announced positive drill results from its Richmond Hill project in South Dakota's Homestake district, according to a January 31 research note from Agentis Capital analysts Michael Gray and Jake Savage.
The eight holes contained high-grade rare earth element (REE) mineralization, highlighting the potential of the project.
Multiple intercepts yielded total rare earth oxide (TREO) grades above 3%, composed of approximately 12% neodymium and praseodymium (NdPr). These are critical elements used in permanent magnets. Significant intervals included:
- 35.7 meters grading 3.5% TREO, including 1.5 meters at 12.9% TREO (1.4% NdPr)
- 30.2 meters grading 3.4% TREO
- 23.2 meters grading 2.7% TREO, including 13.6 meters at 3.8% TREO
The REE mineralization covers a broad area, spanning over 300 meters by 300 meters down to 300 meters depth. The mineralization may be related to the remobilization of REEs from an intrusive source into breccia pipes. Dakota Gold's Richmond Hill sits just 45 kilometers from Rare Element Resources' Bear Lodge project, which is partly owned by military drone supplier General Atomics.
The analysts highlight the strategic value of domestic REE discoveries, given the critical use of these elements in defense applications.
"We think this discovery at Richmond Hill could help DC advance the asset with respect to permitting and potential non-dilutive government funding opportunities," the analysts wrote.
The report pointed out two key catalysts for Dakota Gold being, the ongoing drilling of Maitland and Richmon Hill Targets and the Richmond Hill resource estimate due in the first quarter of this year.
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- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dakota Gold Corp.
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Disclosures for Agentia Capital, Dakota Gold Corp., January 31, 2024
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