Multi-mineral seeker Equinox Resources Ltd (ASX: EQN) has moved quickly from the staking of its Campo Grande rare earths project in Brazil to maiden drilling at its high-grade Rio Negro prospect, which holds rare earths elements (REEs) in clay.
Having already noted grades of up to 2,282 parts per million TREO (total rare earth oxide) at the prospect, based on initial sampling, Equinox is keen to roll out its program of reverse circulation drilling to 2,000 metres, believing that the concentration of REE grades will increase at depth.
CEO Zac Komur said the company was aiming to push multiple exploration activities across the 1,760-square kilometre territory of Campo Grande, which lies in Brazil’s north-east Bahia state.
“The progress we’ve made with the Campo Grande Project is not just notable; it’s a testament to the power of speed and precision in action,” he said.
“Our ability to assemble an exploration team rapidly, setup a Brazilian identity, embark on an extensive surface sampling campaign, establish a base in Jequié, secure the necessary environmental permits, negotiate land access, finalise a drilling contract, and get commitment and support from community and streamline communication with labs for sample analyses, speaks volumes about our efficiency and competency.”
While the focus was now on drilling to delineate the mineralisation of Rio Negro, Equinox was also looking ahead to further sampling in other parts of the project.
“Our strategy, which involves the deployment of three auger teams, is designed for speed and cost-effectiveness, targeting the higher-grade REE ore zone directly,” he said.
“As we extend our surface sampling activities across the broad expanses of the Campo Grande Project, our vision broadens with the aim of unveiling new opportunities.
“This pursuit enables us to conduct multiple exploration campaigns throughout the project’s vast terrain simultaneously.
Equinox Resources is trading at 22c.