Axel REE has confirmed high-grade mineralisation at its Caladão project in Brazil, with recent drilling results positioning it among the world’s most promising rare earth element (REE) systems.
The second tranche of assays from the 2600m phase one drill program revealed high-grade total rare earth oxide (TREO) values and continuous mineralisation over a significant area.
“These assays continue to prove our exploration model and demonstrate that the weathering profile in the Caladão project is not only thick but hosts exceptionally high grades of TREO with up to 39 per cent of the high-value magnetic rare earths,” Axel REE managing director Fernando Tallarico said.
“The results to date show that the mineralised system has world-class potential.”
Standout intersections included 32.1m at 5295ppm TREO (including 10m at 9944ppm TREO) from diamond drill hole CLD-DDH-003, with peak values reaching an impressive 13,492ppm TREO.
Drilling confirmed mineralisation from surface to depths of up to 57m, with auger results revealing lateral continuity over an 8km-by-4km area, covering 30km²—just 10 per cent of the project’s total target area.
“The lateral continuity uncovered combined with continuous mineralised thicknesses of up to 32m grading over 5200ppm TREO positions our project amongst a selected group of world-class REE prospects in Brazil,” Tallarico added.
The assays also indicated significant concentrations of magnet rare earth oxides (MREO), essential for high-performance magnets in electric vehicles and advanced technologies.
Key findings included CLD-AUG-069 with 14m at 4032ppm TREO from surface, and CLD-DDH-005 with 3.85m at 2512ppm TREO from 54m.
Axel’s 20,000m drilling campaign is continuing, with results progressively being released as Tallarico reiterated the company’s aggressive exploration strategy.
Located in Brazil’s Lithium Valley, the Caladão project is emerging as a cornerstone of Axel’s portfolio, with its ‘world-class’ potential driving optimism for a significant REE deposit.
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