Core Energy Uncovers Extensive Rare Earth Mineralisation at Cummins with ISR Potential

• Broad, laterally extensive REE mineralisation confirmed at Cummins
• Multiple drill holes report continuous zones with up to 1,388ppm TREO
• Magnet rare earth oxide (MREO) enrichment consistently between 22–35%
• In-situ recovery (ISR) potential assessed for environmental and cost benefits
• REE exploration expanded to Western Eyre Peninsula with historic drill sampling

Significant Rare Earth Zones at Cummins Project

Core Energy Minerals (ASX:CR3) has reported a series of compelling rare earth element (REE) assay results from its Cummins Project in South Australia, confirming a broad and laterally extensive mineralised system. The recent re-assays of 2025 aircore drill pulps, originally tested for uranium, uncovered multiple intersections of total rare earth oxides (TREO) exceeding 500ppm, with internal high-grade intervals surpassing 1,000ppm. Notably, magnet rare earth oxide (MREO) proportions, which include higher-value elements like neodymium and praseodymium, consistently range between 22% and 27%, peaking at 35% in some samples.

These results indicate a mineralisation style hosted both in regolith and weathered basement lithologies, including muscovite-rich clays and altered schist. Drill holes such as CAC026 returned 14m at 659ppm TREO with a peak 1m interval grading 1,388ppm TREO, while CAC019 intersected 27m at 505ppm TREO including 4m at 1,230ppm TREO. The mineralisation remains open laterally and at depth, suggesting further upside potential.

Assessing In-Situ Recovery for Sustainable Extraction

Core Energy is actively evaluating the amenability of the Cummins mineralisation to in-situ recovery (ISR) mining, a method that extracts minerals directly from underground deposits with minimal surface disturbance. ISR offers notable advantages including lower capital expenditure, reduced operational costs, and faster development timelines compared to conventional open-pit mining. Several mineralised intervals are located within permeable lithologies such as lignitic sands and silty-sands, which are favourable for ISR methods.

South Australia boasts a strong ISR technical knowledge base, with existing uranium ISR operations like the Beverley-Four Mile and Honeymoon mines, and emerging projects such as the Boland REE project. Core Energy’s Managing Director Tony Greenaway emphasised the strategic timing of these findings, linking the project’s potential to the growing demand for critical magnet rare earth oxides driven by global energy transition and data centre expansion.

Western Eyre Peninsula Exploration and Historical Data Utilisation

Beyond Cummins, Core Energy has extended its REE exploration northward into the Western Eyre Peninsula Project (WEP). The company is sampling historic drill holes from tenements EL6700, EL6393, and EL6506, aiming to assess palaeochannel-hosted ionic adsorption clay (IAC) REE mineralisation in organic sediments overlying REE-rich weathered basement clays. This approach leverages the South Australian Core Reference Library, enabling access to extensive historical drilling data and facilitating efficient exploration.

The WEP area contains identified alkaline and pegmatitic intrusive basement rocks, which are potential REE sources. The exploration model targets organic-rich sediments as traps for REE leached from basement rocks, a concept supported by previous studies and local geology.

These efforts follow Core Energy’s recent expansion of its REE portfolio, including the acquisition of the Itambe REE Project from Rio Tinto, supported by a $2.75 million capital raise to fund exploration and growth Core Energy Secures Itambe REE Project.

Next Steps and Upcoming Assay Results

Core Energy expects assay results for the remaining Cummins 2025 aircore drill intervals in the June 2026 quarter. These will provide more comprehensive coverage of the mineralised system, aiding geological interpretation and refinement of the exploration model. Concurrently, analysis of historical drill hole sediments across the Western Eyre Project is underway to evaluate ISR amenability and mineralisation continuity.

Planned follow-up work includes leach testing of key mineralised horizons, detailed cross-section analysis, and correlation of lithologies and mineralisation between drill holes. The company’s approach reflects a strategic focus on low-impact, cost-effective extraction methods aligned with environmental stewardship.

Bottom Line?

The Cummins Project’s broad REE mineralisation and ISR potential position Core Energy to tap into critical mineral demand, but pending assays and ISR feasibility will be key to unlocking value.

Questions in the middle?

• Will further assays confirm the lateral and depth extensions of the REE system at Cummins?
• How viable will ISR mining prove across the variable lithologies encountered in the deposit?
• Can historic data integration at Western Eyre Peninsula accelerate discovery of economically viable REE mineralisation?