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Enova Mining (ASX:ENV) has flagged “high-grade” assay results for rare earths on the back of four diamond drill holes sunk at its Coda North project in Brazil.
The company headlined with its best result, an 18m wide intersection at 4,447ppm Total Rare Earth Oxides (TREO) – or 0.44% – and a 15.4m wide intersection at 0.31% TREO downhole a second diamond hole.
At the same time, the company has also hit an intersection just under 60m in width boasting titanium grades of 10%. A second 44m intersection came in at 11% titanium.
All in all, geotechs interpret the data as evidence mineralisation on site extends across the tenements that form it. The company is quick to note its project overlies the geological Patos Formation.
“Results from the first batch of assay results for four holes from our drill campaign are impressive and underscore the exceptional value of our tenements,” ENV CEO Eric Vessel said.
“We are gathering samples for metallurgical testing, a crucial step to advancing our project. A key factor in driving the success of any rare earth project is the value derived from its product mix.
“The high [Magnetic Rare Earth Oxide]/TREO ratios and presence of elevated TiO2 assays are a strong indicator of the inherent project value. We have further assay results pending and will advise the market in the near future.”
ENV last traded at 1.5cps.
