Northern Minerals (ASX:NTU) said five diamond drill holes, co-funded through Western Australia's exploration incentive scheme, were completed beneath the high-grade Dazzler deposit's heavy rare earth element mineral resource at its Browns Range heavy rare earths project in Western Australia, according to a Tuesday Australian bourse filing.
An improved litho-structural model developed from the drilling results provides increased geological confidence expected to support an update to the inferred mineral resource estimate, while providing geological context for exploration.
The firm's shares jumped 10% on market close.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.