SYDNEY, Australia – 1 February 2024 – Brazilian Rare Earths Limited (ASX:BRE) has announced groundbreaking assay results from the Phase I diamond drilling program at its flagship Monte Alto Rare Earths Project, revealing exceptional concentrations of rare earth elements (REE), niobium (Nb), and scandium (Sc). The project, partially owned by mining magnate Gina Rinehart, has returned wide mineralized intercepts with rare earth grades of up to 34.4% Total Rare Earth Oxide (TREO), including remarkable grades of up to 59,100ppm (5.9%) neodymium-praseodymium (NdPr), 3,229ppm dysprosium-terbium (DyTb), 1.5% niobium, and 352ppm scandium.
The results significantly expand the high-grade REE-Nb-Sc exploration target corridor at Monte Alto, which remains open along strike and at depth. These findings have solidified Monte Alto's status as a world-class rare earth exploration project and have excited stakeholders and industry watchers alike.
CEO and MD of Brazilian Rare Earths, Bernardo da Veiga, noted, “These exceptional high-grade assay results validate Monte Alto as a world-class rare earth exploration project with some of the highest NdPr, DyTb, and Sc ever grades reported globally. The exploration at Monte Alto is scaling with the Phase II diamond drilling program now underway, aiming to delineate a high-grade REE-Nb-Sc hard rock deposit beneath the shallow monazite-sand rich resource. Our exploration team believes that this unique high-grade REE-Nb-Sc mineralization is provincial in scale, with outstanding potential for new high-grade rare earth discoveries along the entire geophysical trendline that runs down the extensive spine of this world-class province.”
The initial assays are from 10 diamond drill holes totaling 1,634 meters, with significant assays reporting ultra-high grade REE-Nb-Sc mineralization in nine holes. The Phase I program was precisely designed to target a prospective high-grade corridor over an 800m long and 200m wide zone, identified through a combination of geophysical surveys and surface sampling.
With these results, BRE has confirmed the presence of significant high-grade REE-Nb-Sc mineralization, primarily monazite, a phosphate mineral rich in REE oxides. The discovery of numerous deposits across outcrops, boulders/corestones, and drillholes containing ultra-high grade zones of monazite supports the exploration model that these are remnants of large mafic cumulates of REE, niobium, and scandium mineralization.
BRE is also accelerating the completion of strategic acquisitions in the region, consolidating its control over this rare earth province with the final acquisition of Rio Tinto’s exploration project, the 'Amargosa' tenements, and the advanced Sulista Rare Earth Project.
The Monte Alto Phase II drilling program, planned for 15,000 meters, is set to explore for high-grade REE-Nb-Sc mineralization along strike and down dip directions. It marks a significant step in realizing the full potential of this world-class province.
For further details on the Amargosa Tenement Acquisition Agreement and the Sulista Option Agreement, please refer to BRE’s ASX announcements and the Prospectus dated 13 November 2023.
About us:
Brazilian Rare Earths owns and operates a district scale Tier 1 Rare Earths Province, located in North Eastern Brazil.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
