Meteoric high-grade hits build Brazilian momentum toward rare earth mining

New Meteoric assays come in up to 37m at 7998ppm total rare earth oxide
Company expects exceptional hits to provide high-grade feed south of starter pit
Continued high-grade mineralisation opens further expansion opportunity

Special Report: Meteoric Resources has logged a fresh batch of assays the company expects to provide some exceptional high-grade feedstock south of the starter pit at its Caldeira rare earths project in Brazil.

The assays came up to 37m at 7998ppm TREO from the surface of Caldeira’s ionic clays, the easily extracted deposits which form the backbone of China’s rare earth dominance and Meteoric Resources (ASX:MEI) own production ambitions.

Meteoric considers the results of its +6500m campaign to be outstanding, supporting expanded, low-cost mining and processing operations for at least a decade with expansion potential.

Mineralisation has so far averaged 27m thick over the licence, and Meteoric managing director Stuart Gale said its exploration and drill teams have continued to find more high-grade areas across the fully owned project.

“This work supports our capacity to feed high-grade ore in excess of 4000ppm TREO to the processing facility for significantly longer periods, further enhancing the economics of the Caldeira Project,” Gale said.

“It’s important to remember that we have still only infill drilled seven of the 69 licences available at the Project.”

“Continued identification of high-grade mineralisation creates greater optionality for the potential expansion of the Project, at the right time, to support the sustainable supply of rare earth materials to the western world.”

Significant results, all bar one from surface, include:

37m at 7,998ppm TREO (0m)
34m at 6,862ppm TREO (0m)
31m at 5,791ppm TREO (0m)
37m at 5,591ppm TREO (0m)
38m at 4,981ppm TREO (0m)
46m at 4,920ppm TREO (0m)
48m at 4,858ppm TREO (2m)
45m at 4,682ppm TREO (0m); and
50m at 4,540ppm TREO (0m).

Rare earth rebound

ASX-listed rare earth stocks have endured some rough years as China massaged down prices from their early 2022 peaks, but Stockhead Garimpeiro Barry FitzGerald at least has narrowed in on Brazil (and Meteoric) to produce as the tide turns.

Brazil has offered its support as well, including Caldeira as the only miner in the initial phase of a Brazil Climate and Ecological Transformation Investment Platform seeking to mobilise close US$10.8b in total capital.

Australia’s own $400m lifeline to a processing plant showed that while prices may be deflated for now, games of geopolitics have rare earths in the sights in the fight against China’s hegemony.

Brazil’s high grades and likely simple processing suggest that when the market does turn these deposits including Meteoric’s market-leading Caldeira could be the first movers in the next generation of rare earths developments.

This article was developed in collaboration with Meteoric 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.