ASX-listed explorer Dundas Minerals (ASX:DUN) has locked in the ownership of exploration licence E63/2063 within its Dundas Project in Western Australia from unlisted public company Golden Camel Mining.
With this transfer of ownership, Dundas reports it now holds 100% of the Dundas project area. Dundas exercised its option to acquire the licence in early June 2023. The company says this licence covers an area that has historically been explored for gold.
Dundas also reports assay results, as well as an independent analysis and interpretation of the assay data from the northwest soil sampling completed in April 2023, has been received.
The company says no ‘stand-out’ geochemical anomalies were identified from the soil sampling, but the work provides a ‘valuable’ dataset for the company. As a result, Dundas is continuing to review its geophysical, geological, geochemical, and historical exploration datasets to prioritise and rank targets for further exploration. Future exploration programs and priorities will be advised as they are developed.
Dundas also reports it has now completed a compilation and review of various geophysical and geology datasets to plan a rare earth element (REE) exploration program.
This program will initially see the company complete 400m-spaced aircore (AC) drilling, which will begin once requisite approvals have been received and access to the proposed drilling programs has been established.
On 28 April 2023, Dundas reported it received elevated REE values up to 1,241.8 parts per million (ppm) Total Rare Earth Oxides (TREO) in assays from 4 reverse circulation (RC) drillholes completed at Matilda South, which targeted nickel and copper mineralisation. In 2022, the company also reported elevated REE values up to 1,485.5ppm TREO in assays from RC drilling completed at the Jumbuck and Kokoda prospects.
The company says it was not until 2021-2022 that various ASX-listed companies, including Mount Ridley Mines (ASX:MRD), OD6 Metals (ASX:OD6), and West Cobar Metals (ASX:WC1), pioneered dedicated REE exploration programs in the Albany-Fraser Orogen.
Other ASX-listed explorers with assets adjacent to Dundas have also completed REE-specific exploration programs, such as Metal Hawk (ASX:MHK).
Dundas Minerals is an ASX-listed explorer focused on its Dundas Project in the Albany-Fraser Orogen near Esperance in Western Australia. The project is considered prospective for nickel, copper, gold, and REEs.
The company had $2.2 million cash at hand on 31 March 2023, according to its latest quarterly report published on 21 April.
Images: Dundas Minerals Ltd