ABx Group announced an updated Mineral Resource Estimate that more than triples the tonnage of the rare earth elements (REE) deposit at the Deep Leads - Rubble Mound channel, located in northern Tasmania. The interim Mineral Resource is based on 720 drill holes totalling 5,825 metres drilled and
2,091 metres assayed. New intercepts used in this Resource upgrade since the previously announced Maiden Resource. This Resource estimate is slightly shallower than the previously announced Maiden Resource2, with the average overburden reducing from 4.4m to 3.8m. By applying the higher cut-off grade of 250ppm TREO-CeO2 for this Resource estimate, the average resource thickness reduced from 7.8m to 7m. However, following the discovery of several thicker, yet to be assayed holes, ABx anticipates the thickness to increase in future estimates. To assist the planning of further drill-evaluation strategies, a tonnage-grade graph has been created to show the tonnages of resources and average grade of those tonnages, sorted from grade to lowest grade. Results are reported in TREO as well as TREO minus cerium oxide, as CeO2 is relatively low in value.