Piche Resources Unveils High-Grade Rare Earth and Uranium Potential at Ashburton

Ashburton Emerges as Rare Earth Hotspot

Piche Resources (ASX:PR2) has spotlighted its Ashburton Project in Western Australia as a significant rare earth opportunity following a strategic review of historical data. The project, previously explored mainly for uranium, reveals an extensive rare earth system enriched with high-value magnet rare earth elements (REEs) critical for permanent magnets in clean energy technologies.

Surface rock-chip sampling at the Livanto Prospect returned exceptional grades, with Total Rare Earth Oxides (TREO) hitting 11.38%. Notably, the rare earth assemblage is heavily weighted towards middle rare earth elements (59%) such as neodymium and praseodymium, and heavy rare earth elements (7%) like terbium and dysprosium, which typically command higher market prices than lighter counterparts.

Drilling Highlights Extensive, Shallow Mineralisation

Historical reverse circulation drilling confirms that rare earth mineralisation extends beneath the surface over at least 30 kilometres of favourable basement metasandstone. Ten drill holes returned anomalous TREO exceeding 300 ppm, with standout intersections including 4 metres at 1,259 ppm TREO from surface and 34 metres at 560 ppm TREO from 32 metres depth.

The mineralised horizon remains open along strike, extending an additional estimated 30 kilometres within Piche’s tenement package, areas yet to be systematically sampled or drilled. These results suggest a laterally extensive and continuous mineralised system rather than isolated pockets.

Dual Commodity Upside with High-Grade Uranium

Adding to Ashburton’s appeal, the project hosts significant uranium mineralisation, with assays up to 16,050 ppm eU3O8 recorded at the Angelo Prospect. Uranium mineralisation is dominated by uraninite, a uranium oxide commonly associated with rare earth elements, indicating a multi-commodity system with enhanced economic potential.

Previous drilling at Angelo returned high-grade uranium intercepts such as 7 metres at 8,733 ppm U3O8, including 4 metres at nearly 15,000 ppm eU3O8. This dual rare earth and uranium prospectivity positions Ashburton as a compelling critical minerals play in a premier Australian mining jurisdiction.

Next Steps Focus on Systematic Exploration

Piche plans to build on this foundation with a series of targeted work programs. These include compiling and reinterpreting all historical data, conducting geological mapping and surface sampling along untested extensions, verifying historical high-grade results, and generating new targets through integrated datasets. A first-pass drilling program is also being designed to test priority rare earth targets and assess mineralisation continuity.

The company’s acting non-executive chairman, Stephen Mann, emphasised the opportunity: "The mineralised system remains largely untested over substantial strike length, providing the Company with an outstanding exploration opportunity." Ashburton’s combination of high-grade surface mineralisation, favourable rare earth distribution, and shallow drill intercepts sets the stage for defining a significant critical minerals resource.