✦ Richard Brescianini, Executive Director of Heavy Rare Earths Limited (ASX: HRE) updates us on the Cowalinya project in Western Australia
HRE's Cowalinya project in Western Australia is located 100km north east of Esperance and only 40km east of a sealed highway and rail line that links Kalgoorlie with the port at Esperance.
This Cowalinya strategic location was meticulously selected based on promising historical drilling results, showcasing the presence of rare earths anomalies in pristine bedrock. Even more enticingly, higher grade supergene concentrations of rare earths have been discovered in the overlying in-situ weathered saprolite profile.
HRE resource appears to be headed for a substantial upgrade, boasting a higher grade than initially projected. Remember, the REE business is a long-term endeavor, and wise investors should conduct thorough research and adopt a strategic approach for sustained success.
Looking ahead, a potential partnership in non-China-based downstream operations could propel HRE to new heights. Collaborations in the Esperance region present an ideal location, especially for non-China economies seeking to bolster their REE supply and manufacturing capabilities. The Australian government's support for value-adding industries in this area would undoubtedly make perfect sense.
What drives REE Economics
Go to the video 45:45 and listen to Richard as he explains about the Economics in the REE market.
Richard, a seasoned expert in the field, underscores a crucial approach to skillfully leaching the REEs out using advanced acid-based methods. Richard's strategic insight highlights the importance of striking the perfect balance between cost efficiency and profitability.
Richard's exceptional industry experience and in-depth understanding of China's complexities provide a unique advantage that sets him apart from his peers.
Chapters
00:43 Who is Richard Brescianini?
01:36 All about HRE
02:50 The HRE advantage in terms of metallurgy
10:01 Is there a geological control on the grade?
14:07 Is it all about labs now?
18:30 Ionic or non-ionic are not deal-breakers
22:34 Game changer in the clay sector
25:31 Importance of geological advantage
29:13 Future demand of the REE market
32:47 What needs to go right for HRE and what could go wrong for the likes of HRE?
39:20 The positives and negatives of the market
45:45 Economics in the REE market
52:27 Why HRE?
Conclusion
One key takeaway from our discussions: a pathway to developing the Cowalinya project is beginning to emerge. Now, the focus shifts to accelerating the metallurgical program to produce product samples for customer assessment and qualification, and demonstrating that HRE’s land position can host sufficient resources to support a long-term, sustainable rare earths operation.
About Richard Brescianini
Executive Director
Richard, a veteran in mineral exploration, began his career with BHP Minerals in 1987. He discovered base and precious metal deposits across Australia and North America from offices in Brisbane, Perth, Toronto, and Denver. Richard's experience also includes directing the Northern Territory Government's Geological Survey in Darwin and contributing to Arafura Resources' executive management team as a rare earths developer. With decades of expertise, he's a true industry leader, guiding ventures to success in mineral exploration and rare earth development.
About Heavy Rare Earths Limited (ASX: HRE)
Heavy Rare Earths Limited (ASX:HRE) is an Australian rare earth exploration and development company, driving innovation in technologies like smartphones, wind energy, and electric vehicles. Their key project, Cowalinya, near Norseman in Western Australia, holds a JORC Inferred Resource of 28Mt @ 625ppm TREO, including valuable magnet rare earths (25%) and strategic heavy rare earths (23%). Expect a Q3 2023 update on their Mineral Resource and Exploration Target. A leader in rare earth advancements, HRE is shaping the future of critical materials.
About Cowalinya Project - Western Australia
Cowalinya, a rare earth project in Western Australia, features a 230 km2 exploration license. Targeting supergene concentrations of rare earths over granitic basement, it shows similarity to Chinese ionic clay deposits, a key source of heavy rare earths. Initial drilling has already revealed significant rare earth concentrations in Cowalinya South and North areas. The project's maiden Inferred Mineral Resource estimates 28 Mt @ 625 ppm TREO, with 25% valuable magnet rare earths and 23% strategic heavy rare earths. Metallurgical tests exhibit >90% recoveries for some rare earths using a weak hydrochloric acid leach. Exciting potential lies ahead as the resource remains open in all lateral directions.
Contact HRE Corporation | Heavy Rare Earths
Level 21, 459 Collins Street, Melbourne, VIC 3000
Phone: +61 3 8630 3321
Website: https://hreltd.com.au
Twitter: https://twitter.com/hreltd
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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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