MRD.ASX: Further Scandium Assays Extend Mineralisation

Further Scandium Assays Extend Mineralisation

Stock	Mount Ridley Mines Ltd (MRD.ASX)
Release Time	23 Jun 2026, 9:49 a.m.
Price Sensitive	Yes

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Mount Ridley Mines Announces Scandium Re-Assay Results

Key Points

Scandium mineralisation extends beyond current resource boundaries in all directions
High-grade intercepts identified, exceeding current resource average
Results support potential upgrade of the Block 1 Mineral Resource Estimate
Phase 2 of the re-assay program is being scoped
Scandium is a critical mineral with growing demand

Full Summary

Mount Ridley Mines Ltd. (ASX: MRD) announces significant scandium re-assay results from the Block 1 area, confirming and extending the mineralised footprint beyond the current resource boundaries in all directions. The re-assay of 481 historical aircore pulp samples has identified multiple high-grade intercepts, with several exceeding the current resource average of 91.8 ppm Sc2O3. Notable results include 22m at 134.09 ppm Sc2O3 and 20m at 119.02 ppm Sc2O3. These results support the potential for an upgrade of the Block 1 Mineral Resource Estimate. Phase 2 of the re-assay program is being scoped to cover the remaining unassayed historical pulps. Scandium, classified as a critical mineral, is in high demand, particularly for aerospace and semiconductor applications.

Outlook

The company anticipates incorporating Phase 1 results into the resource model, targeting an upgrade of the current JORC (2012) Inferred Mineral Resource at the Grass Patch Complex.