Ownership of John Galt Project secured by Northern Minerals, Western Australia

Rare Earth Deposits & Mining / Rare Earth Exploration, Mining, Processing, & Uses

Date posted: 06/24/15

Northern Minerals Limited advises ASX that it has secured 100% ownership of the John Galt Project in northern Western Australia. In 2010, following a successful due diligence process, Northern Minerals signed an agreement with the tenement holder, Arnhem Resources, for the right to acquire 100% of the Project within a four-year period. The Project, a strategic part of Northern Minerals asset base, has now been fully acquired following promising exploration results, and completion of a number of the commitments under the previously announced Agreement including a combination of cash payments and share distribution to Arnhem Resources. The Project is located about 28 km south of Warmun and 35 km from the Great Northern Highway, and covers an area of 65 sq. km within tenement E80/4298 in northern Western Australia. The Project is complementary to the existing Browns Range Project, containing a similar style of xenotime mineralization with a high proportion of heavy rare earths, in particular the valuable element dysprosium. Exploration is ongoing at the Project with recent exploration showing encouraging results. The results confirm the high grade nature of mineralization, with the average uncut grade of all 99 samples collected at the top of the ridge being 1.47% TREO. The average uncut grade of the 12 samples collected from the base of the ridge was 5.53% TREO. Of the 111 individual samples collected, 70 of them returned an assay above 0.15% TREO and with a HREO percentage of 97 to 99% - see Northern Minerals ASX announcement dated 30 April 2015, entitled Quarterly Activities Report March 2015 for full assay and sampling details. Although the area sampled is limited, approximately 25 m x 30 m at the top of the ridge, the results indicate a consistency of mineralization in outcrop. The results have further confirmed the potential for the John Galt Project to host high-grade HRE deposits and further work is warranted to determine its value.