🕐15.10.10 - 03:27 Uhr

Korab Resources Ltd [KOR] - Korab discovers rare earths at Rum Jungle in Northern Territory



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Korab Resources Ltd [KOR] - Korab discovers rare earths at Rum Jungle in Northern Territory

Korab is pleased to advise the market that it has discovered rare earth oxide mineralisation at its wholly owned Geolsec project located at Rum Jungle in the Northern Territory.

Rare earths anomalism has been encountered within the Geolsec formation and within surrounding rocks of Coomalie Dolostone and Whites Formation.

Similarly to Arafura Resources (ASX:ARU) owned and operated Nolan�s Bore rare earths deposit located in the Northern Territory, rare earths mineralisation at Korab�s Geolsec project is associated with phosphatic enrichment.

The rare earths mineralisation at Geolsec is also associated with elevated uranium and thorium oxide levels allowing for relatively precise targeting of the deposition zones using ground radiometry and soil geochemistry.

Korab will shortly undertake additional work program at Rum Jungle projects to assess further the potential of this exciting discovery, including its implications for the development options of Geolsec phosphate deposit. In parallel with the exploration and analytical work planned by Korab to improve its understanding of the nature of the rare earths mineralisation at Rum Jungle, Korab�s subsidiary Geolsec Phosphate Operations P/L will continue its work to secure the permits to commence the development of the Geolsec phosphate deposit.



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