Heavy Rare Earths Limited has secured all-minerals rights at its Prospect Hill project, paving the way for a maiden tin resource estimate, while new data from Radium Hill reveals an 8km corridor rich in uranium and rare earth elements.
- All-minerals rights agreement completed at Prospect Hill enabling tin resource development
- Historic and new data reveal significant base metals and silver alongside tin at Prospect Hill
- Radium Hill assays identify an 8km Critical Minerals Corridor with high-grade uranium, scandium, yttrium, and vanadium
- Board refreshed with experienced directors to accelerate exploration efforts
- Exploration expenditure of $171,000 focused on advancing key projects
Prospect Hill, A New Chapter for Tin Exploration
Heavy Rare Earths Limited (ASX, HRE) has taken a significant step forward by securing an all-minerals rights agreement at its Prospect Hill project in South Australia. Previously limited to uranium rights, this expanded agreement now allows the company to explore and develop tin resources, a critical mineral highly valued by governments worldwide.
The Prospect Hill project is the largest and most advanced tin prospect in South Australia, with a rich historical dataset spanning over four decades. The company is poised to declare a maiden Mineral Resource Estimate (MRE) at the South Ridge prospect, supported by assays from 56 drill holes showing promising tin grades, including intercepts such as 3 meters at 4.85% tin and 5 meters at 3.32% tin.
Uncovering Additional Base Metals and Silver
Beyond tin, a systematic review of historic data has revealed significant intervals of copper, lead, zinc, and silver mineralisation associated with the tin deposits at South Ridge. Notably, some samples returned up to 80 grams per tonne of silver alongside base metals, suggesting a more complex and potentially valuable mineral system than previously understood.
Heavy Rare Earths plans to fast-track drilling to better define these relationships and generate material for metallurgical testing, aiming to unlock the full value of the Prospect Hill project.
Radium Hill, Expanding the Critical Minerals Footprint
At Radium Hill, new assays combined with historic data have identified an 8-kilometre-long Critical Minerals Corridor rich in high-grade uranium, rare earth elements (REEs), scandium, yttrium, and vanadium. This corridor aligns with a regional geological fold and hosts multiple mineralised prospects, including Bristowe’s and Bonython Hill.
Rock chip samples from these areas have returned impressive grades, such as up to 969 parts per million scandium oxide and 2,236 parts per million yttrium oxide, alongside uranium concentrations. These findings are particularly timely given the recent surge in yttrium prices, enhancing the economic potential of the corridor.
Strategic Board Refresh to Accelerate Growth
Complementing its exploration progress, Heavy Rare Earths has refreshed its board with the appointments of Gabriel Chiappini as Non-Executive Chair, Dr Amanda Buckingham, and Graeme Morissey as Non-Executive Directors. These additions bring extensive experience in capital markets, geophysics, and mining finance, aligning with the company’s strategy to accelerate exploration and development across its uranium and critical minerals portfolio.
The company also granted performance rights to key personnel, linking incentives to share price milestones, signalling confidence in its growth trajectory.
Financial and Operational Outlook
During the December quarter, Heavy Rare Earths spent $171,000 on exploration and evaluation, primarily focused on Radium Hill and Lake Namba-Billeroo tenements. The company ended the quarter with $1.326 million in cash, maintaining a solid financial position to support ongoing activities.
With a strengthened board, expanded mineral rights, and promising assay results, Heavy Rare Earths is well-positioned to advance its critical minerals projects, potentially delivering significant value to shareholders and contributing to the supply of strategically important minerals.
Bottom Line?
Heavy Rare Earths is set to transform its South Australian projects into critical mineral hubs, but upcoming drilling and resource estimates will be key to validating this potential.
Questions in the middle?
- When will Heavy Rare Earths release the maiden tin Mineral Resource Estimate for Prospect Hill?
- How will the newly discovered base metals and silver at Prospect Hill impact the project's economics?
- What are the next steps for advancing the Radium Hill Critical Minerals Corridor towards development?