RareX acquires project near Mt Weld mine

Lynas' Mt Weld rare earth mine. Image: Lynas Corporation.

Australian rare earths developer RareX has acquired the Weld North project, which is 84 kilometres north of Lynas Corporation’s Mt Weld rare earths mine in Western Australia.

RareX has submitted an application with the Western Australian Department of Mines Industry Regulation and Safety (DMIRS) for an exploration license for the tenement.

The Weld North project features a circular magnetic anomaly target located entirely within RareX’s license application with a five-kilometre diameter and a similar anomaly pattern to the Mt Weld carbonatite complex near Kalgoorlie.

Earlier this week, Lynas Corporation chose Kalgoorlie as the location for its cracking and leaching plant for rare earths mineral processing, in the first step to making Kalgoorlie a major critical minerals hub.

“RareX plans to undertake reconnaissance geochemical sampling and drill testing to assess if the source of the magnetic anomaly target is caused by a carbonatite intrusion, similar to Mt Weld, or a granitic intrusion,” RareX managing director Jeremy Robinson said.

“The circular shape and size comparison to Mt Weld indicates that the Weld North magnetic anomaly is highly prospective for a significant rare earths discovery.

“RareX is committed to exciting green fields exploration targets like Weld North.”

The company’s other exploration projects include the Cummins Range carbonatite rare earth deposit in Western Australia’s Kimberley region, which is prospective for neodymium and praseodymium.

The rare earth exploration and production is a growing field in Western Australia, particularly in the Goldfields region.

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