Brazilian Rare Earths Ltd (ASX:BRE) has discovered an area of outcropping near its high-grade Monte Alto deposit which includes mineralisation grading 14.6% in total rare earth oxides (TREO), in addition to a significant amount of different heavy rare earths.
The latter includes 5,691 parts per million (ppm) dysprosium oxide (Dy2O3), 737ppm terbium oxide (Tb4O7), and 74,543ppm yttrium oxide (Y2O3), with the outcropping only 2.5 kilometres from Monte Alto.
The company has also undertaken channel sampling at Monte Alto East across a three-metre wide exposure, yielding grades of up to 10.7% TREO, with heavy rare earth grades including 4,306ppm Dy2O3, 508ppm Tb4O7, and 51,556ppm Y2O3.
Across the project – located in the critical minerals province of Rocha da Rocha in northeastern Brazil – multiple high-grade outcrops have been found, including high-grade REE-Nb-Sc-Ta-U hard rock mineralisation grading up to 11.7% TREO. Brazilian Rare Earths has also confirmed extensive areas of shallow, high-grade monazite-sand mineralisation with grades exceeding 1% TREO.
BRE anticipates the findings will indicate a district style discovery, given they represent a doubling of the Monte Alto target exploration area to over four kilometres by three kilometres, with the outcrops extending over district-scale magnetic anomalies adjacent to the deposit.
CEO and managing director Bernardo da Veiga said the discoveries pointed to the value of the area.
“These outstanding regional exploration results at Monte Alto underscore the prospectivity of our high-grade rare earth province,” he said.
“The discoveries significantly expand Monte Alto’s target exploration area and demonstrate
its world-class scale, exceptional rare earth grades and substantial potential for exploration upside.
“We are thrilled with the exceptionally high-grade heavy rare earth assays from an outcropping discovery located just 2.5km from Monte Alto.
“Heavy rare earths grades of up to 6,428ppm of dysprosium and terbium (DyTb) are
remarkable – and represent some of the highest-grade DyTb assays ever reported globally.”
BRE shares rose on the news, and by 16:56 AEDT, they were trading at $2.49 – a rise of 2.89% since the market opened.
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