Tiros Project Studies Update
Toronto, Aug 12, 2024 AEST (ABN Newswire) - Resouro Strategic Metals Inc. (
ASX:RAU) (CVE:RSM) (8TX:FRA) (RSGOF:OTCMKTS) is pleased to provide an update on project studies for the Tiros Titanium and Rare Earth Elements Project in Brazil ("Tiros Project" or the "Project"). This includes progressing the metallurgical testwork and appointing industry leading technical experts to advance mining studies, environmental assessments and project approvals.
Highlights
Following the announcement dated 18th July 2024 of the 1.7 billion tonne, maiden JORC Mineral Resource Estimate ("MRE") of Measured, Indicated and Inferred Resource for the Tiros Project, Resouro has advanced the following key activities:
1. Progressed first phase metallurgical testwork for the Tiros Project Central Block resource:
a) Near completion of non-conventional first phase rare earth testwork with our partner, Altilium Group Ltd. ("Altilium") with results expected imminently;
b) Commenced conventional rare earth metallurgical testwork with our partners, Centre for Intelligent Technologies (CIT) Senai ("CIT Senai") and SGS S.A. Laboratories ("SGS"), in Belo Horizonte, Brazil;
2. Appointed Atticus to complete initial mine planning activities as part of the Preliminary Economic Assessment ("PEA") for Tiros;
3. Appointed Ausenco Limited ("Ausenco") to lead and manage the PEA for Tiros;
4. Appointed CLAM Meio Ambiente ("CLAM") environmental and social consultants to complete an Environmental Assessment as part of the project permitting and approvals process; and
5. Positive engagement with regulatory authorities in Minas Gerais, leading to commencing the process for application of a Mining Concession over the Central Block of Tiros.
Commenting on the appointment of these consultants and progress at Tiros, President, CEO, Director and Founder, Chris Eager commented:
"Completion of the JORC compliant Mineral Resource Estimate has paved the way for the selection of initial mining areas and compilation of representative composite samples for metallurgical testwork for the planned PEA Scoping Study for Tiros."
"These initiatives are designed to highlight the full potential of our resources, optimize processes and deliver sustainable solutions. By leveraging cutting-edge technology and expert insights, we aim to push the boundaries of what is possible in metallurgy and achieve superior results, in terms of both economic and environmental outcomes."
"Resouro remains committed to sustainable practices and positive community engagement, ensuring that our growth contributes to the well-being of the regions in which we operate."
"Resouro looks forward to updating the market on metallurgical testwork results and progress to completion of our Preliminary Economic Assessment."
1. Metallurgical Testwork Programs
Resouro is undertaking two major streams of metallurgical testwork in parallel, to gain insight into the preferred rare earth and TiO2 recoveries and processing route.
a) Altilium Metallurgical Testwork
The scope for the first stage Altilium test work was aimed at understanding the feasibility of applying the Altilium Ti/REE Process(TM) technology to Resouro's samples mainly for the extraction of rare earth elements into solution.
The work involved a composite sample of approximately 50kg, premixed by Resouro, air dried and milled to 100% passing 0.5mm. Chemical and mineralogical analysis was conducted on the head sample. Three optimization sighter leach tests were conducted using nitric acid (HNO3) applying the Altilium Ti/REE Process(TM) in Laboratories in Brisbane, Australia to generate Pregnant Leach Solution (PLS) and residue. The samples were assayed for aluminium (Al), calcium (Ca), cobalt (Co), chromium (Cr), iron (Fe), gallium (Ga), magnesium (Mg), manganese (Mn), nickel (Ni), sulphur (S), scandium (Sc), silicon (Si), titanium (Ti), and rare earth elements (REEs).
The assay results of the Altilium sighter testwork are under review and are expected to be announced imminently.
About the Altilium Group Limited
Altilium Group Limited ("Altilium Group"), incorporated in England, is the parent company of Altilium Licensing Limited ("ALL") and Altilium Projects (Australia) Pty Ltd).
Research and development for the Altilium Group is performed in Australia. Altilium Technology may be applied to ore, mining waste or process tailings. The first developed application of Altilium Technology was the Altilium Nickel Laterite Process(TM) which is designed to process nickel laterite ore. The Altilium Group has subsequently developed the following processes:
- Altilium Bauxite Process(TM) - to extract metals from bauxite ore;
- Altilium Red Mud Process(TM) - to re-process bauxite residue (tailings); and
- Altilium Ti/REE Process(TM) - to extract titanium and rare earth elements from a lateritic ore.
The Altilium Group is proactively researching and developing new applications for its technology with a focus on the extraction of critical metals b) Conventional Metallurgical Testwork with CIT Senai Resouro has partnered with CIT Senai who are part of the FIEMG group of companies.
FIEMG are the leading private industry group in the state of Minas Gerais and have been established for over 90 years, offering innovative solutions that promote a positive impact on the economy, competitiveness, sustainability and social transformation in Brazil.
FIEMG connects companies, governments and communities, in a business environment that is conducive to sustainable development and innovation. CIT Senai is the arm of the business that contains extensive laboratory assets and project history including a rare earth magnet laboratory now producing small-scale rare earth magnets in Belo Horizonte, Brazil.
The partnership initially involves a detailed 12-month program split into;
- Mineral Characterisation;
- Leaching Testwork;
- Gravimetric, Electrostatic/Magnetic Testwork; and
- Optimisation.
An approximately 500kg sample of Tiros representative material from composites has been delivered to CIT Senai and work has commenced per the scope. The aim of this work is to develop a preliminary process flow sheet and assess a cost-benefit study to determine the optimal path forward for the Project.
2. Appointment of Atticus to complete Geology, Geotechnical and Mine Planning Activities
Resouro has appointed Atticus to complete the geology, geotechnical and initial mining planning activities on the Tiros deposit.
Atticus is the subject matter expert who completed the Tiros maiden JORC MRE and will continue to work with Resouro on advancing the Project. Atticus will utilise the data from the MRE along with ongoing infill drilling for mine planning, design and metallurgy purposes.
3. Appointment of Leading Engineering Consultant, Ausenco, to Lead the Preliminary Economic Assessment for Tiros
Resouro has appointed global engineering consultant, Ausenco, to manage the PEA for Tiros.
The PEA, also referred to as a 'Scoping Study', is a critical economic analysis to determine the viability of Tiros' Mineral Resources. This PEA analysis will provide valuable insights into the potential profitability, risks and opportunities associated with developing Tiros.
Ausenco have had significant experience in providing engineering, project development and delivery solutions, including managing engineering studies of this nature. The Ausenco team is based across twenty-six offices in fifteen countries, with projects in over eighty locations worldwide including Belo Horizonte, Minas Gerais, Brazil, where Resouro is based and the flagship Tiros Project is located.
4. Appointment of Leading Environmental Consultant, CLAM, to Complete the Initial Environmental Assessments for Tiros Resouro has appointed leading environmental consultants CLAM to develop the initial environmental assessments for the Tiros Project. The technical studies will evaluate the environmental and social aspects of Tiros as part of the overall approval and permitting process and to support a potential future development decision.
CLAM is considered a leading consultant in sustainability related to Integrated Environmental Management and Corporate Sustainability and has nearly three decades of experience in this field. CLAM's key sector exposure covers heavy industry, mining, energy, oil and gas, agroforestry, and other general services. CLAM has a multidisciplinary technical team, comprised of 600+ collaborators, including field professionals and specialists.
5. Early Preparation of Tiros Mining Concession Application
Considering the exceptional results of the maiden JORC MRE and technical progress made to date on the Tiros Project, as well as the global demand of rare earths and titanium critical minerals, Resouro is commencing early works associated with its Mining Concession application. This involves but not limited to; Defining the areas that will be affected by mining, Environmental Impact Assessment, mine planning, waste and tailings disposal (if required), details of the treatment plant and production rates.
The Tiros Project is underpinned by a 1.7 billion tonne MRE at 3,900 ppm Total Rare Earth Oxide (TREO), 1,100 ppm Magnet Rare Earth Oxides (MREO) and 12% Titanium Dioxide (TiO2) (refer footnote 1 and ASX announcement of 18 July 2024 for full details).
The MRE places the Tiros Project as one of the largest undeveloped titanium and rare earth resources globally. The location of Tiros, being within Brazil's most advanced mining state Minas Gerais, benefits significantly from access to infrastructure, including existing roads, rail and port facilities, as well as a progressive and supportive community.
Resouro has had strong engagement with regulatory authorities and has, in collaboration, mapped out a range of potential pathways to accelerate project licences and approvals.
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About Resouro Strategic Metals Inc.
Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (OTCMKTS:RSGOF) (FRA:8TX) is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the rare earth elements and titanium Tiros Project and the Novo Mundo and Santa Angela gold projects.
The Tiros Project, located in northern Minas Gerais, Brazil, is an exploration project focused on rare earth elements and titanium covering an area of approximately 450 km2. The Tiros Project comprises 17 exploration permits, and one exploration permit application held by the Company's Brazilian subsidiary; and 6 exploration permits and one exploration permit application that have been validly assigned to the Company's Brazilian subsidiary and are awaiting ANM approval. The Company holds, via its wholly owned Brazilian subsidiary, a 90% interest in the Tiros Project and the remaining 10% interest in the Tiros Project is held by RBM Consultoria Mineral Eireli (RBM), an unrelated third-party vendor.
The Novo Mundo Project is located in the Alta Floresta Gold Province close to the northern border of the state of Mato Grosso, central Brazil. Within the licensed area is the small town of Novo Mundo, which is 30km west from the larger town of Guaranta do Norte. It comprises three exploration permits. The Company also has another interest in an exploration permit, being the Santa Angela Project, which is not considered material to the Company's operations. Interests in the Novo Mundo Project and Santa Angela Project are held via the Company's wholly owned subsidiary.
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