Regener8 Resources has picked up two hard rock rare earths projects that are tantalisingly close to an unknown nature reserve east of Kalgoorlie that was drilled years ago, yielding some of the highest grades of rare earths ever drilled in WA. News of an option agreement signed by Regener8 with private firm Beau Resources Pty Ltd saw the market punt Regener8’s stock up 31 per cent in intraday trading to touch 21c.
The two Western Australian prospects, Grasshopper and Seven Sisters —collectively the East Ponton Future Metals Project, are 220 kilometres east of Kalgoorlie and are also prospective for lithium and gold according to the company.
Significantly, the prospects lie just 40 kilometres from known rare earth element bearing carbonatites, within the protected Queen Victoria Spring Nature Reserve. The three key geological features in that nature reserve are the Cundeelee Intrusion the Ponton intrusion and the Ponton Dyke Carbonatite, the latter of which threw up some crazy high grade rare earths intersections when drilled decades ago by Herald Resources.
Historical drilling and assays from Ponton Dyke — most recently held by Galaxy Resources, which has since merged with Orocobre — delivered some of Australia’s best ever rare earth elements intersections. They include 16 metres grading 14.48 per cent total rare earth oxides (TREO), and 28m at 10.5 per cent TREO, including 6 metres at 20.57 per cent TREO.
Further, the Cundeelee Intrusion was described by BHP in 1998 as the “largest, effectively untested carbonatite in the world”. It is a stark, standalone geophysical anomaly that was never followed up – presumably because it is in a nature reserve, albeit it abuts the area outside of the reserve.
Even though the Cundeelee Intrusion and Ponton Dyke both represent extraordinary geological targets, there location within the nature reserve has meant that no significant follow up has taken place and Regener8 is now seeking to get a piece of the action with its new projects that sit just south and to the south-east of the reserve where it buts up to it.
Meanwhile, the East Ponton Future Metals project’s Grasshopper and Seven Sisters prospects sit just outside of the bounds of the nature reserve, yet they are within the same geological domain as Cundeelee and the Ponton Dyke. This means that Regenerat8 can conduct on-ground exploration activities without the restrictions of the neighbouring carbonatite discoveries.
We’re excited to secure the opportunity to investigate these tenement packages which could be transformational for the Company. The prospects are complementary to our existing gold asset, and provide substantial scale, diversity and allows Regener8 to lean into commodities required for a low carbon future. This dovetails with the Company’s intrinsic approach of placing climate and country front of mind. Being in the neighbourhood of some of the highest grade rare earth intersections ever found in Australia presents fantastic blue-sky potential, coupled with prospectivity for lithium and gold provides excellent diversity. Regener8 Resources managing director, Stephen Foley
The two prospects were identified by experienced prospectors, Beau Resources‘ Drew Money and Ross Chandler, with Beau Resources and Mr Chandler the project vendors.
Over his career, Mr Money has been instrumental in multiple discoveries, including Dreadnought Resources’ Orion discovery at the Tarraji-Yampi project and the Money Intrusion at its Mangaroon project.
Mr Chandler, who has substantial expertise in rare earth element deposits, was involved in the early discovery stages of Dreadnought’s Yin rare earth elements deposit, which hosts a minerals resource estimate (inferred + indicated) of 20.06 million tonnes grading 1.03 per cent TREO – not bad but not a patch on the 14.5 percent grades drilled in the nature reserve.
In a market that has become feverish about rare earths, grades like that will not go unnoticed and it may well be that Regener8’s project will spawn a whole new rare earths province – but with uber-high grades.
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