Pinnacle Minerals Ltd (ASX: PIM) ("Pinnacle", the "Company") is thrilled to announce the discovery of high-grade Total Rare Earth Oxide (TREO) assay results from historical holes within its 100% owned White Knight Project. This pivotal discovery further underscores the region's potential for significant rare earth mineralisation.
Key Highlights:
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Review of White Knight Project's Historical Data: Revealed several promising historical drill holes requiring further TREO analysis.
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Promising Assay Results: Assays of the historical core showed high-grade TREO, with more than 20% magnet rare earth oxides (MREO) present in all intervals exceeding 500ppm in basement rocks. Nine holes returned assays greater than 500ppm TREO, with three holes showing intervals over 1,000 ppm TREO. Most notably, the highest recorded interval hit 2m at 2,099 ppm TREO containing 22% MREO, surpassing industry benchmarks.
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Geographical Proximity: The assessed historical holes are a mere 10km away from Power Minerals Limited's (ASX:PNN) recently announced high-grade drilling at Yeelanna, further emphasizing the potential of the region.
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REE-Enriched Clays: 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.
Highlights include:
- 1,583 ppm TREO (22% MREO) over 5m (CUM55 34-39m) including:
- 2,099 ppm TREO over 2m
- 1,008 ppm TREO (22% MREO) over 4m (CUM56 24-28m) including:
- 1,618 ppm TREO over 2m
- 624 ppm TREO (22% 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.
Pinnacle Minerals Managing Director, Nic Matich, commented:
“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.”
About us:
Pinnacle Minerals Ltd (ASX: PIM) is an ASX listed technology minerals company focused on delivering shareholder value via the systematic exploration and development of its portfolio of kaolin, halloysite, battery metals and Heavy Mineral Sands prospective projects in Western Australia and South Australia. The Company is focused on delineating resources at its Bobalong and Holly Kaolin Projects in the Great Southern region of Western Australia whilst simultaneously expanding its’ project portfolio through targeted acquisition of prospective ground. Drilling and a scoping study have been completed at Bobalong, with results indicating the potential for a high value direct shipping ore (DSO) product. The White Knight and Camel Lake Projects are strategically located adjacent to Andromeda Metals’ (ASX: ADN) high-grade kaolin-halloysite discoveries in South Australia. The Latham and Tammin projects are adjacent to Chalice Mining Ltd (ASX: CHN) Mid-West Project and Anglo Americans’ (LON: AAL) Southwest Yilgarn Exploration Project respectively, which have multielement exploration potential.
Contact details:
Jane Morgan