Mount Ridley Mines Says Reassaying Confirms, Extends Scandium Mineralization at Western Australia Project; Shares Up Over 4%

MT Newswires Live10:46

Mount Ridley Mines (ASX:MRD) said its phase two reassay program confirmed and extended scandium mineralization beyond the Block 1 and Block 2 mineral resource boundaries at the Grass Patch project in Western Australia, according to a Wednesday Australian bourse filing.

The firm reported assays of 22 meters at 119.41 ppm Sc2O3 from 12 meters as well as 13 meters at 124.6 ppm Sc2O3 from 16 meters.

The newly defined scandium mineralization extends up to eight kilometers beyond the current Block 1 and Block 2 mineral resource boundaries in multiple directions, showing it captures only part of a larger scandium system, per the filing.

The company's shares rose over 4% in recent trading on Wednesday.

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