Nov 19, 2024

Brazilian Critical Minerals Hits 10m @ 1,103ppm TREO at Ema Project, Brazil

Introduction:

Brazilian Critical Minerals Limited (ASX: BCM) (Market Cap: $9M | Last Close: $0.01 | Cash: $5.5M) has reported strong grades from infill drilling at its Ema Rare Earth Elements (REE) Project in the Apuí region of Brazil, highlighted by 10m @ 1,103ppm TREO from 10m.

Drill Results:

10m @ 1,103ppm TREO from 10m (ending in 1,817ppm TREO) [EMA-TR-236]
9.7m @ 1,081ppm TREO from 2m (ending in 1,398ppm TREO) [EMA-TR-229]
10m @ 1,086ppm TREO from 8m (ending in 1,765ppm TREO) [EMA-TR-258]
9.6m @ 1,149ppm TREO from 5m (ending in 837ppm TREO) [EMA-TR-245]‍
9.8m @ 1,107ppm TREO from 3m (ending in 771ppm TREO) [EMA-TR-238]

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Project Overview:

The Ema REE project covers 82 km2 in Brazil's Apuí region. It is characterized as an ionic adsorption clay (IAC) deposit, sharing similarities with REE deposits in southwest China. The project area contains an inferred mineral resource estimate of 1.02 billion tonnes.

Ema is considered unique among Brazilian REE projects due to its geological similarities to world-leading ionic clay deposits in China and Myanmar, which account for approximately 30% of global rare earth production in 2024.

Program Details:

The current program involves a 270-hole mineral resource infill drilling campaign, with 82 new holes reported in this release. Approximately 49% of all assays have now been returned. Drilling is conducted on a 400m x 400m grid spacing within a high-priority area comprising 24% of the previously announced inferred resource area. The program is designed to increase confidence in the mineral resource estimate and support an upcoming scoping study.

Understanding These Results:

Results show excellent grades and thicknesses with strongly elevated NdPr grades directly above the fresh bedrock contact. This supports the proposed in-situ recovery (ISR) mining approach. The proportion of valuable heavy rare earth elements (HREEs) increases to over 31% at the end of holes, highlighting the economic potential of lower saprolite zones.

The consistent enrichment of neodymium (Nd) and praseodymium (Pr) at similar depths within the lower saprolite zone, typically around 10 meters thick, suggests continuous high-grade zones across the project area. Total Rare Earth Oxide (TREO) grades increase with depth, ranging from approximately 500 ppm near the top of the enriched zone to up to 1,880 ppm at greater depths.

Management Commentary:

No direct management quotes were provided in the announcement.

Next Steps & Catalysts:

The infill drilling program is approximately 95% complete, with full completion expected by the end of November. Results will be included in an interim updated Mineral Resource Estimate (MRE) underpinning the scoping study. The company is also conducting ongoing metallurgical assessment and environmental baseline studies.

A scoping study is progressing well, with the final report scheduled for release in Q1 2025. The company plans to transition to a feasibility study in 2025, which will include pre-planning and in-situ field trials.

Commodity Outlook:

Rare earth elements, particularly those found in ionic clay deposits, are in high demand for their use in various high-tech and green energy applications. The Ema project's potential for producing both light and heavy rare earths positions it favorably in the global REE market, especially given its geological similarities to productive Chinese deposits.

Conclusion:

The latest results from Brazilian Critical Minerals' Ema Project demonstrate potential for a high-grade rare earth element resource. With consistent mineralization, favorable geology for ISR mining, and ongoing technical studies, the project is progressing well. The upcoming scoping study and continued resource definition work will be key catalysts for the project.

Sources:

BCM Drill Results Announcement

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Nov 13, 2024