Core Process Engineering continues to support GBM Resources with flowsheet development and metallurgical testwork for its Milo Project. View the announcement here or read the summary below:

Milo Project Expands Rare Earth Resource and Advances Metallurgical Testwork

Significant Resource Growth at Milo IOCG Project

GBM Resources Limited (ASX: GBZ) has announced a major upgrade to the rare earth element and yttrium (REEY) resource at its Milo Iron Oxide Copper Gold (IOCG) project in North West Queensland. The inferred resource has increased to 187 million tonnes, containing 113,000 tonnes of Total Rare Earth Oxide (TREO) at an average grade of 600 parts per million (ppm). This expansion highlights Milo’s potential as a substantial future source of rare earth elements, critical for industries such as renewable energy, electric vehicles, and high-tech manufacturing.

Drilling Confirms Strong Mineralisation

Recent drilling has extended the mineralised zone to over one kilometre in length and up to 200 metres in width, with the resource remaining open in multiple directions. Notable intersections include:

• 70 metres at 0.8% copper equivalent (CuEq), with 18 metres averaging 1.3% CuEq (Hole MIL017)
• 51 metres averaging 0.8% CuEq (Hole MIL018)

These results indicate a robust and continuous mineral system, reinforcing Milo’s potential for large-scale development.

Critical and Heavy Rare Earth Elements

More than 23% of the TREO resource comprises elements expected to be in undersupply in the medium to long term, including neodymium, yttrium, dysprosium, and lanthanum. Additionally, heavy rare earth elements (HREE) make up 12% of the total rare earth resource, further enhancing the project’s strategic importance.

Metallurgical Testwork and Beneficiation

Preliminary metallurgical testwork has shown significant potential for beneficiation using conventional processing technologies. Core Process Engineering Pty Ltd has contributed to this work, focusing on refining recovery processes and optimising efficiency.

Initial test results indicate that heavy medium separation and Wet High Intensity Magnetic Separation (WHIMS) could provide effective ore upgrading. WHIMS testing has demonstrated up to 80% recovery of TREO into concentrate, suggesting a viable pathway for enhancing ore processing while reducing overall costs.

Ongoing and Future Developments

GBM Resources is currently conducting preliminary pit optimisation studies alongside continued metallurgical testwork. The company is also assessing the potential for defining a maiden copper equivalent resource, which could significantly enhance Milo’s overall economic outlook. These efforts will feed into an ongoing scoping study aimed at refining key project parameters and confirming development pathways.

Conclusion

With a significant expansion in its rare earth resource, promising metallurgical testwork results, and the involvement of experienced process engineering specialists, the Milo Project is emerging as a potential major supplier of critical and heavy rare earth elements. As global demand for these materials grows, Milo could play an important role in supporting high-tech and clean energy industries.