Coracato Resources (Krakatoa Resources) has announced that it has confirmed the discovery of a "large" ionic clay (adsorbed) type rare earth deposit in Mt Clere, Gascoigne, Western Australia.
The analysis results of the first drilling sample in Tower prospect area show that the mineralization is widely distributed, and the main ore conditions are as follows:
The ore is seen at a depth of 16 meters and 15 meters, with a total rare earth oxide content (TREO) of 0.1395%; 12 meters from the surface, with a TREO content of 0.113%; and 14 meters from a depth of 28 meters, with a TREO content of 0.0979%, including mineralization with a thickness of 10 meters and a grade of 0.1251%.
In December, the company completed 39 survey boreholes with a total footage of 1047 meters in an area of 6 square kilometers where it is considered to have good rare earth metallogenic rights. Of the 21 samples, only one sample contained less than 0.05% TREO.
According to the company, geochemical analysis shows that magnetic elements are significantly enriched in soluble rare earths.
Taoer scenic spot is a lateritic deposit with a maximum thickness of 30 meters.
The Clay Mountain project covers an area of 2300 square kilometers and has many target areas.
In order to achieve the goal of obtaining resources for the first time by the end of the year, the company plans to carry out encryption and edge expansion drilling in the Tavo scenic spot.