Voltaic says the identification of this large carbonatite intrusive system (CT1) is extremely encouraging as it is along strike of targets recently discovered by neighbour Kingfisher Mining.

Drilling at the Paddys Well REE project began in January after Voltaic (ASX:VSR) undertook a phase III reconnaissance exploration program where additional rock chip samples were taken and a regional mapping program was carried out.

The primary aim of this phase of the drill campaign was to confirm historical holes which had identified anomalous Total Rare Earth Element Oxide (TREO) results and to screen other key priority target areas of interest.

A total of 14 shallow AV holes were completed with various underlying basement lithologies encountered, which are providing valuable insight into both scale and potential source of MREOs (Magnetic Rare Earth Oxides).

VSR says the newly discovered CT1 target is not only extensive but is associated with a ring-like magnetic and radiometric signature with zones of iron carbonates and potassic alteration identified in historical regional drilling.

Something bigger could be lurking under the surface

The presence of lanthanides along with fenite alteration within CT1 hint to the potential occurrence of a significantly large-scale regional carbonatite system.

Given the imminent expected granting of tenements E09/2663 and E09/2669, a program of work will be fast-tracked to undertake systematic exploration to define the presence of REE-enriched carbonatites.

Footprint expands by 450%

Meanwhile, the project area has been expanded by ~450% due to a recognition of its high prospectivity for REEs and other critical minerals.

From the “proof-of-concept” surface sampling and mapping that has been ongoing since October 2022, Voltaic has doubled the previously identified “CSZ1” target corridor to 32km strike length and added the “SZ 2” corridor to the south.

The new tenure has had no prior exploration for REEs giving the company a ‘first mover’ advantage in the already highly active Gascoyne region where competition for ground is intensifying.

Looking ahead

Voltaic will begin metallurgical test work on REE enriched clays from Paddys Well later this month around the same time the phase III surface geochemical sampling results are due.

Drilling results are expected shortly thereafter.

This article was developed in collaboration with Voltaic Strategic Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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