Equinox Resources’ Mata de Corda REE project in Brazil increased by 15pc
Project landholding now almost 1000km2
Sample results from new tenure due next month and maiden drilling being planned
Special Report: Equinox Resources has expanded its landholding at the Mata da Corda rare earths (REE) project in Brazil.
Brazil’s REE output is currently just a fraction of its overall potential, shipping out just 80t of REEs in 2022 – a drop in the ocean compared to the 300,000t produced globally.
Yet its National Mining Agency says mineral research requests skyrocketed in 2022, up about 70% from 2021 to 155, most of them hunting for REE deposits in the Goias, Minas Gerais and Bahia States.
Assay results from surface clay and channel clay samples at Equinox Resources’ (ASX:EQN) Mata da Corda have already returned exceptionally high REE grades, with over 10km2 of the project area sampled returning >2000 ppm total rare earth oxides (TREO).
However, that’s nothing compared to samples of the newly expanded areas of the project.
Mata da Corda land increase
An additional 127.80 km2 has been staked adjacent to the Chumbo prospect, part of Mata da Corda, which recently returned exceptionally high surface sample concentrations of REEs, including:
● 5024ppm TREO (sample EQ-MC-095)
● 4454ppm TREO (sample EQ-MC-075)
● 3505ppm TREO (sample EQ-MC-073)
The move significantly enhances the exploration footprint along strike, says EQN, and positions the company well for continued exploration success.
Equinox’ Mata da Corda tenements and its latest expansion. Pic supplied: (EQN)
Groundwork continues at the project with further grab samples dispatched for lab analysis, with results expected in July.
The company says the samples will help define drill targets for the planned maiden drilling program.
This article was developed in collaboration with Equinox Resources, 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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