Overview of AR3's latest drilling campaign

Australian Rare Earths Limited (ASX: $AR3) has announced the extension of high-grade mineralisation north of the existing Koppamurra Resource in South Australia. The latest assay results from the drilling campaign, which commenced in October 2023, have revealed similar high-grades, thickness, and rare earth magnet content to the existing resource. The company completed a drilling program covering approximately 8,750 meters for 694 holes, focusing on extending the known mineralisation in an area that had not previously been drill tested and resource definition upgrades in the southern resource area.

Executive commentary on the latest results

We now have over 65,000 meters drilled since 2021 at our Koppamurra rare earth project. This has enabled us to define a significant Mineral Resource and demonstrated the mineralisation to be extensive across the province. Pleasingly, the results from the most recent drilling which concluded at the end of 2023 continue to demonstrate the potential for a high-grade and high magnet rare earth subset of the broader Koppamurra resource. Magnet rare earth content is one of the key economic drivers of rare earth projects so prioritising the higher value mineralisation zones early is driving our development plans. We are now focused on progressing our plans for a high-grade progressive heap leach and rapid rehabilitation development pathway at Koppamurra, to develop an alternative, sustainable supply of rare earths essential for the clean energy transition and national security.

Summary of AR3's announcement and outlook

Australian Rare Earths Limited (ASX: $AR3) has reported the extension of high-grade mineralisation north of the existing Koppamurra Resource, with the latest assay results demonstrating similar high-grades, thickness, and rare earth magnet content. The company plans to provide an update to the Koppamurra Mineral Resource Estimate and Exploration Target in the September 2024 quarter. With a focus on developing a high-grade progressive heap leach and rapid rehabilitation development pathway at Koppamurra, AR3 aims to establish an alternative, sustainable supply of rare earths essential for the clean energy transition and national security. The company's commitment to the timely exploration and development of its flagship Koppamurra Project aligns with its goal of becoming an independent and sustainable source of energy transition metals, playing a pivotal role in the global transition to a green economy.