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Equinox Resources Ltd (ASX:EQN) has picked up notable intercepts of high-grade rare earths and titanium dioxide through drilling at its Mata da Corda project in Brazil.
The results – taken from 7 reverse circulation (RC) holes drilled during Equinox’s maiden program at the play – represent a significant discovery for these two commodities, it said.
Rare earth intercepts included 4 metres at 4323ppm (parts per million) TREO total rare earth oxides) (28% magnetic rare earth oxides, or MREO) from 16 metres; 5 metres at 3672ppm TREO (26% MREO) from 8 metres; and 3 metres at 3637ppm TREO (27% MREO) from 33 metres.
Meanwhile, results for titanium dioxide included 3 metres at 15.5% TiO₂ from 13 metres; 3 metres at 15.3% TiO₂ from 1 metres; and 3 metres at 15.2% TiO₂ from 21 metres.
The holes all had an average depth of 22 metres.
Further results are expected from high-grade surface sample areas, and Equinox is also set to kick off diamond drilling at Mata da Corda – which is located in Brazil’s Minas Gerais region.
Managing director Zac Komur said the results confirmed Equinox’s confidence in the project in terms of its multi-commodity richness.
“We are excited by the consistently high grades of both rare earth elements and titanium
mineralisation identified across multiple zones at our Mata da Corda project,” he said.
“Significant intercepts, such as 4323 ppm TREO and 15.5% TiO₂, highlight the exceptional multi-commodity potential of this asset.
“These results confirm the scale and quality of the project, reinforcing Mata da Corda’s
importance in our growth strategy.
“With a robust rare earth system and substantial titanium grades across a vast 972 km² total project area, Mata da Corda is quickly establishing itself as a world-class multi-commodity project.”
Equinox has been trading at 23 cents.
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