The Kennedy Rare Earth Project is held as a non-core asset within DevEx’s portfolio. Decisions regarding value realisation of non-core assets form part of DevEx’s broader strategic growth plans.
Location
North Queensland (100%)
The Kennedy Rare Earth Element (REE) Project is an advanced exploration project in North Queensland, Australia.
The Kennedy Project remains one of only a select few ionic clay projects that have been defined in Australia and is considered to be similar to the Makuutu Heavy Rare Earths Project in the Republic of Uganda owned by Ionic Rare Earths Limited (ASX: IXR).
The Project is well-located nearby to existing infrastructure networks, including transportation, power supply and bulk port facilities. Queensland has a well-established mining sector supported by a skilled workforce and government support.
Inferred Mineral Resource Estimate
DevEx has defined an Inferred Mineral Resource Estimate (MRE) for the Kennedy Project, which totals 150 million tonnes at 1,000ppm TREO (470ppm TREO-CeO2)1. Click here to view the complete Inferred MRE Announcement and tables.
The entire Inferred MRE sits in unconsolidated clay-rich gravels commencing from surface with no overburden.
Previously reported preliminary metallurgical test work demonstrates rapid recoveries can be achieved by desorption of REE in the first 30 minutes using ammonium sulfate solution ((NH4)2SO4) in weak acidic conditions (pH4) with very low acid consumption.
There is potential to expand the Inferred MRE with in-fill and extensional drilling to target several priority areas outside the Inferred MRE to the west.
Next Steps
Further metallurgical testing is underway.
View our latest Investor Presentation or ASX Announcements for the most up to date news.
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- Using a cut-off grade of 325ppm TREO-CeO2 ↩︎