Khaleesi Project Yields 17m at 3,878ppm TREO; Mt Mansbridge Tenements Granted

Exploration Momentum Builds at Khaleesi Niobium Project

RareX Limited (ASX:REE) has made notable strides in de-risking its Khaleesi Niobium Project located in East Yilgarn, Western Australia. The company received assay results from re-assaying 1,470 pulps across 120 drill holes, revealing elevated rare earth elements (REE) concentrations in both regolith clays and fresh intrusive rocks. The standout result came from the Niobe prospect, with a significant 17-meter interval grading 3,878 ppm total rare earth oxides (TREO), underscoring the project's potential.

These findings support RareX's geological models and have sharpened drill targeting for the upcoming 2025 campaign, which will focus on basement intrusives for the first time. However, delays in native title clearances and tenement granting, particularly for tenement E39/2496, have pushed drilling plans into the new year. The company has secured heritage agreements with the Upurli Upurli Nguratja people and access arrangements with AngloGold Ashanti, positioning it well for efficient exploration.

Heavy Rare Earths Potential at Mt Mansbridge Project

In the Kimberley region of WA, RareX's Mt Mansbridge Project has advanced with all three tenements granted following heritage agreements with the Tjurabalan native title holders. The project exhibits promising heavy rare earth (HRE) mineralisation, including hydrothermal xenotime veins analogous to the nearby Browns Range deposits. Historical pit samples and recent drilling have confirmed significant yttrium and TREO anomalies, with some intervals showing up to 1.06% TREO and heavy rare earth oxide content exceeding 60%.

The project benefits from sparse previous drilling, leaving substantial upside for exploration. RareX plans to prioritize drilling in 2025 to test hydrothermal veining and unconformity-related targets, leveraging structural and geochemical data to refine its approach.

Strategic Entry into Northern Territory with Piper Project

RareX has secured an 80% earn-in agreement over the Piper Project in the Aileron Province, Northern Territory, a region known for alkaline magmatism and carbonatite-hosted mineralisation. The project features a 2.5 km wide bull's-eye magnetic anomaly interpreted as a carbonatite pipe beneath sedimentary cover. This target shares geological similarities with the Cummins Range and Mt Weld deposits and is surrounded by tenements held by WA1 Resources, reinforcing its prospectivity.

The earn-in terms require drilling at least three holes totaling 1,000 meters over five years, with RareX aiming to commence drilling in 2025 following land access negotiations. This low-cost, low-risk deal expands RareX's footprint in a highly prospective rare earth and niobium province.

Cummins Range Project Advances with Phosphate Focus

While no new announcements were made this quarter for the Cummins Range Rare Earths-Phosphate Project, RareX continues to progress the project with an emphasis on phosphate extraction as a staged development pathway. The deposit hosts 1.6 million tonnes of rare earths and 24 million tonnes of phosphate, with infrastructure developments including port-side land secured at Wyndham and an infrastructure sharing agreement to facilitate bulk loading.

RareX is exploring innovative, microbe-assisted leaching techniques to reduce capital intensity compared to conventional flotation methods. Early glasshouse trials suggest the phosphate product could effectively substitute synthetic fertilisers, particularly in the Ord River agricultural region. Ongoing environmental baseline monitoring and native title negotiations are advancing despite some delays due to changes in local governance.

Corporate and Sustainability Initiatives

RareX released its 2024 ESG and Sustainability Report, underscoring its commitment to responsible environmental management and community engagement. The company also reported a $827,000 refundable tax offset for research and development activities related to Cummins Range. Additionally, RareX is actively pursuing complementary project acquisitions, including international opportunities, advised by Hunter&Co.

Notably, RareX holds strategic investments in listed companies such as Cosmos Exploration, which is advancing lithium extraction technologies in Bolivia, potentially positioning RareX to benefit from broader critical minerals trends.