Highlights

• Ark Mines (ASX:AHK) has secured extensive historical data and reports for its recently acquired Sandy Mitchell Rare Earths Project.
• As per the metallurgical reports, there exists significant levels of neodymium-praseodymium (NdPr) at the project location.
• NdPr ratios are recorded of up to 25% as a percentage of Total Rare Earth Oxides.
• The dominant minerals in the panned concentrate samples are zircon, ilmenite, monazite and Fe-rich chlorite.
• According to the reports, the rare earths at the site are amenable to panning a concentrate; low-cost and fast start up, straightforward on-site beneficiation by gravity processing.

ASX-listed Australian mineral exploration company, Ark Mines Ltd (ASX:AHK) today shared an update on its 100%-owned ‘Sandy Mitchell’ Rare Earths Project.

Based in North Queensland, the project has been a priority for AHK since its acquisition in early March this year. The company intends to secure and review the historical data of the project.

The company has secured access to extensive historical data and reports generated by Japan Organization for Metals and Energy Security (JOGMEC), which had conducted a huge sampling and mineralogical investigation at the Sandy Mitchell Rare Earths Project in 2010. This data confirms that Sandy Mitchell’s Rare Earths host significant levels of neodymium-praseodymium (NdPr).

Also, there is evidence for the presence of heavy minerals such as ilmenite, rutile, titanium and zircon. This strengthens the commercial positioning of the project, says the company.

Stock price jumps 16%
AHK shares were spotted trading 16.6% higher at AU$0.245 on 28 March 2023. The stock has registered a surge of about 4.2% on the Australian Securities Exchange (ASX) on a year-to-date (YTD) basis.

What is NdPr?
Neodymium-Praseodymium (NdPr) refers to two critical REE (rare earth elements), which are important for producing rare earth permanent magnets. These magnets have application in wind turbines, electric vehicles, and advanced weapon systems.

JOGMEC’s study report for Sandy Mitchell Project 

The metallurgical reports confirm significant levels of neodymium-praseodymium (NdPr) with NdPr ratios recorded of up to 25% as a percentage of Total Rare Earth Oxides.

The table below indicates very high historical TREO grades including high-grade pan concentrates of magnet metals and NdPr ratios of:

Historical data, Not to JORC 2012 code standards (image source: AHK update)

The sampling and mineralogical investigation by JOGMEC at the project location was done by use of QEMSCAN particle mineral analysis methods. According to the report, the project will be simply beneficiated by gravity processes.

Ark Mines to fast-track project developments

Data source: Company update

Ark is now seeking to fast-track planned infill drilling at the project location. Moreover, the ASX-listed company is looking forward to conduct its own metallurgical test work and gravity separation testing to confirm that the material at the site is amenable to panning a concentrate and a commercial low-cost, fast start up gravity separation processing operation can be built.