RareX secures critical agreement with AngloGold Ashanti to unlock Khaleesi project drilling potential

RareX Limited, an Australian minerals exploration company, has taken a significant step forward in advancing its Khaleesi Project by signing a crucial site access agreement with AngloGold Ashanti. This deal will allow RareX to use the Tropicana access road, clearing the final hurdle for the granting of exploration licence E39/2504. This licence is integral to unlocking the Khaleesi Project, a 966-square-kilometre area in Western Australia‘s Yilgarn region, which is highly prospective for rare earth elements (REE), niobium, and gold.

The agreement follows a similar deal with the UUNAC Native Title group, leaving only a pending access agreement with Deep Yellow, which is expected to be resolved soon. Once this is finalised, RareX will be able to proceed with high-impact drilling activities, targeting niobium, rare earths, and gold across the project.

Khaleesi Project’s drilling potential

The Khaleesi Project is located near the Tropicana gold mine and covers the Khaleesi Alkaline Intrusion Complex (KAIC). The site has shown great promise in early exploration, with data indicating niobium enrichment of up to 1,000 parts per million. The area holds significant potential for discovering new REE and niobium deposits, positioning RareX to capitalise on the growing demand for critical minerals used in electric vehicles, wind turbines, and other green technologies.

E39/2504, the tenement granted as part of the access agreement with AngloGold Ashanti, sits just 20 kilometres south of the Tropicana gold mine. With this agreement, RareX now has access to priority drilling targets in the northern portion of the Khaleesi Project. Previous exploration has highlighted the area’s potential for gold, copper, and uranium deposits, with key findings such as intersections of up to 14 metres of gold at 1.4 grams per tonne in nearby areas.

Expert opinion on RareX’s strategy

Industry experts view RareX’s continued progress on the Khaleesi Project as a strategic move. Securing access agreements with key stakeholders like AngloGold Ashanti and the UUNAC Native Title group shows the company’s determination to push forward despite regulatory and logistical challenges. The finalisation of the Deep Yellow agreement will further cement RareX’s position as a frontrunner in Western Australia’s critical minerals sector.

This exploration project is not only about discovering rare earth elements and niobium but also tapping into the global shift towards cleaner energy sources, where these materials are indispensable. As global demand increases, companies like RareX are positioning themselves to be key suppliers of critical minerals. RareX’s Khaleesi Project has the potential to deliver large-scale discoveries, strengthening its portfolio alongside its Cummins Range Project.

Road ahead for RareX

RareX is progressing through its plans for field exploration, with a Programme of Work already submitted to the Department of Mines, Industry Regulation and Safety (DMIRS) and Native Title holders for approval. The company’s strategy includes completing ground geophysical work to refine drilling targets for the upcoming exploration phase scheduled for the first half of 2025.

The resolution of the Deep Yellow agreement remains a critical milestone for RareX, as it deals with access to a conservation management area that forms part of Deep Yellow’s Mulga Rocks project. RareX has made significant progress in negotiating this agreement, with both parties aligned on environmental and operational controls.