Tiros Infill Drilling and Project Update
Toronto, Nov 11, 2024 AEST (ABN Newswire) - Resouro Strategic Metals Inc. (
ASX:RAU) (CVE:RSM) (8TX:FRA) (RSGOF:OTCMKTS) is pleased to announce that the infill drilling campaign for mine planning at the Tiros Titanium and Rare Earth Elements ("REE") Project in Minas Gerais, Brazil ("Tiros Project" or "Tiros" or "Project") has been completed.
HIGHLIGHTS
- Assay results received from the first three diamond drill holes of a 46-diamond drill hole program.
- 2,922 meters were drilled, in total.
- Results included 4 meters at 22.5% Titanium Dioxide ("TiO2") and 7,117ppm Total Rare Earth Oxides ("TREO").
- Data from the program will be used for future estimation of an updated Mineral Resource Estimate ("MRE") and a maiden ore reserve.
ASSAY RESULTS
Assay results from the first three diamond drill holes from the Tiros Central Block infillcampaign in Brazil are summarized as follows:
- 50 metres at 12.9% TiO2 and 3,969ppm TREO (818 ppm Neodymium and Praseodymium ("NdPr")) from 45 metres in drill hole FDTIR-34 ("FDTIR") including,
o 4 metres at 18.5 TiO2% and 3,969ppm TREO (818ppm NdPr) from 53 metres downhole
- 49 metres at 13.7% TiO2 and 4,222ppm TREO (873ppm NdPr) from 5 metres in FDTIR-35, including;
o 4 meters at 22.5% TiO2 and 7,117ppm TREO (1,260ppm NdPr) from 13 metres downhole; and
o 3 metres at 8.9% TiO2 and 8,034ppm TREO (1,196ppm NdPr) from 26 metres downhole.
- 55 meters at 9.9% TiO2 and 3,486ppm TREO (836ppm NdPr) from 31 metres in FDTIR-36, including;
o 4 metres at 8.63% TiO2 and 8,801ppm TREO (3,005ppm NdPr) from 52 metres downhole.
The results reported above are consistent with assay results from previous drilling at the Tiros Central Block, adding high confidence to the consistency of mineralisation.
These reported results represent preliminary assays from an infill diamond drill program, which includes 46 drill holes totalling 2,922m in the Central Block at Tiros using cut-off grades of 1,000ppm for TREO and 6% for TiO2 (refer Appendix 1, 2, 3*). The assay data from the current drill program will be incorporated into the existing resource model for Tiros and used for the updated mineral resources.
Commenting on completion of the infill diamond drill program at Tiros, Resouro's CEO, Alistair Stephens, said: "Completing our infill drilling program brings us one step closer to achieving our development objectives and enhances our understanding of the resource's continuity and quality. We believe the data collected will provide valuable insights that support our future planning and decision-making as we advance towards a comprehensive evaluation.
We look forward to sharing detailed results once the data has been fully analysed."
The difference in the average grades of mineralisation to the grades in the MRE is due to the treatment of cut-off grades and spatial statistical analysis of mineralised domains used in the resource calculation that is different from the average of the data sets. In all data sets, elevated assay of barium, strontium, zircon and niobium are evident, warranting further analysis.
The cross section of the Tiros Project mineralisation (Figure 1) illustrates the high-grade domain, that varies between 2 to 10 metres in thickness (shown in red). The high-grade mineralised layer is exposed at surface in many areas. This high-grade occurs close to the top of a lower grade mineralisation layer that is typically 30 to 40 metres thick.
High-grade titanium and rare earths mineralisation has a correlation to high-iron and low-silica assays, while lower grade titanium and lower grade rare earths mineralisation is associated with low iron and low silica grades.
Figure 2*, in link below, demonstrates how ground penetrating radar has been used to assist in the definition of geological domains. When used in conjunction with drill hole assay data, this information assists in the definition of the mineralisation domains that define the MRE.
Figure 3*, in link below, demonstrates the spatial distribution between the Tiros North (northern), Tiros Central (central), Sao Gotardo and Campos Altos (southern) regions of mineralisation and tenement holding. High grades of mineralisation in drill holes are present in each tenement of the Tiros North, Tiros Central and Sao Gotardo Targets (reference: Prospectus ASX RAU dated 1 May 2024 and lodged with ASX on 13 June 2024).
Background to Tiros Project Drilling
The drilling completed at Tiros has consisted of three phases (Table 3). Historic drilling included 21 drill holes, and an additional 98 drill holes in 2023, which were used to compile the data necessary to complete the maiden MRE.
Drilling Completed by Resouro in the Central Block
Following the release of the Company's maiden JORC compliant MRE for the Tiros Project (reference: ASX Announcement 18 July 2024, TSXV 17 July 2024), an infill drilling campaign was completed within the Central Block at Tiros.
The infill drilling program consisted of 46 diamond drill holes for 2,922m in flat areas with low overburden thickness that would be optimal for the commencement of a mining operation.
The drilling program was designed to provide an improved confidence in a resource model at the Tiros Central Block using the same cut-off grades of 1,000ppm TREO and 6% TiO2 as used in the existing MRE. The data from this program will also be incorporated into the existing Mineral Resource model for Tiros and used for future estimation of an updated Mineral Resource estimation and a maiden ore reserve.
Figure 4* (in link below), outlines the three phases of drilling completed (including the most recent 46 diamond drill holes) on the Central Block at Tiros, which currently represents approximately 7% of the total project tenements area.
Next Steps
Resouro plans to undertake surveys over the Company's tenements, focussing on areas where stripping ratios are optimal for bulk mining trials which have the potential to deliver material within the quickest timeframe. This work includes:
- Further metallurgical test work programs with preferred laboratory partners to optimize REE leaching recovery and TiO2 extraction conditions.
- Undertaking a scoping study with Subject Matter Experts in 2025, as a precursor to Prefeasibility Studies.
- Complete preliminary mining and environmental baseline studies for bulk mining trials.
- Downstream studies and product testing to align the metallurgical flow sheet with potential offtake partners.
- Continued engagement with regulatory authorities in Minas Gerais to progress the process for application of a mining concession over the Central Block of Tiros.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/49K8GQ4A
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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