Pinnacle Minerals Ltd has discovered high-grade Total Rare Earth Oxide (TREO) assay results from historical holes within its 100 per cent owned White Knight Project in South Australia.
This important discover further highlights the region’s potential for significant rare earth mineralisation.
The historical data revealed several promising historical drill holes requiring further TREO analysis.
Assays of the historical core showed high-grade TREO, with more than 20 per cent magnet rare earth oxides (MREO) present in all intervals exceeding 500 parts per million (ppm) in basement rocks.
Nine holes returned assays greater than 500 ppm TREO, with three holes showing intervals over 1,000 ppm TREO.
Most notably, the highest recorded interval hit two metres at 2,099 ppm TREO containing 22 per cent MREO, surpassing industry benchmarks.
The assessed historical holes are a mere 10 kilometres away from Power Minerals Limited’s recently announced high-grade drilling at Yeelanna, further emphasising the potential of the region.
The assays, sourced from strongly weathered basements, identified coloured clays known for their capacity to host REE’s.
The company anticipates even higher grade TREO mineralisation in these clays (saprolite), where REE concentration is typically found.
Pinnacle Minerals Managing Director Nic Matich said these assay results are a substantial step forward in vectoring in on potential high-grade clay hosted rare earth mineralisation.
“TREO grades of this magnitude within weathered bedrock are a very positive sign that there may exist clay horizons where REE mineralisation concentration exceeds those currently assayed,” said Matich.
Other highlights include the results of:
- 1,583 ppm TREO (22 per cent MREO) over 5m (CUM55 34-39m) including 2,099 ppm TREO over 2m
- 1,008 ppm TREO (22 per cent MREO) over 4m (CUM56 24-28m) including 1,618 ppm TREO over 2m
- 624 ppm TREO (22 per cent MREO) over 30m (L8 30-60m)
The correlation between the results from Pinnacle’s White Knight Project and Power Minerals Limited’s findings at Yeelanna underscores the Eyre Peninsula’s potential for clay-hosted rare earth mineralisation.
Both sites are adjacent to outcrops of the REE-rich Peter Pan Supersuite and Moody Suite Granites, suggesting these may be the source rocks for the enriched clays.
Following this promising discovery, Pinnacle is planning an expansive soil sampling program to identify other enriched zones.