OzAurum finds new niobium anomaly at Salitre project in Brazil

Exploration at OZM’s Salitre project returns anomalous niobium mineralisation
Niobium anomaly extends for 1km
Dr Neil Pendock identifies cluster of UV anomalies co-incident with niobium
Follow-up soil sampling program is planned to begin in coming weeks

Special Report: Exploration at OzAurum’s Salitre project has discovered niobium mineralisation in soil sampling with a cluster of co-incidental UV anomalies.

OzAurum (ASX:OZM) has been working up a storm at its Salitre and Catalao niobium projects in recent times following the grant of tenements.

Both projects are situated within the Alto Paranaba Magmatic Province (APMP) that accounts for 97% of worldwide niobium production, all hosted in carbonatite intrusions.

Brazil also hosts ~98% of the world’s reserves of niobium, a high-value element used in things like jet engines and rockets, beams and girders for construction, superconducting magnets, electronics, and the nuclear industry.

Experts believe that niobium can also replace cobalt in battery applications, for which Brazil is leading the charge.

Alto Paranaba Magmatic Province-OZM Brazil Niobium + REE project areas. Pic via OZM

Niobium anomaly 1km long

The first results have been received from reconnaissance geological fieldwork and soil sampling, designed to test circular features, interpreted by remote sensing, for anomalous niobium and rare earth element (REE) geochemistry.

Target 1, identified as a UV anomaly by Dr Neil Pendock, is considered an ‘exciting niobium carbonatite’ based on coincident high gamma radiation readings, a cluster of nine UV anomalies and associated anomalous niobium soil results over a 1 km area.

All six samples returned anomalous niobium in soil assays, with a peak niobium result of 190ppm and peak TREO result of 776ppm.

The average niobium soil result from this program was 74 ppm with the lowest assay being 25ppm

OZM is planning to complete a further soil program on 100m x 100m spacing over a 1.2km2 area in the coming weeks, subject to gaining landholder approval.

The company-owned diamond drilling rig along with the OZM drilling crew is ready to be mobilised to site immediately following receipt of environmental approval to drill.

Following up UV anomalies

“We are excited to discover niobium mineralisation in soil sampling with a cluster of co-incidental UV anomalies we will be following this up with more detailed soil sampling in the coming weeks,” OZM managing director Andrew Pumphrey said.

“We are very excited with the exploration opportunity that this project presents to OZM shareholders.”

What now?

A follow-up soil sampling program is planned to commence in the coming weeks with a company-owned diamond drilling rig and crew on standby, subject to environmental permitting and access.

This article was developed in collaboration with OzAurum, 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.