More high-grade hits at Caladão

Axel REE has reported another batch of high-grade gallium and rare earth element (REE) assays from its flagship Caladão project in Brazil’s Lithium Valley.

Recent auger drilling returned standout results, including 15m at 60 grams per tonne (g/t) gallium oxide (Ga₂O₃) from surface (CLD-AUG-232), 6m at 75g/t Ga₂O₃ (CLD-AUG-247), and 17m at 6792 parts per million (ppm) total rare earth oxides (TREO) from surface (CLD-AUG-233).

A total of 417 holes for 6182m have been drilled to date, with drilling focused on Caladão’s weathering profile.

Auger holes, which typically extend to depths of 20m, have revealed thick mineralisation that remains open at depth.

“We are delighted to continue reporting consistently impressive gallium and REE assay results across a 60km² mineralised area, with additional areas out of the 400km² Caladão project yet to be tested,” Axel REE managing director Fernando Tallarico said.

“The continuation of thick and high-grade gallium and REE intercepts from auger drilling is showing that mineralisation is also open at depth, with the potential for expansion following further deeper drilling.”

Other high-grade REE results from the latest drilling includes 13m at 5432ppm TREO from surface (CLD-AUG-228), 10m at 4500ppm TREO (CLD-AUG-251), and 4m at 3943ppm TREO (CLD-AUG-255).

“The program has now comprised over 6000 metres of drilling and demonstrated that the Caladão mineralisation is high-grade and thick with an incredible lateral persistence,” Tallarico said.

“The next steps include defining a maiden gallium and REE resource estimate with SRK. In parallel, selected samples of mineralised gallium and REE assays have arrived at ANSTO with the metallurgical program progressing at their facility in Sydney, Australia.

“Auger drilling will continue in Caladão Area B and is also ongoing at our Caldas project at the world-class Poços de Caldas Alkaline Complex, to the south of the State of Minas Gerais.”