The Redlings Rare Earths Project is located approximately 40km west of Leonora and 77km north of Menzies in Western Australia. The project has advanced from early-stage exploration to a defined rare earths asset with a maiden Inferred Mineral Resource Estimate, a substantial Exploration Target and a strategic rare earth processing technology pathway.

The maiden Redlings Inferred Mineral Resource, reported at a cut-off grade of 800ppm TREO, is 11Mt at 1,130ppm TREO for 12,430t contained REO. Magnetic rare earth oxides comprise 2,316t contained MREO at 211ppm. The resource is supported by drilling across five previously targeted prospects within the core Redlings tenure at E37/1311.

Marquee has also defined a JORC 2012 Exploration Target surrounding the existing MRE of 204Mt to 306Mt at 950ppm to 1,130ppm TREO for 194,000t to 346,000t contained REO. The Exploration Target is designed to assess the potential to link the existing mineralised prospects through a 160m by 160m infill drilling program and to test additional satellite targets identified from auger and magnetic signatures.

Redlings is also supported by Marquee’s rare earth processing technology strategy. Marquee has executed a Non-exclusive Research and Development Patent License and Option Agreement (PLA-2166) with UT-Battelle LLC, the managing entity of Oak Ridge National Laboratory, which operates under its Prime Contract with the United States Department of Energy, DE-AC05-00OR22725.

The agreement provides Marquee with a non-exclusive research and development licence to the ORNL NEAREST patent portfolio within a defined field of use, together with an option during the term to negotiate a non-exclusive commercial licence. NEAREST is a DOE-funded rare earth separation technology that uses a non-aqueous approach to selectively extract and separate rare earth elements from mixed feedstocks. Marquee’s disclosed technology strategy is to assess how this technology may apply to Redlings’ clay-rich laterite mineralisation and improve the potential processing pathway for the project.

Redlings is positioned as a rare earths resource-and-technology project. The resource scale, Exploration Target and ORNL/DOE-linked technology access are the lead investment and technical themes, supported by clear ASX links and required JORC cautionary wording.

​References

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• 22 January 2025 ASX release: Redlings maiden Inferred MRE and Exploration Target.

• 31 December 2025 Half-Year Report: Redlings MRE and Exploration Target summary.

• 9 April 2026 ASX release: MQR Secures DOE-Linked Oak Ridge REE Processing Licence.

• 15 April 2026 ASX release/presentation: Redlings REE and ORNL NEAREST Investor Presentation.

• Source URL: https://data-api.marketindex.com.au/api/v1/announcements/XASX%3AMQR%3A6A1320527/pdf/inline/mqr-redlings-ree-and-ornl-nearest-investor-presentation

The Exploration Target wording must be included on the page: the potential quantity and grade of the Exploration Target are conceptual in nature, there has been insufficient exploration conducted to estimate an upgraded Mineral Resource, and it is uncertain whether further exploration will result in the estimation of an increased Mineral Resource. The NEAREST/ORNL material must not be written as a commercial processing outcome or guarantee; it is an R&D licence and option agreement, not a current production license.