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Listen to a Rare Earth Story from Mount Ridley Mines Limited (ASX:MRD).

Updated: Jul 26, 2022

✦ Always wanted to know more about REE*? Guy Le Page, Non-Executive Director of Mount Ridley Mines Limited (ASX: MRD) brings insights.

The next time you hear an exploration story, ask yourself these two questions: "Does it have substance?" and "Does it have a reasonable potential for it to come true?"

REE trend

You may have noticed there has been an increase in the appearance of REE in Ionic Clays recently. If this is an area you are as yet unfamiliar with, one of the best ways to learn is to speak to someone who is involved in the industry and who understands what it´s all about.

Guy Le Page, Non-Executive Director of Mount Ridley Mines Limited (ASX:MRD) brings a refreshing take on REE.

*REEs are Rare Earth Elements that have become increasingly important as our world becomes more and more technological. These elements are necessary for technological elements such as cell phones, TVs, LED light bulbs and wind turbines.

There are constant REE announcements being released, so keep an eye out, observe and learn.

Mount Ridley REE project

Now this is one project you'd want to keep your eyes and ears on. Mr. Le Page talks about the history and contents of the company's REE story. What is interesting is, the REE deposit is not Ionic Clays, and there is still much to learn about the project. The company is in a learning phase, which means the next twelve months will bring a clearer picture as they continue to drill.

The project has several plus points, including the fact that it is 35km from a port, it has a highway, railway and a gas pipeline adjacent to the project. This is critical for the company as they continue to work on the technical aspects.

So is this an early exploration project, or an early development mineral project? Wait and see, and more will be revealed.

Listen to Mr. Le Page here:


00:00 Start

00:20 Introduction

01:52 Guy Introduction.

02:32 How did MRD come up with the project?

03:40 What elements of the REE does MRD have?

04:42 What does TREO mean?

05:56 What do we read in TREO?

07:11 The large Footprint for MRD.

07:50 Can investors assume the consistency of REE mineralisation?

09:11 Is this an alluvial process?

10:34 Can the project be host to other metals?

11:41 The REE market.

12:47 Could REE have ESG compliant issues which will lead to supply issues?

14:11 The geopolitical changes are driving the REE demand.

14:44 Co-Funding collaborations in Critical Metals.

15:35 News Flow for MRD.

16:41 Does MRD have environmental issues?

17:40 Why look at MRD?

18:49 The upside of MRD.

19:45 Conclusions

About Guy Le Page

Non-Executive Director

B.A., BSc (Hons), MBA, MAusIMM, FFIN

Mr Le Page is currently a Director & Corporate Adviser of RM Corporate Finance specialising in resources. He is actively involved in a range of corporate initiatives from mergers and acquisitions, initial public offerings to valuations, consulting and corporate advisory roles.

Mr Le Page was Head of Research at Morgan Stockbroking Limited (Perth) prior to joining Tolhurst Noall as a Corporate Advisor in July of 1998. As Head of Research, Mr Le Page was responsible for the supervision of all Industrial and Resources Research. As a Resources Analyst, Mr Le Page published detailed research on various mineral exploration and mining companies listed on the Australian Securities Exchange. The majority of this research involved valuations of both exploration and production assets.

Prior to entering the stockbroking industry, he spent 10 years as an exploration and mining geologist in Australia, Canada and the United States. His experience spans gold and base metal exploration and mining geology, and he has acted as a consultant to private and public companies. This professional experience included the production of both technical and valuation reports for resource companies.

Mr Le Page holds a Bachelor of Arts, a Bachelor of Science and a Masters’ Degree in Business Administration from the University of Adelaide, a Bachelor of Applied Science (Hons) from the Curtin University of Technology and a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia.

About Mount Ridley Mines Limited (ASX:MRD)

Mount Ridley Mines Limited is undertaking the exploration of a significant deposit of valuable clay-hosted rare earth elements in Western Australia. The Project was initially acquired for its nickel and copper sulphides potential and is now recognised as being prospective for ionic clay REE deposits.

Currently, this style of deposit is mined and processed only in China and Myanmar.

In November 2020 Mount Ridley Mines Limited (“MRD”) commenced a review of data for its namesake Mount Ridley Project and surrounding area.

The review concluded that areas of the Biranup and Nornalup geological provinces in south-eastern Western Australia have the potential for REE mineralisation, and in particular, the style of mineralisation referred to as Ionic Adsorption Clay (IAC-REE).

Globally, deposits of IAC-REE are most significant in southern China and are the world’s main source of heavy Rare Earth Elements.

The Project

REE mineralisation occurs as large, horizontal, near surface, sheet-like lenses up to a depth of 89 metres. REE mineralisation is interpreted to be present within the in-situ saprolite clay horizon. Patchy lower grade zones occur within transported cover which may vector towards stronger REE mineralisation deeper within the regolith.

Geological Survey of Western Australia (DMIRS) mapping[1] shows that the Mount Ridley Project REE mineralisation occurs within the weathered mantle (regolith) of the Recherche Super-suite, which is described as “granitic and mafic gneiss; may include intrusions of Esperance Super-suite”.

While the source of the REE mineralisation is currently unknown, a detailed sample and litho-geochemistry dataset from bottom of hole aircore samples has been established which includes whole-rock chemical analyses, sample pulps and some end-of-hole air core samples. These samples and data are being studied by the Company’s consultant geochemist to identify the primary rock-type and whether units are REE-enriched.

Re-assay of 950 air core samples (162 pending) returned significant REE values over an apparent strike in excess of 25 km with over 20 samples returning >1,000 ppm Mineralisation remains open in all directions with a peak value so far at the Keith’s Prospect from MRAC0711 with 10,461ppm (1.05%) from 23m downhole.

Significant REE intersections have been identified and grouped into 5 prospects – Winston’s, Keith’s, The Lake, Tyrell’s and Marcellus.

Planning underway for a 25,000m aircore program to test newly acquired tenements in addition to step-out and infill holes.

[1] (DMIRS) Department of Mines, Industry Regulation and Safety 1:100,000 Interpreted Bedrock Geology

Contact Mount Ridley Mines Limited

a/ Ground Floor

168 Stirling Hwy

Nedlands, WA, 6009

t/: +61 8 9389 8033

f/: +61 8 9262 3723



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Noel Ong, CEO of Samso tells compelling stories by engaging business leaders to reveal insights beneficial to the investment community.

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