Equinox Resources’ auger drilling has uncovered the potential for Rio Negro to host ionic rare earths. Pic: Getty Images
Equinox’s high grade hits point to ionic rare earths mineralisation at Rio Negro
Mining
share
- Auger drilling outlines potential of Equinox Resources’ Rio Negro prospect to host ionic REE mineralisation
- Several high-grade intervals are strong candidates for further exploration using RC drilling at depth
- Phase II drilling at Rio Negro will consist of RC holes totalling 4000m targeting monazite sand and host hard rock
Special Report: Equinox Resources’ remaining assays from scout auger drilling have delivered even more high-grade results and reinforced the Rio Negro prospect’s potential to host ionic rare earths mineralisation.
The remaining assays include open mineralisation in clay of 5155 parts per million total rare earth oxides from a down-hole depth of 11.5m, adding to previous results such as 0.5m at 6085ppm TREO with valuable magnet rare earths neodymium and praseodymium making up 1274ppm and dysprosium and terbium another 64ppm.
Equinox Resources (ASX:EQN) noted that the scout auger drill program at the prospect within its 1801km2 Campo Grande project in Brazil’s Bahia state had detected significant cerium anomalies across 30 intervals.
These anomalies indicate active cerium mobilisation within the weathering profile, pointing to potential zones of rare earth element enrichment, which suggest the presence of ionic rare earth mineralisation.
What makes the finding especially promising is that these intervals fall within the medium to high-grade categories, making them strong candidates for further exploration using reverse circulation drilling at depth to target monazite sand and host hard rock.
“Our scout auger drilling campaign has laid a solid foundation, revealing significant cerium anomalies and potential zones of rare earth element enrichment,” managing director Zac Komur said.
“Our goal now is to build on these results, targeting depths that will allow us to better define the extent of mineralisation and advance the project.
“Coupled with our own auger drill rigs and team, we’ve already progressed the auger drilling campaigns at our other targets at Campo Grande.
“We’re encouraged that the RC drilling program will unlock even greater value at Rio Negro.”
Commanding land position
EQN’s Campo Grande project represents the largest land position that is adjacent to and around that held by fellow ASX lister Brazilian Rare Earths (ASX:BRE), which has defined a world-class 510Mt REE and critical minerals portfolio in the Rocha da Rocha REE district.
Surface sampling carried out by the company had determined that mineralisation can occur from surface outcrops at the recently acquired Amargosa, Jitaúna and Jaguaquara blocks and extend up to 75m deep, hosting REE, niobium, scandium and uranium cumulate.
Along with Jaguaquara being just ~3km from BRE’s Sulista discovery, which returned up to 22.4% TREO, the high priority targets are also located ~2km away from BRE’s Pele project, which has returned high grade assays of up to 10.4% TREO.
EQN’s planned Phase II drilling will consist of ~4000m of RC drilling that will target monazite sand and host hard rock below the high-grade clay intercept areas within significant thorium anomalous areas of the prospect.
Equinox is strategically positioned with over 1,700 km² in a province recognised for its ultra-high-grade REE.
The company is actively conducting exploration, focused on unlocking the value this region holds.
This article was developed in collaboration with Equinox Resources, 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.
Read MoreRare Earths
