Resource Star (ASX: RSL) is moving its focus to new resource sectors including oil in continental U.S.
Resource Star (ASX: RSL) has flagged the start of drilling at the Machinga Rare Earths Project in Malawi by Globe Metals and Mining (ASX: GBE) today.
The 4,000 metre reverse circulation drilling program is designed to extend the significant heavy rare earth oxides and niobium mineralisation identified in a 2010 drilling program.
Results from that program included:
- 11 metres at 1% total rare earth oxides (TREO) with 330 grams per tonne (g/t) dysprosium from 12 metres, including 4 metres at 1.4% TREO with 492g/t dysprosium; and
- 5 metres at 1.55% TREO with 596g/t dysprosium from 19 metres, including 1 metre at 2.5% TREO with 971g/t dysprosium.
The current program will target the Machinga Main Zone and previously identified anomalies at the Lingoni prospect.
Resource Star owns 80% of the Machinga project, with Globe holding a 20% interest.
Globe is able to earn up to an 80% stake in the project by completing a Feasibility Study.