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ASX-listed ABx Group is targeting more metallics in Tasmania after unveiling a new high-grade rare earths prospect 52 kilometres east of its Deep Leads REE prospect in Tasmania. According to the company, the results from the newly discovered Portrush prospect include 581 parts per million neodymium and a solid 4,800 ppm total rare earth oxides over a one metre mineralised section from 11 metres.

Recent assay results from ABx Group's Deep Leads rare earth element discovery in northern Tasmania have proven the mineralisation extends over an area greater than 3km. Importantly, results from one hole set a record with the highest grade of total rare earth elements from Deep Leads, returning a whopping 3,306 parts per million TREO. The company has just commenced an extension drill program.

The first leach-test results from Abx Group's rare earth elements mineralisation at its Tasmanian bauxite project have confirmed the rare earths can be leached by cold water, with enhanced reaction times and recoveries if ammonium sulphate is added to the mix. Importantly, the heavy rare earth elements are enriched in the precipitate and deleterious elements are depleted and only very low radioactive elements remain in the concentrate.