Strategic Land Position Secured in Stromberg Heavy Rare Earth (HREE) District
- Effectively secures TUC's land holdings over what it considers all the major HREE indicative geophysical anomalies in the district;
- Significantly increases TUC's land holding in the Stromberg HREE District from 2,250km2 to nearly 3,000km2;
- Builds on TUC's recently announced land access breakthrough in the Stromberg HREE District.
The ELA28448 tenement is of interest to TUC geologists due to its large radiometric anomaly (Figure 1, see link below). This anomaly is interpreted to have a similar geological setting to the nearby TUC Stromberg and Scaramanga HREE prospects and may be a repetition of the same HREE mineralised system. Recent drilling at Stromberg and Scaramanga has returned significant near surface HREE intersections including 5m @ 0.43% TREO* (81.9% HREO/TREO) from 6m (See TUC ASX Announcement dated 19 September 2012 for an update on progress at Stromberg and Scaramanga).
The acquisition, from Fisher Resources Pty Ltd, is by way of straight forward Tenement swap for TUC Resources Limited's ELA24976 tenement. ELA 24976 is located in the Tennant Creek area approximately 1000km south of the Stromberg area. The tenement is considered by TUC to be prospective for phosphate and is not considered to be part of TUC's focus moving forward.
View the complete TUC Resources announcement including Figures at the link below:
About Spectrum Metals Ltd
Spectrum Metals Limited (ASX:SPX) is a domestic West Australian focused gold exploration and development company, concentrating on high-grade, brown fields assets, that can leverage off existing infrastructure and add value through exploration and development. Spectrum has recently discovered Penny North, one of the highest grade gold discoveries in Australia in recent times. The discovery has grown rapidly and Spectrum has yet to explore approximately 4.5km of prospective strike to find similar high grade lodes.
Spectrum Metals Ltd