Mount Ridley Mines Shares rise on start of resource drilling at namesake WA project
- Mount Ridley Mines (MRD) kicks off resource drilling at its namesake rare earths project in Western Australia
- This round of drilling comes a year after the company’s first rare earth element (REE) drilling program and is being carried out at the Mia and Marvin targets
- Of the 87 drill holes completed at the project to date, 62 returned total rare earth oxide grades above 500 parts per million
- MRD says the Mia and Marvin targets are a priority due to their potential for beneficiation, clay type, TREO grade, depth of cover and high-value magnet rare earths
- Company shares are up 16.7 per cent and trading at 0.4 cents at 2:47 pm AEDT
