The updated resource will support a scoping study that the company expects to complete within the coming weeks.
Neodymium and praseodymium power the strongest types of rare earth magnets used in electric vehicles and other decarbonization technologies.
Nechalacho’s Tardiff Upper Zone deposit now hosts 48.6 million measured and indicated tonnes, according to Australia’s Joint Ore Reserves Committee mining code. The zone grades 0.26% neodymium oxide (Nd2O3), 0.07% praseodymium (III/IV) oxide (Pr6O11) and 0.25% niobium pentoxide (Nb2O5), or 1.32% total rare earth oxide (TREO), for 640,000 tonnes of contained TREO.
Inferred resources stand at 144.1 million tonnes grading 0.26% (Nd2O3), 0.07% (Pr6O11) and 0.32% (Nb205), or 1.31% TREO, for 1.88 million tonnes of TREO.
74 new holes
The pit-constrained resource estimate used a 0.7% TREO cut-off grade instead of a metal equivalent value used in an earlier resource…
