Highlights

• RareX reports first-pass exploration at Mt Mansbridge with 39 rock chips and 1,000+ soil samples revealing promising heavy rare earth oxide occurrences.
• Exploration targets Browns Range-style xenotime-hosted mineralisation with potential strategic significance for non-Chinese rare earth supply chains.
• Key investor watch points include:
  • Upcoming drilling
  • Metallurgy testing
  • Resource scale confirmation
  • Downstream processing pathways

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RareX (ASX: REE) reports (opens in a new tab) first-pass exploration at Mt Mansbridge (WA Kimberley) with multiple heavy rare earth oxide (HREO) occurrences from 39 rock chips and 1,000+ soils. Highlight assays include up to 1.7% TREO with ~10% Dy+Tb, altered sandstone to 0.7% TREO with ~13% Dy+Tb, and a standout 2.7% TREO at the Sigma prospect (very high HRE proportions reported). The target model references Browns Range–style, xenotime-hosted HRE mineralisation ~40 km away—geologically plausible and long noted in historic work.

Shine vs. Substance

The grades are real—but they’re rock chips and soils, not drill-defined widths or tonnage. Prior drilling by Red Mountain (2022) at Sigma yielded 16 m @ 0.28% TREO (incl. 1 m @ 1.06%), hinting at fertility but not yet proving scale. Until continuity, metallurgy, and economics are demonstrated via drilling, this remains an encouraging target, not a resource.

Sponsored Glow, Read the Fine Print

Much of the coverage is “Special Report”/sponsored trade media, which tends to emphasize upside and compress risk. Claims that Mt Mansbridge has the “right ingredients” for a hard-rock HRE deposit are reasonable, but forward-leaning; investors should demand follow-through: drill density, representativity of samples, impurity suite (e.g., U/Th), and recoveries from xenotime-bearing hosts.

Why It Matters to the Supply Chain

Dy/Tb are the choke points for high-temperature magnets. A non-Chinese, hard-rock HRE discovery would be strategically meaningful—especially if RareX can prove scale and deliver a processing route aligned with emerging non-Chinese midstream capacity. Until then, the bottleneck remains downstream: separation and magnet supply chains are still concentrated in China, so any discovery must be paired with credible refining/offtake pathways.

REEx Investor Watch-List

• Drilling next: When, where, and with what spacing to convert chips into intercepts?
• Metallurgy: Xenotime processing route, recoveries, and deleterious elements.
• Scale: From isolated veins to continuous bodies—what’s the footprint?
• Path to market: Who refinishes Dy/Tb ex-China, and on what timeline?

Citation: RareX ASX release, “High Grade Heavy Rare Earths Identified at Mt Mansbridge,” Sept. 10, 2025; StockHead, SmallCaps/ShareCafe/The Pick coverage of assay highlights and program scope.

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