Equinox Resources surface sampling returns >2000ppm TREO assays across 30km2 of its Mata da Corda project
Results highlight potential for project to host world-class IAC-hosted REE deposit
Drilling expected to begin in early Q3 2024
Special Report: Equinox Resources’ Mata da Corda project in Brazil looks to have the potential to host a world-class ionic adsorption clay-hosted rare earths deposit after surface sampling continued to return high-grade assays.
Initial results from the surface clay and channel sampling program by Equinox Resources (ASX:EQN) had already returned high REE grades of >2000 parts per million total rare earth oxides over just 10km2 of the project area.
Continued surface sampling has now returned >2000ppm TREO assays in clays at surface to over 30km2 of the project area, indicating Mata da Corda’s potential to host a world class, large scale and exceptionally high-grade IAC deposit.
The Mata da Corda project sits in the province of Patos de Minas within the prolific mining state of Minas Gerais and covers 974.98km2, following the recent staking of an additional 127.8km2 of tenure.
The company had originally selected its tenements based on the available mafic index and lateritic weathering index data.
Mata da Corda regional geological map with all total rare earth oxides surface sample results. Pic: Equinox Resources
More high-grade surface sampling assays
Some top assays from the new surface samples include 3274ppm TREO, 3254ppm TREO and 3242ppm TREO, typical of the high rare earths concentrations seen in Minas Gerais at projects like market darling Meteoric Resources’ (ASX:MEI) Caldeira site.
Notably, the results validated the drill targets within the Patos de Minas, Lagoa Formosa, and Chumbo prospects.
Adding further interest, the sampling also returned significant titanium dioxide anomalies of up to 18.9% that could represent a potential secondary product. Among other sectors like welding and defence, titanium dioxide boasts a large market in paint pigments.
“I am excited to share further advancements at our Mata da Corda project, where we continue to uncover high-grade rare earth clay mineralisation,” managing director Zac Komur said.
“Our surface sampling has also revealed anomalies in titanium, positioning us to add a valuable secondary product on top of our rare earth clay basket.
“The exploration team has done an exceptional job and the results have identified drill targets across three prospects. As we navigate through the necessary environmental approvals and land access requirements, we are preparing to commence drilling in early Q3 CY2024.”
EQN is also awaiting assays from auger and reverse circulation drilling at its Campo Grande project in the Rocha da Rocha REE district within Brazil’s Bahia state.
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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