RareX Limited (ASX: $REE) acquires district-scale niobium project in the East Yilgarn, WA

RareX Limited (ASX: $REE) has announced the acquisition of a large, district-scale, niobium-rare earth project in the East Yilgarn, 290km east-northeast of Kalgoorlie in Western Australia. The acquisition supports RareX's goal of becoming a leading critical metals company with a strong focus on continuing to discover major new carbonatite-hosted mineral deposits.

Executive Commentary

RareX CEO, James Durrant, expressed excitement about the acquisition, stating, 'This acquisition is tremendously exciting for us. The new Khaleesi Project is well endowed with geological data from large-company programmes that were mainly gold-focused and never properly tested or evaluated the extensive niobium anomalies and rare earth potential. Through our due diligence we've identified the opportunity for a district-scale niobium project and will immediately commence a highly targeted exploration program.'

Summary

RareX Limited (ASX: $REE) has successfully acquired the Khaleesi Project, a district-scale niobium-rare earth project in the East Yilgarn region of Western Australia. The project is strategically located near highly-endowed mineral deposits, indicating significant potential for niobium-enriched carbonatite(s). The company plans to conduct a rapid exploration program targeting areas of elevated niobium within the Project area. The acquisition aligns with RareX's ambition to become a leading critical metals company and develop major new carbonatite-hosted mineral deposits. The company's strong focus on continuing to discover major new carbonatite-hosted mineral deposits is evident in this strategic move. The global niobium market is expecting steady growth, driven by increasing demand from various industries, presenting growth opportunities for RareX. The successful capital raise and planned exploration program indicate a positive outlook for the company's corporate strategy and the announcement.