Special Report: Following a highly successful capital raising ahead of its ASX listing, Resouro Strategic Metals has announced impressive new results for high-grade rare earth elements and titanium oxide from its expansive Tiros project.
The ongoing infill and scout hole drilling aims to establish a JORC-compliant resource at Resouro’s flagship project in Brazil. Latest findings underscore the ore body’s consistently high quality and shallow depth, highlighting its significant potential.
Some of the standout results are 13 meters at 5,512ppm Total Rare Earth Oxides (TREO) including 1,158ppm high-value magnet metals Neodymium and Praseodymium (NdPr) and 16.73% titanium oxide (TiO2) from only 19 meters.
Another highlight, also from diamond drilling, was an intercept of 20 meters at 6,789ppm TREO with 1,570ppm NdPr and 16.11% TiO2 from 44 meters.
Consistent picture emerging
These infill results back other recent batches of high-grade rare earths and TiO2 results from Tiros, including world-class assays from step-out drilling beyond the Central Block where the company is doing its resource definition work.
The exploration team’s aim is to confirm, where possible, likely resource boundaries, average grades and mineralization thicknesses at the 450km2 project, as it continues to demonstrate potential to become an industry-leading mine.
“Following on from previously reported high levels of TREO, NdPr and TiO2 grades, these results from the Tiros Central block are very exciting,” Resouro president Chris Eager said of the recent results.
“The excellent assays indicate a relatively homogenous ore body of shallow and high-grade TREO and TiO2 figures.
“Recommencing the drilling program after reviewing the recent data has allowed us to plan better for the present drilling and enable the project to progress its geological resource model with the aim of achieving a Maiden JORC Resource for Tiros Central.
“The drilling also further confirms the high grade and massive size potential of the Tiros project as a whole.”
Ready for listing day
Resouro’s public offer for a targeted $8 million opened on 9 May, with shares priced at $0.50 each, and has been well supported. The expected listing date is on or around Friday, 14 June, with the company to have an estimated $46.1 million market capitalisation.
Resouro hopes to follow the trajectory of other Australian Brazil-focused critical minerals plays such as Meteoric Resources (ASX:MEI), Viridis Mining and Minerals (ASX:VMM) and the Gina Rinehart-backed Brazilian Rare Earths (ASX:BRE).
On the TSXV in Canada, where Resouro is already listed, its shares have almost tripled in the past 12 months.
Titanium bonus
Setting Resouro apart is the consistency of the project, which makes the ore much easier to process, the company says. But on top of that. there is also some handy high-grade titanium oxide.
Currently the main uses for TiO2 are white elements in paints and paper and plastics, however there is an emerging but significant market for titanium in aerospace, automotive manufacturing and lithium batteries.
This article was developed in collaboration with Resouro Strategic Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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