Kimberley Rare Earths Ltd ? Quick Note on ASX Release - 25 August 2011
Geophysics Identify Multiple Significant Drill Targets Next to Existing JORC Resource
Event: KRE has released the results of a high-resolution aeromagnetic data defining considerable REO potential within the Cummins Range pipe.
Comment: The results open up opportunities. As mentioned earlier, the existing JORC resource is a starting point and KRE has the potential to easily triple the REO resource, if the correlation between zones of magnetic low and REO-bearing zones continues.
Going forward the first 5,500 RC drilling program commencing 7 Sept will focus on infill drilling the existing resource as well as test the high-grade extension to the north-west.
KRE is now looking for a second drill rig to start testing the new targets sooner rather than later.
