Sydney, Australia, 18 July 2024 | Resouro Strategic Metals Inc. (ASX:RAU; TSX-V:RSM; FSE:BU9; OTC:RSGOGF) is pleased to announce the publication of its maiden JORC-compliant Mineral Resource Estimate (“MRE”) for the Tiros Titanium and Rare Earth Elements Project in Brazil (“Tiros Project” or “Tiros” or “Project”). This marks a significant milestone in the Project’s development.
Highlights
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Maiden JORC MRE: The Tiros Project boasts 1.7 billion tonnes (bn tonnes) at 3,900 parts per million (“ppm”) Total Rare Earth Oxide (“TREO”), 1,100 ppm Magnet Rare Earth Oxides (“MREO”), and 12% Titanium Dioxide (“TiO2”) in all three resource categories.
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High Grade Domain: Within the deposit, there is a high-grade domain of 120 million tonnes at 9,000 ppm TREO, 2,400 ppm MREO, and 23% TiO2.
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Combined Measured and Indicated Resources: These resources represent 1.0 bn tonnes at 4,050 ppm TREO, 1,120 ppm MREO, and 12% TiO2.
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Global Significance: The MRE places the Tiros Project among the largest undeveloped titanium and rare earth resources globally and in Brazil.
Chris Eager, President, CEO, Director, and Founder, commented: “Completion of our maiden JORC-compliant Mineral Resource Estimate for the Central Block of the Tiros Rare Earth project marks a pivotal moment for Resouro Strategic Metals.
The 1.7 bn tonnes of Measured, Indicated and Inferred Resource is contained in a flat lying consistently thick, near surface and highly weathered clay like material.
We consider that the average Resource grades of 3,900 ppm TREO, 1,100 ppm MREO and 12% of TiO2 are well above average for this style of deposit.
I would like to congratulate our Technical and Community Relations Team on the ground at Tiros for the work undertaken to derive a 1.7 bn tonne Resource in a short period of time.
I look forward to updating the market on Resouro's progress to completion of our Preliminary Economic Assessment including the ongoing Metallurgical Test Work Programs.”
Key Resource Parameters
Atticus Geoscience has modeled the maiden MRE using results from 102 drill holes across the Tiros central tenements, including diamond, air core, and auger holes drilled between 2023 and 2024, as well as historical drill holes. The resource estimation applies a conservative cut-off grade of 1,000 ppm TREO, yielding an MRE of 1.7 bn tonnes at 3,900 ppm TREO, 1,100 ppm MREO, and 12% TiO2.
Peer-Group Comparison
The Tiros maiden MRE places the project as one of the largest and highest-grade rare earth projects in Brazil, positioning it competitively against other notable rare earth projects in the region.
Future Work
Resouro plans to undertake several key activities to further develop the Tiros Project, including:
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In-fill drilling to define further JORC-compliant resources.
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Metallurgical test work programs with preferred laboratory partners to optimize REE leaching and TiO2 conditions.
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Undertaking a Scoping Study with an EPCM partner and Subject Matter Experts in 2024 before progressing to Prefeasibility Studies.
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Completing preliminary mining and environmental baseline surveys and studies to submit bulk mining trials.
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Downstream studies and product testing to align the metallurgical flow sheet with offtake partners.
For further information, please contact:
Chris Eager, CEO
Email: chris.eager@resouro.com
Phone: +44 7388 0579809
Justin Clyne, Director
Email: justin.clyne@resouro.com
Phone: +61 407 123 143
Melissa Hamilton, Media
Email: melissa.hamilton@mcpartners.com.au
Phone: +61 417 750 274
About us:
About Resouro Strategic Metals Inc.
Resouro is a Canadian incorporated mineral exploration and development company, listed on the ASX, TSXV, OTC and FSE, focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros project in Minas Gerais and the Novo Mundo Gold Project in Mato Grosso. The Tiros project represents 25 mineral concessions totalling 450 km2 located in the state of Minas Gerais, one of the most infrastructurally developed states of Brazil, 350 km from Belo Horizonte, the state capital. Resouro has released a Mineral Resource Estimate for the Tiros Project of 1.7 bn tonnes of Inferred, Indicated and Measured Resource.
Contact details:
Jane Morgan
Jane Morgan Management
Investor and Media Relations
+61 258 619 317
jm@janemorganmanagement.com.au