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Pure Resources Limited (ASX:PR1)

ALERT: Price-sensitive ASX Announcement for PR1
Current share price for PR1 : $0.320 -0.02 (-5.88%)+
Announcement
Release
21 Jul 2026 9:27AM
Price at Release
$0.340
Full Release
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Summary
Pure Resources Limited has announced significant progress in their partnership with Oak Ridge National Laboratory (ORNL). The collaboration has successfully recovered rare earth elements (REE), including heavy rare earth elements (HREE), from garnet sourced from the Garnet Hills Project. This achievement represents a proof-of-concept milestone under Strategic Partnership Project No. NFE-25-10985. The recovery process, subject to a potential patent, remains confidential. The next phase will focus on quantifying and optimizing the recovery of REE, which aligns with global efforts to secure supply chains for critical materials used in technologies like permanent magnets and defense systems. The project has strategic importance as it could provide a new source of these vital materials.
Key Points
  • Oak Ridge National Laboratory successfully recovers rare earth elements from Garnet Hills garnet.
  • Heavy rare earth elements included in the recovery confirm potential valuable resource.
  • Recovery method is proprietary and confidential, with a potential patent filing underway.
  • Current results are at a proof-of-concept stage; next steps include quantifying and optimizing recovery.
  • The project supports global supply chain security for critical technologies.
  • Pure Resources' Garnet Hills Project is strategically important for rare earth material sourcing.
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.