Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF) has unveiled strong assay results from a roadside drilling program at the Murraydium Rare Earth Elements (REE) Project in southeast South Australia.
Substantial regional prospectivity
The initiative targeted ionic clay-hosted rare earths within the Loxton-Parilla Sands formation and the results point towards substantial regional prospectivity.
The program consisted of 215 aircore drill holes, totalling 3,709 metres, with 40 holes showing concentrations greater than 500 parts per million (ppm) of total rare earth oxide (TREO) and five exceeding 1,000 ppm TREO.
Notably, hole SBT199 indicated 1,560 ppm TREO over a 2-metre length, including a 1-metre segment with an elevated concentration of 2,420 ppm TREO.
Lanthanein technical director Brian Thomas enthused: "These results are the absolute confirmation of the exciting exploration opportunity in a region that is highly prospective for ionic clay-hosted rare earth deposits."
These findings come in a region witnessing continued REE exploration activity, particularly with the success of Australian Rare Earths Ltd's Koppamurra Project, which boasts a resource of 101 million tonnes at 818 ppm TREO.
Rich mineral diversity
Murraydium Project is part of Exploration Licence 6717 and covers an 872-square-kilometre area within the Murray Basin, known for its rich mineral diversity.
The assays also revealed noteworthy concentrations of specific rare earth elements, including neodymium and praseodymium (Nd/Pr), which ranged between 14% and 25% of TREO in selected samples.
These elements are crucial in various technologies, including electric vehicles and renewable energy systems.
The results will likely expedite future drilling endeavours, which the company hopes will be well bolstered by its relationships with supportive landowners and transparent communications with all stakeholders.