Heavy Rare Earths Limited (ASX – HRE) reports significant uranium, scandium, and rare earth assays from its Radium Hill project, alongside strategic airborne surveys and advancing exploration across Australia.
- High-grade assays up to 9,068 ppm U3O8 and 936 ppm Sc2O3 at Radium Hill
- Completion of detailed airborne magnetic-radiometric survey to refine 3D mineralisation models
- Ongoing exploration across South Australia, Western Australia, and Northern Territory projects
- Strong cash position of $1.935 million with no debt reported
- Metallurgical test work supports potential for efficient rare earth extraction at Cowalinya
Exploration Highlights at Radium Hill
Heavy Rare Earths Limited (ASX, HRE) has delivered a compelling update for the June 2025 quarter, showcasing promising exploration results from its flagship Radium Hill project in South Australia. The company reported rock sampling assays revealing uranium concentrations as high as 9,068 ppm U3O8 (equivalent to 20 lb/t), scandium levels reaching 936 ppm Sc2O3, and total rare earth oxides (TREO) up to 1.89%. These grades position Radium Hill as a noteworthy asset in Australia's critical minerals landscape, especially given the project's historical under-evaluation for scandium and rare earth co-products.
Complementing these assay results, HRE completed a comprehensive low-altitude airborne magnetic-radiometric survey over the Radium Hill area. This survey, flown with tighter line spacing and lower altitude than previous efforts, has significantly enhanced the geological structural understanding. The integration of new and historic data is nearing completion, enabling the creation of detailed 3D structural models to guide targeted drilling planned for the second half of 2025. Early interpretations highlight complex cross-cutting structures that could control uranium, scandium, and rare earth mineralisation.
Broader Australian Exploration Portfolio
Beyond Radium Hill, Heavy Rare Earths is advancing exploration across multiple projects. In Western Australia, the Perenjori project has yielded strong uranium-in-soil anomalies correlating with airborne radiometric features, reminiscent of significant calcrete-hosted uranium deposits nearby. The Cowalinya project continues to demonstrate a sizeable inferred rare earth inventory with encouraging metallurgical test results, including high recovery rates and low acid consumption, supporting the potential for efficient downstream processing.
In the Northern Territory, the Duke project is undergoing initial exploration for rare earth elements within a geological setting previously targeted for copper, gold, and bismuth. Soil sampling has identified a 7 km2 zone enriched in rare earths, with historic drilling intercepts confirming elevated TREO values. This marks a new frontier for HRE as it applies its expertise to diverse mineralisation styles across Australia.
Financial Position and Outlook
Heavy Rare Earths maintains a solid financial footing, reporting $1.935 million in cash at the end of the quarter with no debt. The company’s cash flow statements indicate continued investment in exploration and evaluation activities, with a disciplined approach to expenditure. Payments to related parties were limited to director fees, reflecting prudent governance.
Looking ahead, the company’s near-term focus will be on advancing the Radium Hill drilling program informed by the new 3D models, progressing metallurgical optimization at Cowalinya, and further soil and geophysical surveys at Perenjori and Duke. Given the geopolitical sensitivities around rare earth supply chains, HRE’s portfolio of uranium, scandium, and rare earth assets positions it well to capitalize on growing demand for critical minerals.
Bottom Line?
Heavy Rare Earths is poised to unlock value from its diverse Australian critical minerals portfolio as it moves toward targeted drilling and metallurgical milestones.
Questions in the middle?
- How will upcoming drilling at Radium Hill refine resource estimates and project economics?
- What are the timelines and expected outcomes for metallurgical test work at Cowalinya?
- How might global rare earth market dynamics influence Heavy Rare Earths’ development strategy?