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Resouro Strategic Metals Inc (ASX:RAU) has seen its shares rise more than 21% on news it has found titanium dioxide (TiO2) grading up to 25% and total rare earth oxides up to 11,000 parts per million (ppm) at its Tiros project in Brazil.
Twelve holes of drilling at the Minas Gerais region play found intercepts including six metres at 19.5% TiO2 and 4,800ppm TREO from 39 metres downhole; nine metres at 21.8% TiO2 and 7,700ppm TREO from 34 metres downhole; and seven metres at 24.5% TiO2 and 11,000ppm TREO from 39 metres downhole.
Resouro has been running an infill diamond drilling program of 39 holes across the Central Block of Tiros, with further assays due later on in February.
What they have uncovered is a broad zone of high-grade mineralisation with 10% to 12% TiO2 as a typical grade range, in addition to TREO grading between 4,000 to 5,000ppm, plus narrower intervals of very high-grade mineralisation of 19% to 22% TiO2 and 9,000 to 11,000ppm TREO.
The high-grade zone was picked up in eight out of 10 holes.
“These drill hole assays are exceptional on a global scale while remaining characteristic of
Tiros mineralisation,” CEO Alistair Stephens said, adding the results point to the value of the company’s titanium and rare earths mineralisation.
“Beyond the impressive tenor of mineralisation, the lateral continuity over widths of 30m to 50m further underscores the project’s significance.”
Resouro last traded at 25 cents – a sharp rise of 21.95% since market open.
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