Garies REE Project

Garies REE Project

More information coming soon.

Description

The Company’s Garies REE project, which is 70% owned and situated in the Northern Cape Province of South Africa, 235 kilometres south of Namibia, has the potential to be an oustanding rare earth deposit, with initial sample grades in excess of 5% Total Rare Earth Oxide (TREO) which, if confirmed as a JORC resource of this grade, would place it amongst the highest grade REE deposits in the world.

The distribution of the various Rare Earth Elements within the Garies TREO concentrate compares very favourably with most competitors.

Initial drill sample analysis indicates that the high value rare earth elements Neodymium (Nd) and Praseodymium (Pr) constitute more than 20% and 5% respectively and another higher value element Dysprosium (Dy) over 1% as a percentage of TREO content across two of Garies’ target areas.

Gariees REE Project

Garies REE distribution as
a percentage of TREO content

Location

Project Highlights

The Garies project has the potential to be a world class Rare Earths deposit and differentiates itself from most competitors for the following reasons:

Gariees REE Project
  • Outstanding TREO grades with initial drill hole samples in excess of 5% TREO
  • Favourable distribution - Nd and Pr around 20% and 5% respectively and Dy over 1% as a percentage of TREO
  • The main rare earth mineral is monazite and occurs in two distinct mineralisation types with some of the outcrops traced for over 800m
  • 8,500 hectares/85 Km2 Prospecting Right with over 30 Km2 of extension applications pending
  • Located in the strong mining jurisdiction of South Africa and close to one of the world’s highest-grade REE operations, Steenkampskraal (14%+ TREO) as well as being near the Zandkopdrift REE project and other mining operations including Okiep copper, Prieska copper-zink and Gamsberg zink mine
  • Close to logistical infrastructure including paved road (N7), power, water, rail line to ports and 2km from the town of Garies
  • Substantial geological work undertaken to establish prospectivity with 20 JORC Exploration Targets identified
  • Amenable to lower cost pyrometallurgical extraction (smelting with a high-quality pig iron co-product)
  • Assuming a conservative TREO grade of 4% = +16.8g/t gold equivalent*

Note * Assuming a TREO of 4%, Basket value 1 Aug 2023 USD 1,054.15, Au Price of USD 1949.06

Analysis

20 JORC Exploration Targets identified – four are possible plug-like bodies and the rest are linear features

Drill Hole TREO % (above 1% cut-off)

8 of 14 initial drill holes intersected monazite-apatite-magnetite type mineralization close to surface