Magnetic Resources NL announced further assaying from an Initial aircore drilling in the wheatbelt region of Western Australia within the Trayning tenement (E70/3604) has intersected significant thicknesses of very
anomalous shallow clay-hosted rare earth elements (REE) with thicker intersections of total rare earth oxides (TREO) including: 58m at 904ppm TREO from 12m in MTRAC007; 60m at 990ppm TREO from 8m in MTRAC009
52m at 1096ppm TREO from 12m IN MTRAC011; 52m at 1343ppm TREO from 12m in MTRAC013; 46m at1061ppm TREO from 8m in MTRAC037; and 28m at 989ppm TREO from 4m in MTRAC055. REE grades are highest and thickest at the 2km-long EW trending aeromagnetic anomaly in the southwest part of the exploration licence. Wide spaced drilling has been carried out on holes 100m apart with a line spacing of 650m, with REE enrichments and thicknesses remaining open in an EW direction. This core zone over this 650m length, is very thick and starts from shallow depths and is very anomalous with an average of 823-1343ppm TREO with the best
intersection of 52m at 1343ppm TREO from 12m in MTRAC013. Weathering at the magnetic anomalies 10km to the northeast is shallower with a thicker weathered zone in drillhole MTRAC055. As a result of these highly anomalous results and recognizing the potential for the Trayning region to be within a new REE province two tenements were applied for totaling 198 sq km. These early results are very encouraging and compare favourably with other clay hosted REE mineralization currently being explored by Australian explorers with examples as follows: Australian Rare Earths: Koppamurra Mineral Resource 39.9Mt @ 725ppm TREO, including 179.3ppm MREO. · Mount Ridley Mines: Mount Ridley project aircore drill intercepts TREO range 351- 1346ppm, MREO range 75-476ppm, thickness range 3-40m. Ionic Rare Earths: Mukuutu Mineral Resource 532Mt @ 640ppm TREO, 480ppm LREO, 160ppm HREO and 220ppm CREO. This initial shallow drilling of 29 holes for 956m (average 33m) targeted a series of linear, arcuate and domal aeromagnetic anomalies, including a prominent 2km long EW anomaly trending situated about 10km northwest of Trayning, some 200km northeast of Perth and the drilling intersected weathered magnetite and biotite-bearing granitic rocks after which selected drill samples were analysed for rare
earth elements. The distribution of anomalous REE coincide with what appear to be flat-lying ferruginous zones within a residual saprolitic profile above the granite. Significant TREO intersections with >500ppm. Drillhole details and analytical results for total rare earth elements (TREE) with>500ppm TREO.