Ark Mines progresses rare earths project in North Queensland

Ark Mines Limited (ASX: $AHK) has reported significant progress in its exploration program at Sandy Mitchell's Rare Earths development project in North Queensland. The company announced the successful completion of the Stage 1 drill program, with all assays received, confirming consistent Rare Earth Element (REE) and Heavy Mineral (HM) intercepts. The results further validate Ark's development strategy for Sandy Mitchell, emphasizing low-cost, straightforward beneficiation by gravity processing. The company's Executive Chairman, Roger Jackson, expressed optimism about the project's potential and upcoming milestones.

Executive Chairman's Perspective on Progress and Future Plans

Roger Jackson, Executive Chairman of Ark Mines, highlighted the successful completion of the Stage 1 drill program at Sandy Mitchell's Rare Earths project. He emphasized the positive assay results, which confirmed significant REE and HM intercepts, supporting the company's development strategy. Jackson also mentioned the forthcoming release of the maiden Mineral Resource Estimate for Sandy Mitchell and ongoing metallurgical test work with Mineral Technologies. He expressed confidence in the project's scale and the potential for a low-cost, bulk mineable resource. Additionally, the memorandum of understanding with Currumbin Minerals for the supply and delivery of Heavy Mineral Sands signifies progress towards commercial development partnerships.

Outlook and Future Plans

Ark Mines' progress in the exploration program at Sandy Mitchell's Rare Earths project demonstrates the project's potential for significant mineralization. The successful completion of the Stage 1 drill program and positive assay results pave the way for the maiden Mineral Resource Estimate and subsequent Pre-Feasibility Study. The company's collaboration with Currumbin Minerals for the supply and delivery of Heavy Mineral Sands reflects a strategic move towards commercial development partnerships. With ongoing metallurgical test work and plans for advanced drilling and water monitoring, Ark Mines is focused on advancing the project towards production. The company's portfolio of projects, including Mt Jesse Copper-Iron, Gunnawarra Nickel-Cobalt, and Pluton Porphyry Gold, positions it well for future growth and diversification.