RareX Limited reported significant new assay results from diamond drilling completed late last year targeting the primary zone at its 100%-owned Cummins Range Rare Earths Project in Western Australia. The results continue to highlight the outstanding potential of the primary zone at Cummins Range and reinforces the exciting opportunity to substantially increase the current Mineral Resource of 18.8Mt at 1.15% TREO + 0.14% Nb2O5 (Indicated Resource of 11.1Mt at 1.32% TREO + 0.17% Nb2O5; Inferred Resource of 7.7Mt at 0.88% TREO + 0.11% Nb2O5). Results have been received for drill holes CDX0006, the remainder of CDX0007, CDX0008, CDX0009, CDX0010, the remainder of CDX0011, CDX0012 and CDX0013.

A total of 93 significantly mineralised zones above 0.5% TREO have been drilled through ranging from 0.4m to 39m wide. The highlights for the assays received are four Main Fault intercepts with two containing exceptional silver grades: 16.5m at 2% TREO with 0.4% NdPr and 0.1% Nb2O5 and 50 g/t Ag, including: 3m at 6% TREO with 1% NdPr and 0.1% Nb2O5 and 25 g/t Ag (CDX0012). 15m at 1.8% TREO with 0.4% NdPr and 0.1% Nb2O5 and 102 g/t Ag, including: 11m at 2.3% TREO with 0.4% NdPr and 0.1% Nb2O5 and 138 g/t Ag (CDX0010).

13m at 1.8% TREO with 0.3% NdPr and 0.1% Nb2O5, including: 8.6m at 2.5% TREO with 0.4% NdPr and 0.1% Nb2O5 (CDX006). 26m at 2.3% TREO with 0.5% NdPr and 0.3% Nb2O5, including: 2.8m at 6.6% TREO with 1.2% NdPr and 0.8% Nb2O5 (CDX0013). Drill-hole CDX0012 returned a wide intersection of 16.5m at 2% TREO with 0.4% NdPr and 50g/t Ag, including 3m at 6% TREO with 1% NdPr and 25g/t Ag.

The silver results are unexpected with several assays returning highly elevated results. The nature of the silver mineralisation is under investigation. Strong visual mineralisation has been identified down-dip in hole CDX0016 with results expected in the coming weeks.

Drill-hole CDX0013 was drilled 50m to the west of CDX0012 and is the shallowest and westernmost hole that has been drilled at 50 degrees azimuth. CDX0013 intersected wide Main Fault mineralisation returning 26m at 2.3% TREO with 0.5% NdPr and 0.3% Nb2O5 including 2.8m at 6.6% TREO with 1.2% NdPr and 0.8% Nb2O5. No drilling has been completed to the west of this hole at the correct azimuth of 50 degrees, with all historical holes drilled at 180 degrees and sub-parallel to mineralisation.

The Company is looking forward to testing for extensions to the north-west in the first half of this year. Drill-holes CDX0006 and CDX0010 were completed on the same section and intersected multiple mineralised zones including the Main Fault. Three of the more strongly mineralised zones correlate well with high-grade intersections in the regolith where dispersion and upgrading has occurred.

Drill-hole CDX0006 was completed 70m down-dip of hole CRX0002 (41m @ 4% TREO and 0.2% Nb2O5). The three main mineralised zones with the two deeper zones returning wide, high-grade intervals. The Main Fault returned 13m at 1.8% TREO with 8.6m at 2.5% TREO and 0.4% NdPr and 0.1% Nb2O5 in hole CDX0006 and 40m down-dip hole CDX0010 intersected 15m at 1.8% TREO with 11m at 2.3% TREO with 0.4% NdPr and 0.1% Nb2O5 and 138 g/t Ag.

This zone is interpreted to be the down-dip extension of the high-grade mineralisation in hole CDX0002. The high-grade regolith mineralisation in hole NRC068 (53m @ 3.5% TREO & 0.2% Nb2O5 including 19m @ 5.1% TREO & 0.3% Nb2O5) has been extended 110m down-dip to hole CDX0006 with 10.1m at 1.3% TREO with 2.7m at 3.1% TREO and 0.5% NdPr. The mineralisation has thinned out within this structure in hole CDX0010, but is expected to increase in hole CDX0018, which intersected strong visual mineralisation.

The remainder of the diamond core assays were received for CDX0007 with an intersection of 39m at 0.8% TREO from 32m, including 0.9m at 5.4% TREO. This broad zone sits on top of the previously announced results of 61.4m at 1% TREO and 0.25% Nb2O5 from 81.9m. Mineralised breccia intersections for holes CDX0008 and CDX0009 from the centre of the deposit were also received with 10.5m at 1.2% TREO and 0.3% Nb2O5 in hole CDX0008 and 10.8m at 1.4% TREO and 0.3% Nb2O5 in hole CDX0010.

The Main Fault was also intersected in holes CDX0008 and CDX0009 and had narrow mineralised zones within a tight mylonitic structure. This area requires further drilling to test if the structure will allow more favorable conditions for REE mineral development. Assays for six diamond drill holes are still outstanding and are expected in coming weeks.