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Encouraging Initial Mt. Weld Drilling Results
Encouraging Initial Mt. Weld Drilling Results.
About this update from Corcel Plc
[{"type":"text","content":"\n\n\nCorcel PLC\n(\"Corcel\" or the \"Company\")\nEncouraging Initial Mt. Weld Drilling Results\n13 June 2023\nCorcel Plc (London AIM: CRCL), the pan Angolan / Brazilian Oil and Gas company, with interests across battery metals mining and oil and gas is delighted to announce the initial drilling results from the Company's Mt. Weld rare earth elements joint venture with Riversgold Limited (ASX: \"RGL\"), located 1.5km west/north-west of Lynas Rare Earth Element's Mt. Weld rare earth oxide mine, near Laverton, Western Australia. \nHighlights:\no Initial composite RC drill samples assay up to 2,200ppm TREO\n \no 52% of the planned initial ~2,000m RC programme completed to date\n \no Drilling program is on tenement P34/4489 - immediately to the west of Lynas' globally significant Mt Weld rare earth oxide mine\n \nCorcel Chief Executive Officer, Scott Kaintz commented: \"Elevated initial results out of Mt. Weld reinforce our fundamental view of the exciting mineral and commercial prospectivity of the project, located, as it is, adjacent to one of the world's largest REE operations, outside of China. We look forward to additional results firming up the potential for a mineral resource estimate in due course.\"\nDrill Results: \nThe Company's JV partner, Riversgold, has drilled 5 holes to date totalling 1,036m of an initial seven-hole (~2,000m) reverse circulation (\"RC\") drilling program on the joint venture tenement P34/4489. The program was designed to test several magnetic features confirmed through both airborne and ground magnetic surveying[1].\nThe interesting elevated rare earth element (\"REE)\" results from four composite samples are shown in Tables 1 and 3, with locations in Table 2. The results from all 1m samples from the drill holes will be submitted for assaying shortly.\nTable 1: Mt Weld - Material Intersection Elevated TREO Assay Results\n\n\n\nComposite Sample Number\n\n\nDrill Hole\n\n\nFrom m\n\n\nTo m\n\n\nTREO1 ppm\n\n\nTREO1 %\n\n\n\n\nMTW001\n\n\nMWRC002\n\n\n196\n\n\n200\n\n\n1,600\n\n\n0.160%\n\n\n\n\nMTW002\n\n\nMWRC002\n\n\n162\n\n\n166\n\n\n1,900\n\n\n0.190%\n\n\n\n\nMTW003\n\n\nMWRC003\n\n\n...