Golden Mile Resources Limited Announces REE Mineralisation at Quicksilver Ni-Co Project
chromium, iron, and industrial minerals at Quicksilver. The next investigation will determine how much of the REE mineralisation is ionic, that is the amount of REE that is loosely bound to the clay host that can be liberated using low-cost methods typical for this style of mineralisation. If this investigation demonstrates there is a significant component of ionic REE mineralisation, then REE by-product potential can be assessed and incorporated into the process flowsheet if warranted. Golden Mile can differentiate itself from most other REE explorers in that the Quicksilver project is a multi-commodity deposit with nickel and cobalt as the current main economic drivers following
excellent Stage 2 metallurgical results last year which demonstrated a potential pathway to production. This means that if the REE mineralisation is viable it will be in addition to these commodities which will be a significant economic benefit when compared to an REE only project. Furthermore, the cost and time of ongoing investigations into the viability of the REE mineralisation can also be significantly reduced because there is existing resource drilling which can be re-assayed for REO. Also, any metallurgical testwork and subsequent flowsheet design can be incorporated into the Stage 3 metallurgical testwork scheduled to commence late next month.