Transformative Rare Earth Element Discoveries by Heavy Rare Earths Ltd

High-Grade Uranium-Scandium-Rare Earth Discoveries Set to Redefine Radium Hill's Potential

Heavy Rare Earths Limited (ASX: HRE) has reported exceptional new assay results from its Radium Hill project in eastern South Australia, confirming widespread high-grade mineralisation that extends well beyond the historic mine site. The discoveries by Heavy Rare Earths Ltd show significant potential for multi-element resources in an area with established mining history.

Impressive Triple-Element Assays Showcase Project's Unique Potential

The latest reconnaissance rock sampling program has delivered outstanding results, with samples containing:

• Uranium values up to 9,068 ppm (20 lb/t) U₃O₈
• Scandium grades up to 936 ppm Sc₂O₃
• Rare earth concentrations reaching 18,899 ppm (1.89%) TREO

These new findings build on earlier reported high-grade rock assays that reached 16,273 ppm (35.9 lb/t) U₃O₈, 1,081 ppm Sc₂O₃ and an impressive 36,371 ppm (3.6%) TREO.

The drill core from hole 319 at the Intermediate prospect, drilled in 1961 but never previously sampled, showed a remarkable mineralised interval of:

0.8 m @ 0.74% (16.4 lb/t) U₃O₂, 306 ppm Sc₂O₃, 1.15% TREO from 167.1 m

This multi-element profile represents a unique opportunity – while Radium Hill operated as Australia's first major uranium mine from 1954-1961 (producing 2.6 million pounds of uranium), the scandium and rare earth potential was never systematically evaluated despite being known since the early 20th century.

"The discoveries by Heavy Rare Earths Ltd at Radium Hill represent a potentially significant resource opportunity that combines three critical minerals in a single geological setting. This could create substantial value for both the company and Australia's critical minerals strategy," notes the exploration director.

Scandium: The Critical Metal with Expanding Applications

One of the most significant aspects of the Radium Hill project is its exceptional scandium grades. Similar to historic drill samples at Sunrise Energy, the results compare favourably with Australia's leading scandium resources:

What is Scandium and Why Does it Matter?

Scandium is a silvery-white metallic element classified as a rare earth, though it's actually more abundant in the Earth's crust than many people realise. What makes scandium rare is not its overall abundance, but rather the scarcity of concentrated, economically viable deposits.

The element has several key applications:

• Aerospace Applications: When alloyed with aluminium, scandium creates materials that are stronger, more corrosion-resistant, and more heat-tolerant than traditional aluminium alloys. These properties make scandium-aluminium alloys highly valuable for aerospace components.

• Transportation: The lightweight, high-strength properties of scandium alloys make them increasingly important for fuel-efficient vehicles and high-performance applications.

• Solid Oxide Fuel Cells: Scandium is used as an electrolyte material in solid oxide fuel cells, improving their efficiency and operational temperature range.

• Sports Equipment: High-end sports equipment such as bicycle frames, baseball bats, and lacrosse sticks may incorporate scandium alloys for their strength-to-weight advantages.

The emerging opportunity at Radium Hill is particularly significant given China's recent export restrictions on this strategically important element, which has heightened interest in securing alternative supply sources. In Finland, Prospech's drilling has confirmed high-grade rare earth elements with critical heavy metals, further highlighting global interest in these resources.

Mineralogy Suggests Expanded Exploration Potential

Petrographic studies commissioned by HRE indicate a potentially significant finding – scandium and rare earths may not be confined to uranium-rich zones. As stated in their report: "Scandium was observed in numerous minerals but was predominantly located in U-bearing, Cr-V enriched Ti-Fe oxide. This oxide is an alteration product of davidite."

Sample RHR009 from Bonython North (4.3 km northeast of the historic mine) contained 890 ppm Sc₂O₃ despite having only 196 ppm U₃O₈, suggesting separate mineral hosts and potentially expanding the exploration footprint substantially.

"The discoveries by Heavy Rare Earths Ltd have identified scandium mineralisation extending well beyond the historic uranium mining area. This significantly expands the prospective area for future exploration and potential resource development," states the technical report.

New Airborne Survey Reveals Extension Targets

A recently completed detailed airborne magnetic-radiometric survey has delivered substantially improved resolution compared to previous work. Similar to how Inca Minerals nears Stunalara acquisition with strategic control, HRE's survey identified:

• Complex folding and shearing within the Willyama Supergroup basement rocks
• Several zones of elevated uranium along the northeast trending corridor
• Previously undocumented radiometric anomalies, including a 2km-long zone north and northeast of Bonython Hill

This data, combined with field mapping and comprehensive analysis of historic mining records, is forming the foundation for HRE's drill targeting program planned for the second half of 2025.

Understanding Uranium-Scandium-Rare Earth Deposits

Radium Hill represents a distinctive style of uranium-scandium-rare earth mineralisation. The deposit occurs in fracture or shear planes within gneisses and schists, with mineralogy controlled by a complex sequence of geological events.

The mineralisation follows a five-stage sequence:

1. Initial replacement of sericitic shear rock by quartz-biotite-hematite-ilmenite
2. Intrusion of rare earth pegmatites containing orthite and xenotime
3. Movement along shears causing brecciation of earlier bodies
4. Intrusion of 'new amphibolites' along faults
5. Introduction of quartz stringers containing davidite and replacement by bright red feldspar

HRE's updated understanding suggests an additional event that may have altered davidite, potentially remobilising uranium, scandium and rare earths – a key insight that could significantly impact future exploration success. This approach mirrors strategies seen in early gold production opportunities where understanding mineralisation is crucial for resource development.

What Makes Radium Hill Mineralisation Unique?

Radium Hill's mineralisation differs from many other uranium or rare earth deposits due to its distinctive geological setting and mineral assemblage. The minerals present include davidite, a complex titanium-iron oxide that contains uranium, rare earths, and crucially, scandium.

The primary value driver for the discoveries by Heavy Rare Earths Ltd is the combination of three critical minerals in a single geological setting, potentially allowing for more efficient extraction and processing compared to developing separate deposits for each element.

Why Investors Should Track Heavy Rare Earths Limited

Heavy Rare Earths Limited offers investors exposure to a compelling multi-element exploration story with several key advantages:

1. Proven High-Grade Mineralisation: Rock sampling consistently shows exceptional grades across all three target elements.

2. Strategic Metal Focus: The project contains uranium (energy transition), scandium (critical for advanced manufacturing), and rare earths (essential for green technologies) – all designated critical minerals.

3. Historical Mining Infrastructure: The project area includes and surrounds a former producing mine with established access.

4. Modern Exploration Approach: Current work represents the first systematic evaluation of the project area since the 1960s, using modern exploration techniques to identify extensions.

5. Near-Term Catalysts: With field work already underway to follow up radiometric anomalies and drill targeting in progress, investors can anticipate regular news flow ahead of planned drilling in H2 2025.

The triple-element opportunity at Radium Hill positions Heavy Rare Earths as a distinctive player in the critical minerals sector, with the potential to develop a resource with significant strategic importance to Australia's critical minerals strategy. This positioning is reminiscent of Helios Resources' Gold Basin Arizona joint venture, which similarly leverages strategic resource potential in a favorable jurisdiction.

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