May 2, 2012 (Source: Peak Resources) —
Appointment of experienced Rare Earth Metallurgical Consultant – Gavin Beer
Mineralogy results support bastnaesite as the predominant rare earth host mineral in the deposit
Simple acid leach hydrometallurgical flow sheet remains the process route of choice
Peak Resources’ (ASX: PEK, ‘Peak’) 100% owned Ngualla Project in southern Tanzania is a large, high grade rare earth discovery with the maiden Mineral Resource announced on 29th February 2012. Ngualla ranks as the fifth largest rare earth deposit outside of China and the highest grade of the seven largest deposits. Rare earth mineralisation occurs as a thick blanket at surface and favourable bastnaesite mineralogy supports the potential for a relatively simple processing route.