Koppamurra Rare Earth Project Shows Strong Progress

Australian Rare Earths Limited (ASX: AR3) has reported significant progress in its Koppamurra rare earth project during the quarter ending on June 30, 2023. The Dovetail Mineral Resource has increased by 25% to 101 million tonnes at 818 ppm TREO (total rare earth oxide), and the Exploration Target range has expanded to 330 million to 1.4 billion tonnes. Drilling results, with 5,000 assays received, will inform an upgrade of the Mineral Resource and Exploration Target in the second half of 2023.

Metallurgical testwork at the Australian Nuclear Science and Technology Organisation (ANSTO) showed that over 90% of rare earth elements are contained in a fraction below 75 microns, which can lead to a significant reduction in reagent consumption and operating costs. The company has a strong financial position, with a cash balance of AU$15.1 million at the end of June 2023 and successful capital raising completed during the quarter.

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