Peak Resources Limited (ASX:PEK) announced several high rare earth mineralization results at the Ngualla Rare Earth Project in Tanzania. The Project is the fifth largest in the world outside of China, and the company is looking to maintain the long term, potentially low cost rare earth project.
As quoted in the press release:
The drilling has intersected the predicted, deeply weathered carbonatite, which is typically enriched in rare earths in the 3 to 8% REO* range. Drill intersections confirm the continuity of significant areas of high grade, weathered rare earth mineralisation from surface that may be amendable to sulphuric acid leach processing.