‘Exceptional’ rare earth grades at Caldas
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2024-10-25
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source:Australian Resources & Investment
Axel REE has intersected “exceptional concentrations” of rare earth elements as part of an auger drilling campaign at its Caldas project, part of the Poços de Caldas Alkaline Complex in Minas Gerais, Brazil.Results from drill hole CAL-AUG-001 returned 11m at 3273 parts per million (ppm) total rare earth oxide (TREO), including 1m at 7099ppm TREO and 3m at 5609ppm TREO, ending in high-grade mineralisation and indicating potential depth continuity.Other impressive results included CAL-AUG-003, which reported 20m at 3082ppm TREO, including 1m at 6536ppm TREO.“We are extremely pleased with our initial auger drill assay results showing high-grade TREO from our Caldas project within the Poços de Caldas Alkaline Complex,” Axel managing director Fernando Tallarico said.“This first batch demonstrates the significant surface mineralisation of our project area and underscores the discovery potential of the project area.”One of the key findings is the significant concentration of high-value magnet rare earth oxides (MREO), which accounted for up to 36 per cent of the TREO in some samples, highlighting the potential of the project to feed renewable energy technologies.“The most exciting aspect of these initial results is that all holes returned increasingly high-grade TREO mineralisation at end of hole, which, similar to that of our peers at the Poços de Caldas, demonstrates the significant potential for a discovery zone at depth,” Tallarico said.“In addition, this is just the first batch as we expect to progressively receive auger results from our Caldas project as well as diamond drill results at our Caladão project in the Lithium Valley.”At the Caladão project, Axel has completed 77 drill holes with additional samples sent for analysis.Subscribe to Australian Resources & Investment and receive the latest news on commodity prices, resource developments, executive movements and more.
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