High Grade Discoveries with Enriched MREOs
Sydney, Feb 5, 2025 AEST (ABN Newswire) - Meteoric Resources NL (
ASX:MEI) is pleased to provide an update on recent drilling completed at the Agostinho Prospect (Figure 1*), located in the north of its 100%-owned Caldeira Rare Earth Ionic Clay Project (Caldeira Project or Project), in the state of Minas Gerais, Brazil.
Highlights
- Exceptional ionic clay intercepts up to 19,183ppm Total Rare Earth Oxides (TREO)
- Enriched Magnetic Rare Earth Oxide (MREO) up to 6,691ppm
- MREO peak zones up to 38% with an average of 30.4%, an increase of 7.4% compared to the Global Resource average.
- Elevated Heavy Magnetic Rare Earths (HREO) up to 2% of TREO
- Drilled 3,301m for 116 holes with outstanding intercepts:
- AGOAC0107 - 24m @ 6,918ppm TREO [0m] with 27% MREO
o including 6m @ 19,183ppm TREO [2m] with 34.9% MREO
- AGOAC0110 - 22m @ 4,422ppm TREO [0m] with 27.7% MREO
o including 10m @ 7,831ppm TREO [0m] with 35.6% MREO
- AGOAC0079 - 28m @ 3,183ppm TREO [0m] with 26.9% MREO
o including 8m @ 7,462ppm TREO [0m] with 37.6% MREO
- AGOAC0098 - 28m @ 5,315ppm TREO [0m] with 27.4% MREO
- AGOAC0070 - 22m @ 4,890ppm TREO [0m] with 27% MREO
- AGOAC0092 - 22m @ 4,323ppm TREO [0m] with 27.2% MREO
- Mineralisation averages 28.4m thickness from surface over of the entire License
Meteoric's Chairman, Andrew Tunks said: "The exploration and drilling teams continue to identify additional high-grade areas across the Caldeira Project. These remarkable results confirm the extensive nature of mineralisation outside the current resource base. Further it highlights that there is considerable opportunity for Meteoric to target enriched zones of magnetic rare earths and heavy rare earths using our extensive database of project wide sampling which is unmatched inside the Caldera.
It's important to remember that we have still only infill drilled eight of the 69 licenses available at the Project and 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."
Agostinho Aircore follow-up drilling program
An Aircore (AC) drilling campaign of 3,301m (116 holes) was completed over Agostinho Prospect (AGO) in September of 2024 (Appendix 1 & Figures 1 & 2*). The program was designed to follow up excellent results in discovery holes: AGDD0001 - 18m @ 3,628ppm TREO [0m] and AGDD0002 - 37m @ 3,143ppm TREO [0m] (ASX Release: 30 January 2024).
The 100m x 100m drill mesh in the central north and central northeastern areas of AGO confirms highgrade mineralisation intersected in AGODD001 and AGODD002. The mineralised Clay Zone averages 27m depth and is mineralised from the surface. All holes intersected mineralisation >1,000ppm TREO with an average grade and thicknesses across the deposit of 28.4m @ 2,771ppm TREO (Figure 3 & Appendix 2*).
The most outstanding TREO grades and MREO contents include:
- AGOAC0107 - 24m @ 6,918ppm TREO [0m] with 27% MREO
o including 6m @ 19,183 ppm TREO [2m] with 34.9% MREO
- AGOAC0110 - 22m @ 4,422ppm TREO [0m] with 27.7% MREO
o including 10m @ 7,831 ppm TREO [0m] with 35.6% MREO
- AGOAC0079 - 28m @ 3,183ppm TREO [0m] with 26.9% MREO
o including 8m @ 7,462 ppm TREO [0m] with 37.6% MREO
- AGOAC0114 - 50m @ 3,039ppm TREO [0m] with 22.3% MREO
- AGOAC0090 - 44m @ 3,435ppm TREO [0m] with 23.2% MREO
- AGOAC0098 - 28m @ 5,315ppm TREO [0m] with 27.4% MREO
- AGOAC0083 - 33m @ 3,452ppm TREO [0m] with 23.2% MREO
- AGOAC0091 - 31m @ 3,735ppm TREO [0m] with 23.8% MREO
- AGOAC0108 - 28m @ 4,066ppm TREO [0m] with 25.7% MREO
- AGOAC0106 - 30m @ 3,761ppm TREO [0m] with 24% MREO
- AGOAC0070 - 22m @ 4,890ppm TREO [0m] with 27% MREO
- AGOAC0062 - 31m @ 3,351ppm TREO [0m] with 22.1% MREO
- AGOAC0005 - 23m @ 4,484ppm TREO [0m] with 26.9% MREO
- AGOAC0094 - 22m @ 4,575ppm TREO [0m] with 29.8% MREO
- AGOAC0009 - 19m @ 5,232ppm TREO [0m] with 30.6% MREO
- AGOAC0084 - 24m @ 4,095ppm TREO [0m] with 26.2% MREO
- AGOAC0030 - 31m @ 3,113ppm TREO [0m] with 24.6% MREO
- AGOAC0092 - 22m @ 4,323ppm TREO [0m] with 27.2% MREO
- AGOAC0018 - 28m @ 3,336ppm TREO [0m] with 30.1% MREO
- AGOAC0111 - 23m @ 3,638ppm TREO [0m] with 26.6% MREO
- AGOAC0099 - 20m @ 4,248ppm TREO [0m] with 23.7% MREO
- AGOAC0093 - 16m @ 5,271ppm TREO [0m] with 27.2% MREO
- AGOAC0096 - 28m @ 3,011ppm TREO [0m] with 27.5% MREO
- AGOAC0101 - 23m @ 3,687ppm TREO [0m] with 24% MREO
- AGOAC0066 - 19m @ 4,163ppm TREO [0m] with 30.4% MREO
- AGOAC0014 - 22m @ 3,393ppm TREO [0m] with 24.2% MREO
- AGOAC0072 - 20m @ 3,246ppm TREO [0m] with 23.4% MREO
- AGOAC0008 - 19m @ 3,443ppm TREO [0m] with 26.4% MREO
- AGOAC0004 - 19m @ 3,427ppm TREO [0m] with 23.9% MREO
- AGOAC0050 - 19m @ 3,147ppm TREO [0m] with 25.3% MREO
- AGOAC0109 - 19m @ 3,083ppm TREO [0m] with 25.6% MREO
- AGOAC0095 - 13m @ 4,234ppm TREO [0m] with 27.3% MREO
- AGOAC0022 - 14m @ 3,384ppm TREO [0m] with 23.2% MREO
- AGOAC0021 - 13m @ 3,200ppm TREO [0m] with 23.6% MREO
Significantly, AGO contains enriched zones of MREO averaging up to 30.4%, with peak zones up to 38% (see intercepts below) compared to an average MREO content of 23.1% for the existing Caldeira Global Resource Estimate.
There exists a large area of enriched MREO content in the central northern and eastern area of the prospect. These areas have a strong correlation with the contiguous, high-grade zone approximately 1,300m x 500m, averaging 28m thickness, grading >3,000ppm TREO in Figure 3*. This results in some ultra-high grade intercepts of MREO including:
- 6m @ 19,183 ppm TREO [2m] with 6,691ppm MREO,
- 8m @ 7,462 ppm TREO [0m] with 2,807ppm MREO, and
- 10m @ 7,831 ppm TREO [0m] with 2,786ppm MREO.
These zones of enriched MREO generally occur from surface (0m) and include enriched HREOs (Tb-Dy) up to 2.0%.
Future work programs
Data validation and geologic modelling for the Agostinho and Barra do Pacu deposits (ASX Release 12 December 2024) has commenced and Resource Estimations are expected in the June quarter of 2025.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/ERKVY471
About Meteoric Resources Nl
Meteoric Resources NL (ASX:MEI) is a Perth based rare earth company that is progressing its flagship Caldeira Project in Minas Gerais, Brazil and aims to become Brazil’s next rare earth producer. The Caldeira Project is a true Ionic adsorbed Clay (IAC) deposit with above industry TREO grades and excellent metallurgical recoveries using a standard Ammonium Sulphate (AMSUL) wash flowsheet. These grade and recovery characteristics allow a simple flowsheet to be developed to produce a Mixed Rare Earth Carbonate (MREC) with an anticipated low capital and operating costs. Meteoric aims to become a significant volume, low-cost producer and is committed to supporting and integrating into western supply chain opportunities.
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