Axel REE is on a roll as it advances its flagship Caladão project in Minas Gerais, Brazil, with the latest assays highlighting the project’s significant rare earth element (REE) and gallium potential.
Caladão’s mineralised drilled area now spans approximately 60km², a 68 per cent increase from prior estimates. Despite this increase, 60km² represents just 15 per cent of the overall project area.
“The consistency of high-grade REE mineralisation returning from every batch with almost 4000 assays received so far is highly encouraging,” Axel Ree managing director Fernando Tallarico said.
“Not only are the grades high, but they are also associated with thick REE horizons in the weathering profile.
“Significant gallium concentrations, found in the upper portions of the regolith, are also consistent and widespread at Caladão.”
Phase one drilling revealed high-grade REE assays at both Area A and Area B:
- CLD-AUG-124 (Area A): 14m at 3921 parts per million (ppm) TREO (20 per cent MREO) from 1m
- CLD-DDH-018 (Area A): 37.37m at 2774ppm TREO (23 per cent MREO) from 7m
- CLD-AUG-142 (Area B): 3m at 1880ppm TREO (28 per cent MREO) from surface.
Gallium, identified as a value-boosting by-product, also demonstrated strong potential:
- CLD-DDH-024: 20m at 78.57 grams per tonne (g/t) gallium oxide (Ga₂O₃) from surface
- CLD-DDH-019: 30.33m at 61.85 g/t Ga₂O₃ from surface.
The global importance of gallium, especially after China imposed an export ban in December 2024, adds strategic value to the Caladão project.
“This shapes our project as a unique critical minerals opportunity as the value of gallium continues to increase,” Tallarico said.
Gallium is used for semiconductors, defence technologies, and renewable energy applications.
Axel plans to define a maiden JORC-compliant mineral resource for Caladão in 2025 while progressing metallurgical testing.
“Not often do exploration programs go from grassroots to resource definition in such a short period,” Tallarico said.
“We are pleased that we set out on IPO to aggressively drill Caladão and have achieved exploration success here in a short period.”
With further drilling planned in Area B, Axel REE appears well-positioned to capitalise on the growing demand for critical minerals.
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