Piche Resources detects mineralisation at Ashburton Project

• Piche Resources identified extensive high-grade rare earth mineralisation at its Ashburton Project following a strategic review.
• The announcement left the company's stock price unchanged at $0.02.
• The project demonstrates multi-commodity potential for both uranium and rare earth elements to support the global energy transition.

Piche Resources (ASX:PR2) announced that a strategic review of historical exploration at its Ashburton Project identified high-grade rare earth mineralisation returning up to 11.38% total rare earth oxides.

The newly identified mineralisation over a 30km strike expands the asset's footprint compared to historical exploration that focused primarily on uranium.

The rare earth assemblage is dominated by high-value magnet elements, with middle rare earth elements comprising 59% and heavy rare earth elements making up 7% of the total content.

The company noted that previous drilling at the project area also confirmed uranium potential with assays reaching up to 16,050 parts per million.

Following the announcement, the Piche Resources share price was unchanged at $0.02.

The Perth-headquartered mineral exploration company focuses on exploring uranium and precious metals across Western Australia and Argentina.

The business holds multiple projects, including Gascoyne-Minindi, Abydos, and Beasley Creek, alongside its Ashburton asset.