RARE EARTH ELEMENTS (REE) DEFENCE MINERALS

RADIOMETRICS AND PALMERVILLE

Radiometric data acquired over the Palmerville Project highlights several discrete Thorium (Th) and Uranium (U) anomalies, expressed as green to aqua responses on the ternary (K–Th–U) imagery. Elevated Th is considered a robust geochemical and geophysical pathfinder for Rare Earth Element (REE) mineralisation, as REEs commonly occur within Th-bearing accessory minerals such as monazite, allanite, xenotime and bastnäsite.

The coincidence of Th–U anomalism with mapped granitoid intrusives, structural corridors and areas of known alluvial/heavy mineral concentration suggests a favourable geological setting for both primary (hard-rock) and secondary (placer/alluvial) REE accumulations. Uranium responses, while more susceptible to post-depositional mobility, may further indicate hydrothermal alteration zones and/or radiogenic felsic source rocks with REE fertility.

The radiometric signatures identified in the survey therefore delineate first-order REE exploration targets warranting systematic field investigation, including:

• Ground truthing and geological mapping of radiometric highs

• Stream-sediment and soil sampling for REE pathfinder elements (Th, U, P, Ce, La, Nd, Pr, Dy)

• Heavy mineral concentrate sampling for monazite and xenotime confirmation

• Follow-up geochemistry and petrological assessment of radiogenic intrusives

These anomalies, in conjunction with structural interpretation and known mineral occurrences, support the exploration rationale for REE-enriched intrusive-related systems and monazite-rich heavy mineral placer deposits within the Palmerville tenure.

Rare Earth Elements (REEs)

Extensive assays have confirmed the presence of all 12 China-restricted Rare Earth Elements, including:
Scandium (Sc), Yttrium (Y), Samarium (Sm), Europium (Eu), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy), Holmium (Ho), Erbium (Er), Thulium (Tm), Ytterbium (Yb), and Lutetium (Lu).

In addition, high-priority defence REEs such as Neodymium (Nd) and Praseodymium (Pr)—critical for F-35 fighter jets, missile guidance systems, and high-strength permanent magnets—have also been recorded.

The Palmerville EPM package sits within a broader Northern Queensland rare earths province, in close proximity to the Ark Mines Ltd (ASX:ARK) Sandy Mitchell Rare Earths Project, one of Australia’s most material placer-style rare earth deposits. Located on Mount Mulgrave Station and hosted in extensive mineral sands, the Sandy Mitchell project contains a significant mix of both light and heavy rare earth elements—including high-value magnet REEs such as neodymium, praseodymium, dysprosium and terbium—elements that are critical inputs for electric vehicles, wind turbines, advanced electronics and defence technologies and that have seen strong investor interest and strategic government funding support. Mount Mulgrave is interpreted as a source terrain shedding REE-enriched heavy mineral sands into proximal drainage systems, reinforcing the regional geological framework and supporting the potential for rare earth mineralisation across the broader landscape, including within the Palmerville EPM package.

 The aqua and green radiometric signatures on the ternary imagery highlight elevated Thorium (Th) and Uranium (U) responses. Thorium is a key pathfinder for Rare Earth Element (REE) mineralisation, as REEs commonly occur within monazite and other Th-bearing minerals. These radiometric anomalies therefore represent priority target zones for REE exploration across the Palmerville tenements.