{"id":4516,"date":"2024-01-17T04:49:38","date_gmt":"2024-01-17T04:49:38","guid":{"rendered":"https:\/\/economicherald.net\/?p=4516"},"modified":"2024-01-17T04:49:38","modified_gmt":"2024-01-17T04:49:38","slug":"first-tick-in-the-box-for-australian-mines-in-brazil","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4516","title":{"rendered":"First tick in the box for Australian Mines in Brazil"},"content":{"rendered":"<p>Australian Mines continues to advance its new Brazilian-focused strategy<br \/>\nInitial work at the Resende lithium project confirms the potential to host same mineralisation as nearby Mibra mine<br \/>\nPreliminary exploration has begun at Jequie, right next door to the monster 510Mt deposit owned by the Gina Rinehart-backed Brazilian Rare Earths<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: Australian Mines has made a positive start to exploration at the Resende lithium project it is looking to acquire as part of its Brazilian-focused rebirth. <\/strong><\/p>\n<p>Located in the Tier 1 mining-friendly jurisdiction of Minas Gerais, Resende sits just 17km west of AMG Lithium\u2019s operating Mibra mine, which is revered for churning out 130,000t of lithium concentrate annually.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/australian-mines-auz\/\"><strong>Australian Mines (ASX: AUZ)<\/strong><\/a> announced early last month <a href=\"https:\/\/stockhead.com.au\/resources\/brazilian-carnival-beckons-for-the-reborn-australian-mines\/\">it was acquiring Resende and the Jequie niobium and rare earths project<\/a> in the state of Minas Gerais and Bahia respectively, and would also be changing its name to EcoMetal Resources to reflect \u00a0its growing exposure to battery metals.<\/p>\n<p>Jequie is immediately adjacent to the monster 510Mt Rocha de Rocha rare earths project which is the flagship asset of the newly listed, Gina Rinehart-backed <a href=\"https:\/\/stockhead.com.au\/company\/brazilian-rare-earths-bre\/\">Brazilian Rare Earths (ASX: BRE)<\/a>.<\/p>\n<p>\u00a0<\/p>\n<h2>Resende passes the first test<\/h2>\n<p>Initial exploration work at Resende has confirmed the presence of intrusive pegmatitic phases associated with the Ritapolis Pluton which hosts the mineralisation at the nearby Mibra mine.<\/p>\n<p>Airborne geophysics also showed the same corridor of deep-seated NW-SW trending regional controlling structures seen at Mibra, extending to, and traversing, the Resende concession package.<\/p>\n<p>\u00a0<\/p>\n<p>Evidence of pegmatitic activity with the Resende project area. Pic: Supplied (AUZ)<\/p>\n<p>\u00a0<\/p>\n<p>\u201cDespite the presence of an in-situ regolith cap, we are very pleased with these initial outcomes as it confirms our expectation of potential pegmatitic mineralisation,\u201d AUZ chief executive Andrew Nesbitt said.<\/p>\n<p>\u201cAs soon as we get the sampling results, we will be in a position to plan a cost-effective geochemical program to develop targets for follow-up trenching and drilling.\u201d<\/p>\n<p>The Resende project comprises eight mineral claims across a total aggregate land holding of ~133km2 and is hosted in the Sao Joao del Rey province which is characterised by numerous pegmatite bodies of varying mineralogical composition \u2013 primarily spodumene but also beryl, tantalite-columbite and monazite.<\/p>\n<p>Several historically mapped pegmatite and tantalum occurrences have been noted within the boundaries of the exploration licences but never properly tested for lithium.<\/p>\n<p>\u00a0<\/p>\n<h2>Now to test Jequie\u2019s potential<\/h2>\n<p>Preliminary exploration has kicked off at the Jequie project, including the all-important \u201cground truthing\u201d of numerous regional geophysical anomalies located within the licence areas.<\/p>\n<p>\u00a0<\/p>\n<p>The Jequie project is in the same region at key tenements held by BRE, including the 510Mt Rocha de Rocha rare earths deposit. Pic: Supplied (AUZ)<\/p>\n<p>\u00a0<\/p>\n<p>AUZ expects the project to benefit from the infrastructure developed in the region as a result of several established, large-scale mining operations in the vicinity. This includes a major deep-water port within 200km and the opportunity to access clean hydropower at site.<\/p>\n<p>Jequie is comprised of 45 mineral right claims covering a total aggregate land holding of 826km2, all hosted within a tectono-structural block of the northeastern Sao Francisco craton.<\/p>\n<p>The arrival and recently successful listing of BRE has resulted in a swathe of pegging activity in the Jequie area seeking their own exposure to Bahia state\u2019s niobium and rare earths potential.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Australian Mines, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/first-tick-in-the-box-for-australian-mines-in-brazil\/\">First tick in the box for Australian Mines in Brazil<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Australian Mines continues to advance its new Brazilian-focused strategy Initial work at the Resende lithium project confirms the potential to host same mineralisation as nearby <a href=\"https:\/\/economicherald.net\/?p=4516\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4517,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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