ASX announcement — 23 September 2026
Mount Ridley Mines (ASX: MRD) says its Phase 2 re-assay program has identified scandium mineralisation beyond the recently expanded Block 1 and Block 2 Mineral Resource boundaries at Grass Patch in Western Australia. The company reports mineralised intersections as far as approximately 8km beyond current boundaries in some directions.
Selected intersections
The announcement highlights 22m at 119.41ppm Sc₂O₃ from 12m in MRAC1036 and 40m at 102.09ppm Sc₂O₃ from 18m in MRAC1040. It also reports 13m at 124.6ppm Sc₂O₃ from 16m in MRAC1052, and 19m at 113.38ppm Sc₂O₃ from 20m in MRDD034. These are selected drill intersections, not average grades for a new resource. Several highlighted holes ended in mineralisation.
The company compares the results with existing Block 1 and Block 2 resource grades of 77.3ppm and 74.7ppm Sc₂O₃, respectively. Scandium mineralisation overlaps parts of the broader rare earth and gallium system, but the reported extensions are not yet incorporated into a revised Mineral Resource Estimate. The existing Grass Patch Inferred scandium resource remains 946Mt at 50.1ppm scandium, containing 47,357 tonnes of scandium metal, according to the announcement.
Next steps and caveats
Mount Ridley plans to incorporate Phase 2 results into resource modelling and target a future update, with possible work toward higher resource confidence. A further 2,800 Phase 3 re-assay pulps were delivered to the laboratory on 21 September. Neither a resource increase nor an upgrade to the Indicated category is assured; additional modelling, drilling and evaluation are required.