viewAmerican Rare Earths Ltd

Broken Hill Prospecting adds to its extensive exploration portfolio in the Broken Hill district

Numerous polymetallic prospects have already been identified ranging from emerging through to advanced.

The company's extensive tenement portfolio
The company's extensive tenement portfolio

Broken Hill Prospecting Ltd (ASX:BPL) has been granted three exploration licences in the Broken Hill district of New South Wales, significantly increasing its exposure to this world-class mineral province.

The new tenements cover 209 square kilometres of under-explored ground with numerous base, precious and industrial mineral prospects.

The three new areas augment BPL’s existing rights to base and precious metals at the Thackaringa Cobalt Project with joint venture partner Cobalt Blue Holdings Ltd (ASX:COB).

READ: Broken Hill Prospecting working with JV partner to realise value of major cobalt asset

Furthermore, the new licenses represent a strategic broadening of BPL’s exploration focus in the Broken Hill Region.

Notably, rocks of the Broken Hill Group, which hosts the giant Broken Hill lead-zinc-silver orebody containing 30 million tonnes of lead, 24 million tonnes of zinc, one billion ounces silver and one million ounces gold, are widely distributed across the tenement portfolio with multiple prospects prioritised for further exploration.

Massive cobalt-pyrite mineralisation from the Railway deposit within the Himalaya Formation

BPL managing director and chief executive officer Trangie Johnston said: “Commencement of a multi-faceted exploration program at Broken Hill highlights the unique character of this great mining region and the high-quality targets within our portfolio.

“The application of modern exploration technologies gives us fresh eyes with which to thoroughly assess our ground at Thackaringa and also the three new licences granted to us closer to the Broken Hill line of lode.

“The fact that this is a multi-play for base and precious metals, including cobalt makes the work even more important for our shareholders.”

READ: Broken Hill Prospecting confirms robust pre-feasibility results for Thackaringa Cobalt Project

BPL is now planning a diversified exploration strategy for:

• Base metals (copper, lead, zinc, nickel, cobalt);
• Precious metals (gold and silver); and
• Industrial minerals and non-metallics.

A new era of on-ground exploration will commence at Thackaringa for base and precious metals and to extend known cobalt deposits.

Importantly, numerous polymetallic prospects have already been identified ranging from emerging through to advanced.

Quick facts: American Rare Earths Ltd

Price: 0.018 AUD

Market: ASX
Market Cap: $5.24 m

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