RareX Limited (ASX:REE) has signed a site access agreement with Narnoo Mining, a subsidiary of Deep Yellow Limited, for exploration tenure at the Khaleesi Project. The agreement covers tenements E39/2410 and E39/2415, clearing the way for their expected grant within the next month. In addition, E39/2495 and E39/2496 have been fully granted following mandatory notification and assessment periods.
The company has completed reconnaissance surveys and is now preparing for further heritage and flora surveys, scheduled for late February and mid-to-late March, respectively. These surveys will be the final prerequisites before submitting a Program of Work (PoW) to DEMIRS for regulatory assessment and approval.
RareX has identified five priority targets within the Khaleesi Project for an initial high-impact drilling program, focusing on areas suggestive of carbonatite intrusions. The company is finalising its optimised exploration plan in preparation for drill mobilisation later this year. A newly staked tenement, E39/2494, is also subject to a separate access agreement with Narnoo, which is expected to be resolved in the coming weeks.
Preparations for exploration at Cummins Range and Mt Mansbridge are advancing, with fieldwork expected to commence once seasonal rains subside. The Khaleesi Project is located near Mt Weld and along strike from the Ponton Dyke and Cundeelee carbonatite, sharing geological similarities with the Caldeira project in Brazil. It contains a 20km-diameter alkaline intrusive complex that RareX has reinterpreted using extensive gravity and magnetics data. Prior drilling in the area primarily targeted shallow gold deposits, but RareX’s new geological modelling suggests significant potential for rare earth and niobium mineralisation associated with carbonatite intrusions.
The company is progressing a broader rare earths strategy, with exploration efforts at Khaleesi forming part of its larger carbonatite-focused portfolio.
