Mount Ridley Mines (ASX:MRD) announced a milestone at its wholly owned Mt Ridley Project, revealing a substantial maiden inferred mineral resource estimate that establishes the site as a premier destination for high-value critical minerals.
Located 25km northeast of Esperance, the project has yielded an estimated 122.56 million tonnes at 889 ppm TREO, containing over 108,000 tonnes of rare earth oxide metal.
What distinguishes this discovery is its remarkable 41% heavy rare earth oxide ratio, a figure that places it among the most enriched regolith-hosted systems globally.
The resource is particularly rich in Dysprosium (Dy₂O₃) and Terbium (Tb₄O₇), with 4,272 tonnes and 719 tonnes contained respectively.
The elements are vital for the production of high-performance permanent magnets used in electric vehicles, wind turbines, and advanced defence technologies.
The deposit is divided into two primary sectors: the Northern Zone, which holds the bulk of the resource at 87.18Mt, and the Central Zone.
Beyond rare earths, the mineralisation occurs within the same regolith system hosting the company’s existing scandium and gallium resources, suggesting a large-scale, multi-element critical mineral hub.
Preliminary metallurgical testwork has been encouraging, showing that heavy REEs exhibit a stronger leach response than light REEs.
At the time of reporting, Mount Ridley Mines' share price was $0.031.