ABx Group (ASX:ABX) is accelerating its rare earths exploration program in northern Tasmania following China’s imposition of export controls on dysprosium and terbium. The company’s exploration license in Temple Bar, located south of the Portrush REE discovery, is being targeted for new mineralisation. Using a trailer-mounted auger rig, ABx aims to penetrate the full depth of the designated tenement, with plans to deploy a more powerful rig if initial samples show promising results. The drilling targets were identified using the company’s remote sensing technology, which was initially tested at the Deep Leads and Rubble Mound project.
CEO Dr. Mark Cooksey emphasized that this campaign will explore new ground with strong geological potential, advancing the company’s strategy to become a long-term supplier of rare earths. He highlighted the escalating global demand and the urgency for alternative, secure sources of these critical minerals. China’s export controls on dysprosium and terbium, essential for high-performance magnets, have underscored the need for diversified supply chains. ABx, with its ionic absorption clay rare earth resource in Tasmania and relationships with potential processing operations in the US, is positioned to capitalize on this opportunity. The Deep Leads Project contains 89 million tonnes @ 844ppm TREO, including 36ppm of dysprosium and terbium, making it a valuable resource for customers seeking to diversify their supply sources.
