Lions Bay Capital (TSXV: LBI) has confirmed that rare earth element (REE) enriched clays are located within the Savic area on EL6968.

The objective of this drill program was to evaluate the presence of REE enriched clays overlying the Gambier Limestone which is located adjacent to REE enriched clays within Australian Rare Earths (AR3.ASX) Koppamurra Project. This has now been confirmed.

The exciting discovery, made at their most recent drilling program in September, consisted of an 18-hole air core drill, gathering a total of 129 samples.

To date, five samples have been released, all confirming that REE extends into the Savic area, with an additional 124 samples currently being processed by the lab.

In the initial samples, the best results included two one metre interval samples (PD0216 and PD0705) with Total Rare Earth Oxide (TREO) values of 982.58ppm and 1190.80ppm (inclusive of Y203), showing encouraging results.

The full results from the drill program will be released in the next few weeks, which will assist the company to prepare for a detailed drill program in time for the new year.

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