High grades uncovered at Caldas

Another batch of high-grade assay results have been discovered at Axel REE’s Caldas project in Brazil’s Poços de Caldas alkaline complex.

The latest results reinforce the project’s potential as a significant rare earth element (REE) discovery, with mineralisation remaining thick, high-grade, and open at depth.

Key intercepts from the auger drilling program include:

• 13m at 5735 parts per million (ppm) TREO from surface, including 5m at 10,526ppm TREO
• 10m at 4874ppm TREO, with 6m at 6730ppm TREO
• 20m at 3082ppm TREO, with 8m at 4053ppm TREO.

Twenty auger holes have been completed to date, with assays averaging 3229ppm TREO and all holes ending in mineralisation.

Axel REE managing director Fernando Tallarico expressed confidence in the project’s outlook.

“We are extremely excited with the latest results of our ongoing auger drill program at Caldas,” he said.

“The REE mineralisation continues to be consistent, high-grade and with excellent high-value magnetic rare earth proportions over 40 per cent.”

These results align with mineralisation seen in nearby projects, such as Meteoric Resources’ Caldeira deposit and Viridis Mining & Metals’ Colossus deposit, which boast significant rare earth resources.

Importantly, Axel REE’s drilling has confirmed that all auger holes ended in mineralisation.

“The deepest hole we have drilled so far only reached 23 metres as auger drilling typically has a limited depth of penetration,” Tallarico said.

“It is exciting that these auger holes have all ended in increasingly high-grade mineralisation, highlighting the exploration upside at depth.”

Beyond Caldas, Axel continues advancing its flagship Caladão REE and gallium discovery towards a maiden JORC resource.

With 23,200 hectares of exploration tenure and a drilling program that continues to return high-value REE results, Axel REE is positioning itself as a serious player in the rare earths space.