Torian eyes rebrand at WA gold play after critical minerals hit

Torian Resources’ Mt Stirling project in the Eastern Goldfields region of WA is scrubbing well and looks set to be a formidable multi-commodity play after the company identified an extensive suite of cobalt and scandium mineralisation that could lead to a significant rebrand for the gold miner. The operation already boasts heavy rare earths potential and a set of gold deposits.

Torian is now looking to rebrand itself as “Asra Minerals Limited” and the company says it will table the proposal at its annual general meeting next week.

According to management, Torian is only renowned for gold and if waved through, Asra will be synonymous with clean heavy rare earths, critical minerals and the precious yellow metal.

Torian says its latest probe not only underlines the venture’s cobalt and scandium potential but confirms the presence of heavy rare earth elements or “HREEs” across a 1.1km strike zone.

HREEs are a class of metals that are essential for a greener economy. They are utilised in the fabrication of industrial strength magnets for hybrid and electric vehicle motors, wind turbine generators and high-end electronics.

The company has suggested the broad HREE occurrences at Mt Stirling span up to 12m from the surface and the results were delivered through the first 30 auger vacuum holes at the operation.

Some of the significant total rare earths and yttrium oxide, or “TREYO” and scandium oxide intercepts include 10m at 743 parts per million TREYO with 70ppm scandium oxide from 7m. The 10m strike housed a richer 2m section going 1351ppm TREYO plus 68ppm scandium oxide from 9m and a 1m hit running 1529ppm TREYO plus 67ppm scandium oxide from 10m.

Other notable results are 7m at 646ppm TREYO plus 65ppm scandium oxide from surface with a higher-grade 2m component grading 1082ppm TREYO plus 63ppm scandium oxide from just 1m.

Some of the longer intersections include a 12m strike at 557ppm TREYO from 8m with a 1m component going 1335ppm TREYO from 19m.

Intriguingly, the company's Yttria prospect holds all five of the most critical and in demand rare earth elements including the rarer dysprosium, terbium, europium, neodymium and yttrium.

The venture is also distinguished by a high ratio of heavy rare earths to total rare earths and a lack of radioactivity – ingredients that could potentially set it apart in the marketplace.

Management says the remarkable heavy rare earths proportions, lack of uranium and thorium and the potential for a 3.6-kilometer continuous HREE corridor position makes Yttria a significant asset for the company.

The Mt Stirling project has a current JORC compliant total mineral resource estimate of 118,400 ounces of gold and with a brace of new commodities to chase down and a potential rebranding on the cards, the company could be laying the foundations for a busy year ahead – and a focus on multiple mineral suites – not just gold.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au