Mount Ridley Mines: The biggest player in the hottest new clay-based rare earths jurisdiction
Mount Ridley Mines Director Guy Le Page on 3AW 2GB 4BC 6PR Bulls N' Bears Report
Listen to ASX-listed Mount Ridley Mines Director Guy Le Page talk to Matt Birney on the Bulls N’ Bears Report about Mount Ridley’s best-ever rare earths drill result in the hottest new rare earths region in Australia.
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Mount Ridley is front and center and one of the bigger players in the newly crowned rare earths hot spot of Esperance in WA. It holds 3400km2 worth of tenements to the north east of Esperance at its namesake project where multiple companies have experienced success finding clay based rare earths. Mt Ridley has committed to more than 50,000m of drilling at the project with a view to tabling a maiden rare earths resource this year - and recently got onto some of its best drill results yet at the Mia prospect.
RADIO INTERVIEW_ TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by rare earths explorer, Mount Ridley Mines.
Matt Birney - ASX code: MRD
Matt Birney - I'm Matt Birney and I'm joined now by the Director of Mount Ridley Mines, Guy Le Page.
Matt Birney - Hi Guy.
Guy Le Page - Hi Matt
Matt Birney - Okay so Mount Ridley is front and center and one of, if not, the biggest players in the newly crowned rare earths hot spot of Esperance in WA.
Matt Birney - The company holds 3400km2 worth of tenements to the north east of Esperance at its namesake project where multiple companies have experienced success finding clay-based rare earths.
Matt Birney - Mount Ridley has committed to more than 50,000m of drilling at the project with a view to tabling a maiden rare earths resource this year - and recently got onto some of its best drill results yet at it's Mia prospect.
Matt Birney - Okay Guy hit me with those brand new drill numbers at your Mia prospect, they look pretty good to me.
Guy Le Page - Oh they're excellent. Had a series of very high grade results, better intersections were 36 meters at 4398 parts per million total rare earths and that included six meters at 9523 parts per million total rare earths.
Matt Birney - What are some of the other good drill results to date at your Mount Ridley project?
Guy Le Page - Well we've had multiple good results over the last couple of years. Announced February this year we had some very extensive mineralisation across a whole series of prospects.
Guy Le Page - 21 meters at 1900 PPM total rare earths at Marvin. We had 35 meters at just under 2000 PPM total rare earths at Jody and we had six meters at 3182 PPM at Jody as well so it is a very good result.
Matt Birney - Now I know these clay-based rare earth horizons can go forever, how much of your 3400 square kilometers of tenure near Esperance do you think is mineralised so far?
Guy Le Page - Well it's a good question, we've only explored about 30 per cent of the tenement and already we've got of the 3400 sq kms about 1200 sq kms of mineralised.
Matt Birney - Give me a sense generally of this project. What sort of average grades are you seeing across the project? How deep does the mineralisation start and how thick is it generally? Just give me a sense of it.
Guy Le Page - Well if we look at the two key prospects Mia and Marvin, they're averaging about 1200 PPM total rare earths. Importantly 25 per cent of that are magnet rare earths so about 300 PPM and average thicknesses are just under 13 meters.
Guy Le Page - Mineralisation starting at about between three to five meters and extending down to about 45 to 50 meters down hole.
Matt Birney - Guy Le Page from Mount Ridley Mines.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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