MARQUEE RESOURCES LIMITED (MQR)

CLAYTON VALLEY- LITHIUM (100%) USA

REDLINGS REE PROJECT

The Redlings Project (formally called the Jungle Well Project) comprises a single exploration licence (37/1311) which covers an area of 39.06 km2 (13 blocks; Table 1). The Project is located approximately 40Km west of Leonora, and 77Km north of Menzies (Figure 1 and 2). Lynas Corporation’s Mt Weld Project lies approximately 150km east of the project. The Sturt Meadows pastoral lease encompasses the project, which is accessed via the Leonora-Mt Ida road and thence by station tracks.

Project Highlights

  • Trench sampling of dyke system identified multiple samples of anomalous REO mineralisation.
  • REE values up to 12.8% TREO.
  • Detailed magnetic and geochemical surveys have revealed 14 significant REE
  • Targets range up to 700m long and 80m in width.
  • Anomalies lie on or close to major structural feature.
  • Rock chip sampling conducted in 2007 returned the significant results of:

Sample 1:  6.74% TREE comprising of 2.9% Ce, 644 ppm Dy, 337 ppm Er, 195 ppm Eu, 878 ppm Gd, 2.04% La, 1.09% Nd, 0.34% Pr, 0.37% Y and 282 ppm Yb.

Sample 2:  7.8% TREE comprising of 3.6% Ce, 648 ppm Dy, 331 ppm Er, 207 ppm Eu, 863 ppm Gd, 2.28% La, 1.22% Nd, 0.39% Pr, 0.36% Y and 288 ppm Yb.

  • Multiple independent sampling campaigns by several companies confirm the tenor of REO mineralisation at the Project.

Location, Tenure and Access

Table 1: Tenement Summary

Tenement Grant Date Area(BL) Area(Km2)
E37/1311 7/12/2017 13 39.06

Figure 1: Project Locations

Figure 2: Location and Access

Regional and Project Geology

The Redlings Project is confined to undefined Archaean metagranites of the Yilgarn Craton (Figure 3). It is bound by the Mt Ida Greenstone Belt and the Mt Ida Fault to the west and the Leonora Greenstone Belt to the east. Proterozoic-aged dolerite dyke swarms, striking generally east – west, are readily interpreted from aeromagnetic data but are not evident on the ground.

Several kimberlite dykes have been identified with three of these, known as Redlings 1, 2 and 3, located within the project area. The rare earth mineralisation identified to date is interpreted to be associated with a northwest-trending dyke, which may be ultramafic in composition. The juxtaposed northwest-trending dyke and kimberlite occurrences suggest both have exploited the same crustal weakness.

The project area is extensively covered by laterite.

Figure 3: 500K Geology and Mindex

Exploration Completed

Western Diamond Corporation (WDC) prospected, trenched and drilled for diamond-bearing kimberlite bodies during the ’90s. Three potential “kimberlite” dykes, named Redlings 1, Redlings 2 and Redlings 3, were identified by WDC in 1997. The company drilled four diamond holes into the Redlings 3 prospect intersecting 5 metres of basalt or a light grey kimberlite unit from 25 metre in Hole Red 3/4 (the easternmost hole on Figure 4). Trenching exposed the up-dip projection of the target unit, which was sampled for heavy mineral separation work.

Microprobe analysis of the chrome spinels recovered at the surface and within the costean plotted in the diamond inclusion field and displayed typical kimberlitic signatures. The REE concentrations also fall well within the published ranges for kimberlite, supporting the REO host at Redlings 3 as comprising kimberlitic material.

Redlings 1 is confirmed as being kimberlitic, whereas Redlings 2 has not been positively identified but is inferred from the high concentrations of chromite found in the local calcrete rubble (WAMEX A57501).

Vedo Energy re-evaluated and sampled the exposed dyke at Redlings 3 in 2007. Resampling and assaying of this zone returned significant REEs values, including 6.74% and 7.8% total REEs (Table 2).

Table 2: 2007 REE surface sampling results

A further resampling program in 2009, validated the earlier results producing the highly anomalous values of 6.98% to 8.04% total REEs (Figure 5; Table 3). Vedo Energy have shown the dyke has a minimum drill indicated thickness of 5 metres and current maximum drill indicated depth of ~31 metres, based on historic drill intersect in Hole Red 3/4 (Figure 6). Unfortunately, the original legacy drill core has not been located to confirm its REO potential.

Figure 4: Drill Collar Plan View

Figure 5: Trench 1

Table 3: 2009 REE surface sampling results

Figure 6: Historical Drill plan of interpreted Dyke at Depth

Ten of twenty five rock chip samples collected by North-East Minerals Pty Ltd in 2011, were from the REO-bearing dyke. Total REO for the ten samples ranges from 0.93% REO to 12.8% REO, with an average of 5.0% REO (Table 4). These results confirm the prospectivity of the REO-mineralised dyke at Redlings 3.

Table 4: Assay results in 2011 North-East Minerals Sampling Program

Table 4: Assay results in 2011 North-East Minerals Sampling Program

Seventeen soil samples collected by North-East Minerals where the REO occurrence is obscured by recent sediments, show the target extends to the northwest beneath the cover and is much thicker than displayed in exposures in the surface trenches.

Figure 7: a) Jungle Well Structural Interpretation from Magnetic Survey (RTP 1VD); b) Auger Sampling Rare Earth Oxide Anomalies Contoured at 500ppm TREO

Victory Mines in 2013 identified a major regional structure connecting the three Redlings prospects through a detailed magnetic and radiometric survey (Figure 7a).  The structure has a strike length of approximately 11km and is considered to be highly significant in controlling the distribution of the rare earth mineralisation (WAMEX A102599). Shallow auger drilling (25 x 500m pattern on 250m line spacing) along the length of the structure outlined twenty-eight separate REO and gold anomalies (fourteen of each; Figure 7b). The anomalies ranged up to 700m long and 80m in width in REO, and up to 700m in length and up to 120m in width in gold. The maximum gold in soil geochemical anomaly was up to 242ppb, with all anomalies remaining open in one or more direction (WAMEX A105988). Additional auger drilling targeting commodities other than REO was completed on the periphery of REE trend with no significant results returned.

The Company finds considerable promise in the REO tenor present at Redlings, especially when considered in the context of some of the world’s major contemporary producers, such as Mt Weld and Mountain Pass (Table 5).

Table 5: REE Comparisons for Redlings (formerly referred to as Jungle Well)

Proposed Exploration Program

It is proposed that a low level aerial magnetic and radiometric survey be undertaken to determine the extent of the ultramafic intrusives, which potentially control REE mineralisation. Additional geochemical sampling will also be undertaken together with ground mapping. A significant drilling program will follow up on targets generated from this previous work in the up-coming months.

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