SRK Consulting (Australasia) assisted with site supervision for the second phase exploration drilling within western Victoria.
This work was conducted on behalf of Savic Mineral's joint venture partner Pan Andean Capital, an Australian subsidiary of Lion’s Bay Capital, which is a Toronto Stock Exchange listed company.
It was conducted as part of an ongoing clay-hosted rare earth element (REE) exploration hosted within the Bookpurnong Formation within the southern Murray Basin.
Savic’s exploration drilling has been targeting the eastern extension of the Koppamurra Project mineralisation with two phases of wide spaced (1 km) drilling now completed. Savic completed an initial (Phase 1) aircore program that successfully identified clay hosted REE mineralisation across the western edge . Savic then completed a second phase (Phase 2) of aircore drilling, that aimed to extend the already defined extents of REE mineralisation.
In August 2022 assay results were released by ALS with results successfully confirming continuity of shallow REE mineralisation within the west.
Savic’s assay results highlight that mineralised intervals contain a high proportion (~22%) of REEs critical for the manufacture of high-powered permanent magnets used in electric vehicles, wind turbines and other green technologies.
