Step-out auger and RC drilling at Cupim South has uncovered its highest-grade zone to date
Diamond drilling has also uncovered the best grades to date at the Caminho Das Pedras mining licence
Over 110 drill assays are still pending with aggressive exploration ongoing
Special Report: Viridis Mining and Minerals continues to accelerate its flagship Colossus ionic adsorption clay REE project in Brazil towards a globally significant resource after it received the fifth batch of drill assays.
According to the company, auger drilling returned “outstanding”, widespread mineralisation across three concessions, resulting in high-grade assays, while the step-out auger drilling to the east of Cupim South discovered an even higher graded zone than previously known.
This zone is adjacent to Viridis Mining and Minerals’ (ASX:VMM) recently acquired southern complex expansions, following the executed agreement with São Domingos Minerdom.
Stand-out auger hits
A stand-out hit of 5m @ 15,580ppm total rare earth oxide (TREO) within a broader section of 10m @ 11,850ppm TREO from 3m was returned, with peak grades reaching 24,894ppm TREO.
These intersections all ended in mineralisation and include:
11m @ 5,170ppm TREO;
11m @ 3,962ppm TREO;
16m @ 3,791ppm TREO; and
18m @ 3,591ppm TREO.
Results to be included in resource model
Meanwhile, infill diamond drilling and RC drilling continue to return homogenous high-grade REEs within heavily weathered clays at Cupim South and the Northern Concessions.
These include:
26m @ 2,716ppm TREO from 8m, including 11m @ 4,306ppm TREO;
14.5m @ 3,370ppm TREO from 3.5m, including 8m @ 4,056ppm TREO;
21m @ 3,009ppm TREO from 5m, including 14m @ 3,609ppm TREO; and
28m @ 2,371ppm TREO from surface.
Diamond drilling also uncovered the best grades to date at the Caminho Das Pedras mining license, including the highest TREO grade reported for an individual sample at Colossus to date of 21m @ 5,210ppm TREO from 3m.
VMM says these results continue to show the immense potential of its mining licence as the company transitions to the deeper drilling program.
It is anticipated these latest assays will be incorporated into the maiden resource model.
Shifting gears to deeper drilling
“These results continue to showcase the incredible potential at Cupim South, returning some of the highest grades within the complex,” VMM chief executive Rafael Moreno says.
“Viridis will move its focus to follow up drilling below its highest graded auger holes to make potential fresh discoveries of high-grade REE zones.
“Our team is also completing our 50m by 50m grid drilling around FZ-RC-029, which returned 5.5m @14,896ppm from 1m, the highest grades of dysprosium and terbium found near complex’s surface.”
Over 110 drill holes pending, fresh discoveries to come
Moreno says VMM continues to employ an aggressive exploration strategy to generate a potential world-class maiden resource.
“Our team in Brazil and Australia continues to work on all development pathway activities in parallel to our exploration strategy, allowing us to fast-track all our advanced prospects towards production as we continue making discoveries,” he says.
More than 110 drill holes are still pending assay results, with aggressive exploration ongoing at the project.
The current focus of exploration will now shift from infill drilling to predominantly following up and testing the full depths of auger holes which have ended in high-grade mineralisation.
In parallel, VMM remains on track with all project development activities, including metallurgy and resource definition work.
This article was developed in collaboration with Viridis Mining and Minerals, 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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