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Mount Ridley Mines Limited (ASX:MRD)

ALERT: Price-sensitive ASX Announcement for MRD
Current share price for MRD : $0.025 0 (0%)+
Announcement
Release
11 Jun 2026 8:23AM
Price at Release
$0.025
Full Release
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Summary
Mount Ridley Mines Limited has completed Phase 1 of its Scandium Reassay Program at the Grass Patch Project, revealing exceptional scandium grades in areas previously untested. The results highlighted significant mineralisation outside the current resource zones, especially a new high-grade scandium zone 13km southwest of the existing Block 1 Resource. These findings, which are above the average grades stated in the Mineral Resource Estimate (MRE), suggest a larger scandium mineralised system than previously defined. Approximately 14,000 historical pulps are set for re-assay to further support potential resource growth. The mineralisation extends across an untested 13-kilometre corridor, providing an exciting target for future exploration. Scandium, recognised as a critical mineral, faces global supply challenges, enhancing the strategic importance of Mount Ridley's discoveries.
Key Points
  • Phase 1 of the Scandium Reassay Program at the Grass Patch Project is complete.
  • Significant scandium mineralisation was confirmed outside the established Block 1 and Block 2 estimates.
  • A cluster of holes at the southwestern margin returned grades exceeding current MRE averages.
  • A new high-grade scandium zone was identified approximately 13km southwest of Block 1 Resource.
  • Phase 1 results will be incorporated into the resource model immediately.
  • Approximately 14,000 additional historical pulps are available for re-assay to support resource growth.
  • The southwestern cluster is approximately 13km from the southern boundary of MRE Zone Block 1.
  • This corridor remains untested and is a high-priority target for future exploration.
  • The program leverages existing drill core and pulp material for new geochemical data.
  • Scandium is classified as a critical mineral under supply pressure.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.