As Equinox Resources Ltd (ASX:EQN) looks ahead to achieving a mineral resource estimate (MRE) for its Mata da Corda titanium and rare earths project in Brazil, a suite of new high-grade results in the former metal in particular is building anticipation for the project’s future.
Assays from 35 holes drilled at the program yielded results such as 10.2 metres at 15.0% TiO₂ (titanium dioxide) in one hole and 15m at 13.6% TiO₂ in another, showcasing significant high-grade potential.
Equinox pointed out 43 intercepts went beyond 12.0% TiO₂ across 85.6 meters, and that the highest grade titanium occurred within the top 15 metres.
The drilling was also impressive in terms of what it showed for total rare earth oxides (TREO), with strong levels of magnetic rare earth oxide (MREO) content in particular.
This included three metres at 6,847 ppm (parts per million) TREO (27% MREO), with 31 intercepts exceeding 3,000 ppm TREO totaling 53.4 meters.
Equinox is aiming to progress an MRE in the first half of the 2025 calendar year, with ongoing drilling at the Patos and Pindaibas prospects, which comprise only 1.4% of the whole Mata da Corda project area of 972 square kilometres.
Equinox shares moved up after the news, and at 13:49 AEDT, they were trading at 14.5 cents – a rise of 3.57% since the market opened.
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