Equinox Resources Ltd (ASX:EQN) has seen its share price rise to nearly 53% after reporting the discovery of a large titanium intercept measuring 61.2 metres at 11.89% TiO₂ (titanium dioxide) from the surface at its Mata da Corda project in Brazil.
This was one of several drilling results picked up from an ongoing program at the multicommodity play – located in the Minas Gerais region – with 63 additional drill holes, with an average depth of 18.8 meters, returning exceptional titanium dioxide (TiO₂) results from the surface.
The average titanium dioxide grade was 10.23%; standout intercepts included 12 metres at 15.32% TiO₂, 61.2 metres at 11.89% TiO₂, and 23.95 metres at 13.38% TiO2.
Additionally, high-grade titanium, total rare earth oxides (TREO), and niobium pentoxide (Nb₂O₅) intercepts were concentrated within 10 to 15 meters from the surface, suggesting strong potential for development opportunities.
“These high-grade titanium intercepts, averaging 10.23% TiO₂ with a consistent grade profile and homogenous distribution, highlight the strong mineralisation continuity of the Mata da Corda project,” Managing Director Zac Komur said.
Mr Komur believes the drilling results pointed to a continually growing positive story.
“Combined with the potential for niobium and rare earth co-product credits, this district-scale discovery, staked just a year ago, marks a pivotal achievement.
“These latest results advance us toward our target of delivering our maiden Mineral Resource Estimate in H1 CY2025 and demonstrate the substantial value being built within our portfolio.”
Equinox shares last traded at 15.2 cents – a rise of 52.5% since the market opened.
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