• Axel REE’s auger drilling continues to show consistently high-grade rare earths mineralisation at the Caldas project
  • Shallow holes end in high grade mineralisation, demonstrating upside at depth
  • Maiden resource to soon be tallied up at Axel’s nearby Caladão

 

Special Report: Axel REE has logged a fresh batch of thick and consistently high-grade intercepts from the surface of its Caldas rare earth project in Brazil.

The Axel REE (ASX:AXL) auger campaign has an average assay of 3229ppm total rare earth oxides from the 20 holes completed to date. With all ending in mineralisation, the company expects to continue at depth.

Axel’s fully owned project sits within a well-proven rare earth rich intrusive in the southwest of mining-friendly Minas Gerais.

Caldas neighbours Meteoric Resources (ASX:MEI) and Viridis Mining and Minerals (ASX:VMM) both boast high end discoveries and Axel is fast proving up one for itself, with its latest hits going close to 20,000ppm TREO.

 

Plan view of consistently high-grade auger drill intercepts at Axel’s prospect at Caldas. Pic: AXL

 

Magnet metal magic

Axel managing director Dr Fernando Tallarico said the company was extremely excited by its latest results from the ongoing campaign, noting the high proportion of magnet rare earths.

Those are the critical metals used in modern technologies that require permanent magnets like EV motors and wind turbines.

“The REE mineralisation continues to be consistent, high grade and with excellent high-value magnetic rare earth proportions over 40%,” Tallarico said.

“The deepest hole we have drilled so far only reached 23 meters as auger drilling typically has a limited depth of penetration.

“It is exciting that these auger holes have all ended in increasingly high-grade mineralisation, highlighting the exploration upside at depth.”

Tallarico mentioned that Axel shareholders have a lot of consistent news flow to look forward to.

“The Caldas project is in a well-known world class alkaline complex and is already delivering excellent results replicating the major adjacent discoveries by Meteoric Resources and Viridis,” he said.

“Meanwhile at our flagship Caladão REE and gallium discovery, we are progressing to JORC resource estimation and metallurgical testing.”

Significant new results:

  • CAL-AUG-003: 20m at 3082ppm TREO (26% MREO) from surface, including 8m at 4053ppm TREO (31%) from 9m with 1m at 6536ppm TREO (32%) from 15m
  • CAL-AUG-009: 13m at 5735ppm TREO (25% MREO) from surface, including 5m at 10526ppm TREO (30% MREO) from 8m with 1m at 19,493ppm TREO (33%) from 11m
  • CAL-AUG-014: 14m at 3051ppm TREO (25% MREO) from surface, including: 5m at 4666pm TREO (30% MREO) from 9m with 3m at 6118ppm TREO (35%) from 11m; and
  • CAL-AUG-019: 10m at 4874ppm TREO (34% MREO) from surface including: 6m at 6730pm TREO (38% MREO) from 4m with 1m at 7166ppm TREO (40%) from 11m.

 

Brazilian bounty

Millions of years of volcanic activities in a tropical climate have primed Brazil to become a new source of the large and easily mined ionic clay-hosted rare earth deposits around which China built dominance in the rare earth supply chain.

And with the minerals superpower continuing to flex its muscle, it’s little wonder why investors have leapt on ASX juniors in Brazil’s rare earth scene.

Axel has a quartet of projects covering 1105km2 across Brazil, with its Caladão and Caldas projects currently the most advanced.

The company has seen very consistent results from the pair so far, and the latest diamond drilling results from its Caladão rare earth and gallium flagship were no exception as AXL looks to tally up a maiden resource.

 

 

 


This article was developed in collaboration with Axel REE, a Stockhead advertiser at the time of publishing.

 

 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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