Mount Ridley Defines Large Heavy Rare Earth and Scandium Resources at WA Project

Mount Ridley Mines Limited ( (AU:MRD) ) has issued an update.

Mount Ridley Mines has defined an inferred rare earth mineral resource of 122.54 million tonnes at 889ppm TREO, including 44,610 tonnes of high-value heavy rare earth oxides such as dysprosium and terbium, over more than 15.8km of strike at its Mount Ridley project. The company has also reported a substantial inferred scandium resource of 367.98 million tonnes at 57.3ppm Sc, with mineralisation in heavy rare earths, scandium and gallium co-located in a laterally extensive system that is interpreted to extend beyond the current resource footprint.

Metallurgical testwork has confirmed favourable leach responses for heavy rare earth elements, and a multi-element re-assay program covering about 3,300 samples from 134 drillholes is under way to support resource growth and upgrades across heavy rare earths, scandium and gallium. The board has been strengthened with new leadership appointments, and with $2.5 million in cash at the end of March the company is positioned to advance its multi-element critical minerals strategy, potentially enhancing its market position through a higher-value product basket.

More about Mount Ridley Mines Limited

Mount Ridley Mines Limited is an Australian exploration company focused on developing the Mount Ridley Critical Minerals Project near Esperance in Western Australia. The project targets a rare regolith-hosted, multi-element system containing heavy rare earths, scandium and gallium within saprolitic and lateritic horizons, aiming to supply critical materials for advanced technologies and clean energy applications.

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Current Market Cap: A$41.18M

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