Three new target areas defined from geological analysis work at Equinox Resources’ Campo Grande
Drilling to kick off at the Jaguaquara and Jitauna prospects
EQN is well funded for drilling with a $5.3m cash position
Special Report: New geological data has identified additional drill targets ahead of another exploration campaign at Equinox Resources’ Campo Grande REE project in Brazil.
Equinox Resources’ (ASX:EQN) new Amargosa, Jitaúna and Jaguaquara target areas are geologically inserted in the Jequié Complex and Volta do Rio Plutonic Suite areas of Campo Grande, known for hosting high-grade hard rock REE mineralisation.
The project is essentially adjacent to, and has the largest land position around ASX market darling Brazilian Rare Earths’ (ASX:BRE) growing world-class 510Mt REE and critical minerals portfolio in the Rocha da Rocha REE district.
Interestingly, EQN’s new Jaguaquara block testing targets are just ~3km from BRE’s Sulista discovery, which returned assays showing 22.4% total rare earth oxide recently.
New suite of targets
Results from a continuing regional surface sampling campaign across Campo Grande showed mineralisation can occur from surface outcrops at the Amargosa, Jitaúna and Jaguaquara blocks and extend up to 75m deep, hosting REE, niobium, scandium and uranium cumulate.
Along with nearology to Sulista, the high priority targets are also located ~2km away from BRE’s Pele project that has returned high grade assays of up to 10.4% TREO.
Surface samples from the Jaguaquara target region is interpreted to be linked to a regional-scale linear structure extending over 15 km NW-SE, indicating high REE prospectivity.
This linear structure starts from the Rio Negro drill target and continues into the Jaguaquara block. Assays from recent drilling at Rio Negro are still pending.
EQN’s new target blocks at Campo Grande. Pic: EQN
“We’re in the very early stages of exploring our REE ground at the Campo Grande prospects, with only ~1% of our prospects currently drilled,” EQN MD Zac Komur says.
“By working through geochemical and geophysical data to pinpoint new additional drill targets, we have identified some high-priority areas for a drilling campaign aimed at delineating hard rock REE deposits.
“This process has focused our efforts on areas within the Amargosa, Jitaúna, and Jaguaquara blocks.
“We plan to deploy in depth drilling programs on these new drilling targets proximal to Brazilian Rare Earths’ discovery imminently.”
EQN is in the final stages of awarding drilling contracts for a larger scale drilling program targeting REE in hard rock across Campo Grande.
It recently completed a $4m capital raise and has a strong cash position of $5.3m, allowing for uninterrupted drilling campaigns across identified REE prospects.
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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