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Viridis Mining and Minerals (ASX: VMM) has remained steady on the market today on grades topping 27,000 parts per million from its rare earths territory in Brazil.
That result came from the Tamoyo project, at 27,087ppm Total Rare Earth Oxides.
The company extended its rare earths ground in Brazil only last month and holds more than 15 kilometres at the Cupim South Project alone.
High grades were found there and also at the Centro Sul, Tamoyo and Fazenda projects.
Two separate discoveries have been made at Centro Sul and Tamoyo – which are north and south of the alkaline complex – through a maiden program which includes both reverse circulation (RC) and diamond drilling.
From these, the results which are most worth a look are at Tamoyo, with one hole recording 15 metres at 6,153ppm TREOA from surface, including 8m at 9,765ppm TREO (38% mixed rare earth oxides, or MREO). Within this, there were peak grades of 1 metre at 27,087ppm TREO and 423ppm Dy-Tb (dysprosium-terbium) oxide.
At Cupim South, the focus has been on infill RC and diamond drilling, and these have uncovered the thickest intercept to date and consistent mineralisation.
Results there included 81m at 2,236ppm TREO from surface, including 30m at 3,105ppm TREO (30% MREO).
Finally, auger drilling at Fazenda has highlighted an extremely high-grade area which is rich in both dysprosium and terbium, suggesting that both light and heavy rare earths may be produced within Viridian’s holdings here.
Chief Executive Officer, Rafael Moreno said the Tamoyo and Centro Sul in particular encouraged confidence in the territory’s rare earth potential.
“I’m extremely pleased, considering we’ve made two new greenfield discoveries at opposite ends of the Complex, reaffirming the homogenous nature of the mineralisation, whilst the infill drilling at Cupim South has returned the thickest intercept to date and auger drilling at Fazenda continues to unlock its remarkable near-surface and high-grade heavy rare earth potential,” he said.
“Fazenda is proving itself to be an incredibly critical part of the Colossus Project, being the only known location in the Complex which hosts surface level high-grade heavy rare earths within a granted mining license and bodes well for the output from our initial Scoping study.
“Our consistent investment into greenfield exploration is also paying off, as for each of the last three batches we’ve discovered record breaking grades – this time within a Mining License from maiden RC and diamond drilling, returning an impressive 15m @ 6,153ppm TREO.”
Viridis is trading at $1.18c.
