Peak Resources will soon release a revised JORC Resource for its Ngualla Rare Earth Project in Tanzania and has been granted a trading halt by the ASX.

Ngualla currently boasts the fifth largest rare earth resource, and the highest grade of the seven largest deposits outside of China. At present, the project hosts a resource of 170 million tonnes at 2.24% REO. The total resource includes a higher grade, near surface zone of 40 million tonnes at 4.07% REO for 1.6 million tonnes of contained REO.

The halt will last until the earlier of an announcement being made to the market or the opening of trade on April 4th 2013.