Emerging critical minerals producer Cadoux Ltd has entered into farm-in and joint venture agreement to acquire up to an 80 per cent interest in the Wimmera Mineral Sands (WMS) project in western Victoria.
The acquisition covers five exploration licences spanning 1,380 square kilometres in the southern Wimmera region, an area globally recognised as a premier rare earth and zircon province.
To fund the farm-in and immediate exploration costs, Cadoux has secured a AU$2.6 million placement led by Evolution Capital.
The acquisition of the WMS project represents a compelling opportunity to secure a long-term, scalable source of rare earth and mineral sands feedstock for Minhub Operations Pty Ltd (MOPL), a downstream processing platform in which Cadoux holds a 50 per cent stake, with an option to achieve full ownership. MOPL is developing the proposed Minhub Mineral Separation Plant in Darwin.
As Minhub advances its vertically integrated mineral sands and rare earth strategy, WMS has the potential to become a cornerstone feedstock asset supporting long-term operational growth and supply security.
Recent assay results from the project’s Danube prospect have validated its immense potential, revealing continuous, shallow, high-grade mineralisation over widths of five to eight metres.
Notable drill intercepts include seven metres at 2.02 per cent in-situ zircon and 1,884 parts per million (ppm) total rare earth oxides (TREO) from a depth of 10 metres.
The region is highly enriched with xenotime, a key mineral containing the heavy rare earth metals dysprosium and terbium, which are vital for high-performance permanent magnets, clean-energy technologies, and defence applications.
Cadoux Managing Director Roland Hill described the WMS project as a potential company maker that directly underpins the economics and scalability of the company’s broader operations.
“The WMS is potentially a company maker. A high-quality, high-grade deposit is a fundamental driver of overall project quality because it directly underpins the economics, scalability, and long-term competitiveness of an operation,” he said.
“Ultimately, the WMS high-grade resource should provide us with the foundation and end-to-end link with Minhub for a robust, globally competitive project capable of delivering consistent value across the entire production chain.”
A targeted 6,000-metre aircore drilling program is currently underway across the broader project area to evaluate the extension of these high-grade trends.
