Resouro Strategic Metals releases more very high grade rare earths and titanium dioxide results from surface at its Tiros project in Brazil
High level of confidence to move ahead with more technical studies, with the next steps being to estimate a JORC Compliant Resource Exploration Target
The results come as the company prepares for its run at the ASX next month, joining other highly successful Brazilian rare earths plays on the local market.
Special Report: As it gets ready for its ASX debut, Resouro Strategic Metals has announced more world-class grades from the large-scale Tiros clay rare earths and titanium oxide project in Brazil.
The latest drilling results for Resouro back up a batch of other significant results from surface released last month, indicating the 477km2 project could become an industry-leading, multi-generational mine.
Among the high-grade highlights from the most recent batch of assays are thick intercepts such as 40m at 4,343ppm total rare earth oxides (TREO), which includes 1,000 high-value magnet rare earths neodymium and praseodymium (NdPr) and 11.46% titanium oxide (TiO2) from only 10m. A 6m intercept contained a whopping 10,028ppm TREO with 2,413 NdPr and 23.03% TiO2 from 15.4m.
Resouro is now looking forward to more results which will be released from the lab over the next three months.
CEO and president of Resouro, Chris Eager, said: “The remarkable thing about Tiros is the consistency and continuity of high total rare earth oxide (TREO) grades and very high NdPr grades strongly correlated with extremely high titanium oxide (TiO2) grades.
“These recently received assay results highlight that Tiros is one of the world’s highest grade clay rare earth deposits and highest grade TiO2 deposits in non-conglomerated (readily available clay) materials.
“The orebody is unconstrained in every direction including depth and, combined with our recently approved northern and southern tenements, these results highlight the potential of the scale that Tiros could potentially provide rare earths and Tio2 for decades to come.”
Another plus for Tiros is its close proximity to infrastructure and a skilled mining workforce in Brazil’s powerhouse mining state of Minas Gerais.
On road to Maiden JORC
Given the consistently thick intercepts at very high grades of rare earths and Tio2, Resouro will now move ahead with confidence to more technical studies of the central tenements, which make up only 9% of the large-scale project.
The next step is to estimate a JORC Compliant Resource Exploration Target then incorporate all the assays from samples still pending to produce a Maiden JORC Resource for the central area.
This information, along with the metallurgical test-work results when they are ready, will be used to build a comprehensive geo-metallurgical model of the deposit.
More exploration plans
While the orebody within the central tenements remains open in all directions, Resouro has also won approval for the Northern and Southern exploration tenements, which both indicate similar potential to the Tiros Central Block.
The exploration team is now planning for exploration of these tenements and the work is likely to start after Resouro gets the pending results back from the central tenements.
The Tiros Project with the recently completed exploration area in yellow and the recently approved and existing tenements to the north and south being scheduled for exploration. Pic: Resouro Strategic Metals
Met test ticks
Resouro has additionally started taking the next steps towards the important Metallurgical Testwork Program to develop a flowsheet that produces the best recoveries and overall project net present value (NPV).
To this end Resouro has started engaging a number of leading laboratory and subject matter experts to undertake conventional ionic clay extraction and non-conventional tests that have shown potential for much greater recoveries.
Previously announced preliminary works have indicated a positive financial outcome for Tiros, which are compounded by its world-leading grades.
Brazilian projects’ big appeal
Toronto listed Resouro is set to list on the ASX next month, hoping to capitalise on the huge investor appetite for Brazilian rare earths plays, including Meteoric Resources (ASX:MEI) and Gina Rinehart backed Brazilian Rare Earths (ASX:BRE).
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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