RareX Secures Key Access and Licenses, Sets Stage for High-Impact Drilling at Khaleesi

Strategic Access Agreement Unlocks Tenure

RareX Limited (ASX: REE) has taken a significant step forward in its exploration ambitions at the Khaleesi Rare Earth and Niobium Project by securing a site access agreement with Narnoo Mining Pty Limited, a subsidiary of Deep Yellow Limited. This agreement resolves overlapping tenure issues on licenses E39/2410 and E39/2415, removing the final administrative hurdle to their imminent grant.

The Khaleesi Project, located in the East Yilgarn region, is notable for its large alkaline intrusive complex, which RareX believes holds strong potential for carbonatite-hosted rare earth and niobium mineralisation. The access agreement with Narnoo Mining not only facilitates operational clarity but also aligns with RareX's strategic intent to advance exploration efficiently.

Additional Licenses Granted, Enabling Full Exploration

Complementing the access agreement, RareX has also secured the formal grant of two additional licenses, E39/2495 and E39/2496, as of 30 January 2025. These grants follow a mandatory notification and assessment period by the Department of Mines, Industry Regulation and Safety (DEMIRS), despite prior completion of Native Title agreements and heritage protection arrangements.

With these licenses now in hand, RareX can fully optimise its exploration program across the Khaleesi tenure, including the recently identified alkaline intrusive complex that has emerged as a high-priority target area.

Preparing for a High-Impact Drilling Campaign

RareX is advancing preparations for a reverse circulation (RC) drilling campaign focused on five priority targets that geological modelling suggests are indicative of carbonatite intrusions. These targets are critical because carbonatites are known hosts for rare earth elements and niobium, both of which are strategically important minerals.

Reconnaissance surveys have been completed, and the company is scheduling heritage and flora surveys for late February and March, respectively. These environmental and cultural assessments are essential prerequisites before submitting the final Program of Work (POW) to DEMIRS for approval.

Contextualising Khaleesi within RareX’s Portfolio

The Khaleesi Project is a flagship exploration asset for RareX, complementing its Cummins Range Project, which already boasts a significant net present value and is positioned as Australia’s largest undeveloped rare earths project. The Khaleesi tenure’s proximity to established mineral districts such as Mt Weld and the Tropicana Gold mine further underscores its prospective value.

RareX’s reinterpretation of gravity and magnetic data has refined drill targets that differ from previous shallow gold-focused aircore drilling, which had only partially explored the potential for rare earth and niobium mineralisation.

Looking Ahead

With access agreements and licenses secured, RareX is poised to mobilise its drilling program mid-year, contingent on seasonal weather conditions. The outcomes of this campaign will be pivotal in validating the company’s geological model and could significantly enhance RareX’s standing in the critical minerals sector.