New Frontier Minerals (ASX:NFM) said rare earth distribution analysis of rock chip samples from the Cusp and Bobs prospects at the Harts Range heavy rare earth elements project in the Northern Territory highlighted its exploration potential, according to a Wednesday Australian bourse filing.
Analysis of the 25 rock chip samples collected highlighted up to 11.75% grade of dysprosium oxide and 1.87% grade of terbium oxide within the total rare earth element mix, the filing said.
The demand for rare earth elements continues to grow in light of their critical role in various industries, per the filing.
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