Perth, Western Australia – April 22, 2024 – Northern Minerals Limited (ASX: NTU), a leader in heavy rare earth (HRE) exploration and development, is thrilled to announce the receipt of high-grade assay results from its ongoing mineral resource definition drilling program at the Wolverine deposit, part of the Browns Range Project in Western Australia.
The latest assays confirm the presence of wide and high-grade mineralized intervals across the Wolverine deposit, which remains open at depth. Significant new intercept results include 15.6m at 9.99% Total Rare Earth Oxides (TREO) from a depth of 428.20m and other substantial intercepts demonstrating consistent mineralization across the targeted areas.
The drilling program at Wolverine aims to increase the geological confidence and is anticipated to enhance the classification of the Inferred Mineral Resource in future estimates. A key component of this program has been the development of a new deformation intensity spatial model, which for the first time provides a structured framework to improve the understanding of the deposit’s geology.
Executive Chairman Mr. Nicholas Curtis commented:
“The new assay results are very encouraging and emphasise the unique nature of the Browns Range system. These results materially increase confidence in the development of the Wolverine deposit as the first mine within the larger Browns Range system. The exceptional results of the newest Wolverine resource definition drilling program and the increased geological understanding from the drill results and the structural association model supports our regional geological understanding and suggests high-grade opportunities beyond the Wolverine deposit out across the broader Browns Range system. This is encouraging for future exploration success. We are grateful that the Company was able to progress this Program as a result of the grant monies received from the Federal Government. We also are very appreciative of the support we have received from our Native Title Partners - The Jaru People who assisted in ensuring required heritage surveys were completed prior to the campaign commencing. The completion of this drilling program is anticipated in mid-May, and the consequential re-evaluation of our mine plan is due in the fourth quarter of this calendar year, the timing of which aligns well with the Company’s planned FID timing.”
About us:
Northern Minerals Limited (ASX: NTU) (Northern Minerals, or the Company) owns 100% of the Browns Range Project (Project) in northern Western Australia, tenements uniquely rich in the heavy rare earth elements dysprosium (Dy) and terbium (Tb).
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
