SYDNEY, AUSTRALIA: RareX Limited (ASX: REE) announced the acquisition of a large, district-scale, niobium-rare earth project in the East Yilgarn, 290km east-northeast of Kalgoorlie in Western Australia.
The acquisition supports RareX’s goal of becoming a leading critical metals company with the future development of its 100%-owned Cummins Range, carbonatite-hosted, Rare Earths and Phosphate Project and a strong focus on continuing to discover major new carbonatite-hosted mineral deposits utilising internally-fostered expertise.
RareX CEO, James Durrant, said: This acquisition is tremendously exciting for us. The new Khaleesi Project is well endowed with geological data from large-company programmes that were mainly gold-focused and never properly tested or evaluated the extensive niobium anomalies and rare earth potential. Through our due diligence we’ve identified the opportunity for a district-scale niobium project and will immediately commence a highly targeted exploration program.”
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