A new discovery of rare earths and mineral sands has been announced by ACDC Metals, a junior explorer based in Australia. The company has reported a maiden resource for its Goschen Central project, located in the Murray Basin in Victoria.
The Murray Basin is a large sedimentary basin that covers parts of Victoria, New South Wales, and South Australia. It is known for its deposits of mineral sands, which contain valuable minerals such as zircon, rutile, ilmenite, and monazite. These minerals are used in various industries, such as ceramics, paints, electronics, and renewable energy.
The Goschen Central project is one of several projects that ACDC Metals has in the Murray Basin. The company has been exploring the area since 2019, and has identified several targets for rare earths and mineral sands. Rare earths are a group of 17 elements that have unique properties and are essential for many high-tech applications, such as magnets, batteries, lasers, and catalysts.
The maiden resource for Goschen Central is estimated at 122 million tonnes grading 3.7% total heavy minerals (THM), 0.1% rare earth oxides (REO), and 0.02% niobium oxide (Nb2O5). The resource is based on 28 drill holes and covers an area of 8.6 square kilometers. The company says the resource is open in all directions and at depth, and plans to conduct further drilling to increase the resource size and confidence.
ACDC Metals is not the only company that is exploring for rare earths and mineral sands in the Murray Basin. Other companies, such as Iluka Resources, Astron Corporation, and Broken Hill Prospecting, have also been active in the region, and have reported significant resources and reserves. The Murray Basin is considered to be one of the world’s largest and most prospective regions for mineral sands and rare earths.
The company’s CEO, John Smith, said he was delighted with the maiden resource for Goschen Central, and said it was a testament to the company’s exploration strategy and team. He said the company was aiming to become a major player in the critical metals sector, and to supply the growing demand for rare earths and mineral sands from domestic and international markets. He said the company was confident that it could unlock the full potential of the Murray Basin and create value for its shareholders and stakeholders.
Source: MiningNews.net
