Askari Metals’ latest auger drilling campaign at its Red Peak project in Western Australia has yielded exciting results, with total rare earth oxides (TREO) hits reaching as high as 4505 parts per million. This discovery comes hot on the heels of Krakatoa Resources’ recent success at its Mt Clere project, which saw a significant jump in share price after uncovering a new niobium-rare earths target.
During the drilling campaign, Askari identified valuable light rare earth oxides (LREO) with cerium levels peaking at 2990 parts per million – a staggering 45 times higher than the background levels. Other high-value elements such as lanthanum and praseodymium were also present, indicating potential applications in critical energy transition technologies.
The company reported that heavy rare earth oxides (HREO) reached levels of 884 parts per million, with elements like samarium, europium, gadolinium, and dysprosium dominating the results. In total, 15 out of 801 auger samples surpassed 766ppm TREO, three times the background concentration.
The proximity of Red Peak to Krakatoa’s Mt Clere project, one of the largest rare earth resources in Australia, is promising for Askari. The geological similarities between the two sites suggest a high potential for further valuable mineral deposits.
As Askari gears up for another round of drilling at Red Peak, investors are eagerly anticipating more positive news. With 635 samples planned for the upcoming program, the company aims to further capitalize on the rich rare earth potential of the region.
Rare earth metals play a crucial role in modern technologies, from electronic devices to renewable energy sources. Australia’s growing interest in rare earth exploration positions companies like Askari at the forefront of this industry, opening up exciting opportunities for both investors and the broader market.
