RareX Finds 74 Meter Zone of Copper Mineralization at Niobe Prospect; Shares Fall 7%

MT Newswires Live

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RareX (ASX:REE) discovered a broad zone of anomalous copper mineralization at the Niobe prospect in Western Australia, with indicative portable X-ray fluorescence (pXRF) readings defining copper enrichment over about 74 meters from 77 meters to 151 meters downhole, according to a Monday Australian bourse filing.

The company said indicative pXRF readings returned a peak of 5,724 parts per million copper, with numerous intervals exceeding 1,500 parts per million copper and elevated readings sustained across much of the zone.

The company's shares fell 7% in recent Monday trade.

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