Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to provide an update on its exploration activities in Brazil by announcing its new Heavy Rare Earth Element ("HREE") ionic clays project, "Carina Module" (the "Project") located in the State of Goias, Brazil. The results of its initial auger drilling campaign[1], which was comprised of 1,693 meters of drilling within 236 drill holes, demonstrate the discovery of a new HREE deposit hosted in ionic clays. While the initial auger drilling campaign was shallow, with an average depth of 7.2 meters, it has unveiled a potential for expansion, both laterally and at depth, accompanied by the prospect of enhancing HREE grades
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Aclara Resources: Environmentally Sustainable Rare Earth Element Extraction with a Transformative Proprietary Process
Aclara Resources (TSX:ARA) reinvents mining as a climate-friendly industry, sustainably supplying minerals the world critically requires to achieve a low-carbon future. Aclara is testing its innovative, patent-pending Circular Mineral Harvesting Process through its Penco Module ionic clay asset in Chile. The Circular Mineral Harvesting process is a unique, sustainable extraction method developed in collaboration with the University of Toronto and the University of Concepción in Chile.
Aclara Resources aims to be at the forefront of reshaping the mining industry as a sustainable, vital partner in achieving the world’s net-zero emissions goals. The Climate-Smart Mining Initiative sets out guidelines to improve sustainability and minimize the environmental impact of mining operations.
Company Highlights
- Aclara Resources is an HREE-focused exploration and development company moving towards development at its ionic adsorption clay deposit in Chile.
- The company’s unique, patent-pending Circular Mineral Harvesting Process improves its future ESG rating by eliminating tailings dams, prioritizing revegetation and recirculating up to 95 percent of the water used and 99 percent of the main reagent.
- Aclara was awarded the 2022 Sustainability of the Year award for its innovative Circular Mineral Harvesting Process.
- The Penco Module, the company’s flagship asset, contains an encouraging IAC deposit and will serve as a pilot project for the new harvesting process.
- Aclara voluntarily withdrew its Environmental Impact Assessment application following feedback from authorities, allowing the company to improve and refine its environmental practices before reapplying.
- Aclara owns a large concessions land package of 451,985 hectares to allow organic growth (Penco Module situated in only 600 hectares). Exploration plan to incorporate additional modules already under way.
- An experienced management team leads the project towards becoming a pivotal turning point in environmentally sustainable REE mining.
- With $78 million in cash, Aclara’s main shareholder is leading precious metal producer Hochschild Mining, with a 57 percent stake in the company.
This Aclara Resources profile is part of a paid investor education campaign.*
Click here to connect with Aclara Resources (TSX:ARA) to receive an Investor Presentation
Aclara Announces the Discovery of a New Heavy Rare Earths Deposit Hosted in Ion-Adsorption Clays in Brazil
Highlights
- Size Potential: The mineralized area of the Carina Module spans approximately 1,400 hectares, with potential for lateral expansion. In contrast, the mineralized area of the Company's Penco Module in Chile covers approximately 140 hectares.
- Prospective Grades: The drilling results shows the potential for high Total Rare Earth Oxides[2] ("TREO") with average grades at 1,229 ppm. From an average drilling depth of 7.2 meters, 71.2% of the drillholes include 5.7 meters with TREO average grades at 1,367 ppm and Desorbable Rare Earth Oxides[3] ("DREO") at 449 ppm. A selection of high-grade drillhole results are shown in Table 1 below, with the full set of results included in Table 3 at the end of the document.
- Rich in HREE and LREE: The desorbable results demonstrate an outstanding distribution of HREE and Light Rare Earth Elements ("LREE"). In particular, 71.2% of drillholes reveal desorbable dysprosium ("Dy2O3 D") and terbium ("Tb4O7 D") grades at 18.1 ppm (≈4.1% of the rare earths basket distribution) and 3.1 ppm (≈0.7% within the rare earths basket distribution), respectively. In addition, desorbable neodymium oxide ("Nd2O3 D") and praseodymium oxide ("Pr2O3 D") grades show a summed value of 123 ppm (≈27.5% of the rare earths basket distribution).
- Metallurgical Compatibility: The metallurgy of the Penco Module, which utilizes an ammonium sulfate leaching solution, is well-suited for the Carina Module's ionic clays. 71.2% of drillholes show an average exchangeable fraction[4] for TREO of 36.6%, with the highest value recorded at 78%; total dysprosium oxide ("Dy2O3 T") exhibits an average exchangeable fraction of 46%, with the highest value at 78%, and Terbium oxide ("Tb4O7 D") exhibits an average exchangeable fraction of 52%, with a peak at 91%.
- Depth Potential: The average drill depth of the auger drilling campaign was 7.2 meters, which did not allow us to consistently reach the bottom limits of the lower Pedolith and Saprolite. However, over 70% of drillholes indicate a high anomalous exchangeable fraction in the last interval, suggesting that the deposit remains open at depth.
Table 1. Summary of Carina Module´s top 10 drillhole results (see location in Figure 2 below)
Ramon Barua, CEO, commented:
"The Carina Module's initial exploration results mark an important milestone in our journey to establish Aclara as a leading multi-country and multi-modular HREE company. The Carina Module is located in Goias, a state that promotes responsible mining endeavors and has a well-established track record and expertise in evaluating projects of this nature. The results validate our growth strategy and provide the Company with geopolitical diversification whilst we continue to advance the permitting on our Penco Module in Chile. Like the Penco Module, the Carina Module deposit shows potential to contain significant amounts of dysprosium and terbium, which are scarce and critical to establishing a western based, high performance magnet supply chain necessary for electric vehicles and wind turbines.
As we progress, the results are expected to validate the effectiveness of our in-house-developed exploration model in finding HREE-enriched ionic clay deposits. Although the initial auger drilling campaign was relatively shallow, the results are expected to support a solid maiden mineral resource. Our forward-looking plan includes conducting deeper drilling campaigns to fully assess the asset's potential. Concurrently, we will diligently work on estimating our maiden resource statement and conducting a Preliminary Economic Assessment to expedite engineering processes, with the ultimate goal of achieving production in the earliest possible timeframe."
Initial Auger Drilling Campaign Summary
A total of 1,731 meters of drilling within 238 auger drill holes was carried out from February to August 2023 as part of a scouting drilling campaign covering approximately 1,400 hectares within the area defined as the Carina Module (see Figures 2 and 3). The primary objectives of the drilling initiative were to:
- contribute to the definition of a maiden resource estimate of a size necessary to support a new production module;
- provide guidance for future reverse circulation drilling campaigns, needed to fully assess the asset's potential both laterally and at depth; and
- establish the metallurgical compatibility of the ionic clays found in the Carina Module with the metallurgical process developed for the Penco Module.
The drilling campaign used manually operated augers ideally suited for a scouting campaign requiring shallow drill depths and easy and quick access to drill sites and varying terrains. The images in Figure 1 below show an example of the auger drilling methodology performed at the Project.
Figure 1. Auger drilling campaign at Carina Module project
General Project Description
The Carina Module is located in the north-eastern part of the State of Goiás, in central Brazil. The site can be accessed via paved roads from Goiânia (the capital of the Goiás state) or Brasília (the national capital of Brazil). Both Goiânia and Brasília are major cities with modern infrastructure and services and offering commercial airports for domestic and international flights. From a district perspective, access to the site is via a 50km gravel road and the supply of electricity, water, and sanitation is provided by the Brazilian government utilities. At the site, domestic water is obtained from wells, and electrical supply can be obtained from an electrical substation located 90km from the Project.
The State of Goiás is also the home of the ion-adsorption clay project managed by Mineração Serra Verde, which has successfully obtained the required environmental and operating permits needed to construct and operate their mine and processing facility and which recently commenced commercial production. This demonstrates that the Goiás State has a positive track record in evaluating projects of this nature and could play an important role in the potential development of the Carina Module.
Figure 2 shows the Project area, covering approximately 1,400 hectares, which is characterized by a complete regolith profile (Pedolith and Saprolite horizons), as tested by the auger drilling campaign. The assay results showing the total Rare Earth Elements ("REE"), NdPr, Dy and Tb content and the exchangeable REE, NdPr, Dy and Tb fraction are displayed in Table 3. The table also displays the recoveries, corresponding drill hole depths, average composite grades (ppm), and shows the last interval of some boreholes, indicating that high REE grades remain open at depth. Figures 3 and 4 show examples of 4 drillholes with high desorbable dysprosium grades increasing at depth, the full extension of which will be tested in a future drilling campaign.
Figure 2. Carina Module map with executed auger drillholes, historic bore holes and the zone contour of the geological potential. Auger boreholes are displayed by blue dots. Some of the best drillholes, referenced in Table 1, show their regolith profile and the dysprosium exchangeable fraction curve (Dy D (ppm)) illustrated in Figure 3. The black diamond dots represent historical diamond drillholes completed by the previous owner within the Project area.
Figure 3. The Upper Pedolith, Lower Pedolith and Upper Saprolith regions and the locations of the cross sections A-A ´and B-B´ are shown in the map.
The distribution of the exchangeable REE fractions obtained from the auger drilling campaign are also plotted in the A-A´ and B-B´ cross-sections, indicating that the deposit is open to depth and laterally (some drill holes are pending analytical results). The drillholes shown in the A-A´ and B-B´ cross-sections have not intercepted the whole regolith profile. The exchangeable REE fractions show good values open to depth. A reverse circulation drilling campaign will be executed here to understand the full potential of the deposit at depth.
Figure 4. Drillholes ADPBR23011, ADPBR23094, ADPBR23103, and ADPBR23106, show Dy2O3 D (ppm; dysprosium exchangeable fraction curve) values open to depth. These drill holes have only intercepted part of the Lower Pedolith (yellow portion of the vertical bar represents the interval of the Upper Pedolith and the red portion of the vertical bar represents the interval of the Lower Pedolith).
Next Steps
The results from the initial auger campaign have provided the Company with a basis to further pursue the Project, which is expected to include the following activities:
- the issuance of a maiden mineral resource estimate during Q4 2023;
- the issuance of a NI 43-101 Preliminary Economic Assessment during Q1 2024;
- the execution of a 1,500-meters reverse circulation drill campaign to confirm the mineralized potential at depth. The campaign is expected to start at the end of October 2023 and is the initial phase of a reverse circulation campaign of 7,590 meters within 253 drillholes to convert the full potential of the deposit to an inferred mineral resource category; and
- the execution of a pilot test campaign during Q1 2024 in our fully owned pilot plant in Chile, utilizing a 25-ton sample of clay extracted from the Project area. This campaign will aim to demonstrate on a semi-industrial scale the feasibility of processing the ionic clays extracted from the Carina Module. Additionally, it will serve the purpose of producing commercial samples and further enhancing the value chain development efforts that were initiated with the Penco Module samples.
Geological Overview
The dominant lithologies of the Project are pink porphyritic monzogranite composed of quartz, oligoclase, microcline, and annite as essential minerals. Leucosienogranite is the secondary lithology, characterized by quartz, albite, and microcline. Using the historical and present auger drilling results, a thick regolith development has been interpreted ranging from 45 to 60 meters in thickness. This hypothesis will be tested with the execution of the upcoming reverse circulation drill campaign.
All the lithologies recognized in the Project have shown evidence of thick regolith profiles, secondary minerals such as the ionic clays, and the release of interesting REE fractions such Nd, Pr, Dy, and Tb. As part of the initial auger drilling campaign, the bottom limits of the lower Pedolith and Saprolite were not reached; however, the last intervals of the drill holes show exchangeable REE fractions open to depth.
Sampling and Assay Protocols
The 238 auger drill holes were sampled at intervals of 0.5 meters to 2 meters, for a total of 1,344 samples, which were sent for total REE analysis (REY T) to the ALS laboratory in Lima, Peru, and desorption (REY D) analysis to AGS laboratory in La Serena, Chile. The same sampling and analytical protocols were followed as indicated in the Company's Amended and Restated NI 43-101 Technical Report, Preliminary Economic Assessment for Penco Module Project, prepared by Ausenco Engineering Chile Limitada with an effective date of September 15, 2021. The QA/QC program indicates high levels of accuracy for Dy, Tb, Nd, Pr and Lu. Overall, the database for total grades similarly shows high accuracy. The Company contracted the services of GeoAnsata to review the data quality and QA/QC protocols.
Comparison: Carina Module vs. Penco Module
In an effort to facilitate the understanding of Carina Module results, Table 2 below has been prepared to compare the results obtained from the Carina Module drilling with those used for the Penco Module. The Penco Module information has been referenced from the Mineral Resource Update released on December 1, 2022.
Table 2. Comparison of Carina Module vs. Penco Module on selected parameters
Size: The mineralized footprint of the Carina Module covers approximately 1,400 hectares, which is an area 10 times larger than the Penco Module mineralized area.
Grades: TREO grades are lower than at the Penco Module, however, the focus needs to be set in the desorbable grades (DREO), which represent the recoverable fraction from TREO. Applying the same metallurgical process as employed by the Penco Module (ammonium sulphate leaching), the Carina Module's DREO grades are slightly lower than those found in the Penco Module mineralised area. It is important to note, however, that the Carina Module mineralization has only been tested to a depth of approximately 5.7 meters whereas the Penco Module has an average depth of approximately 24 meters. This has prompted the decision to initiate a deeper drilling campaign to determine the full potential of the Carina Module mineralisation with regards to both size and grades. As demonstrated in Figures 3 and 4, the mineralised area remains open at depth.
Metallurgy: The metallurgical process used to determine the DREO grades at the Carina Module is the same as that used on the Penco Module, which has previously been successfully validated through a semi-industrial scale pilot plant operation. This metallurgical methodology represents a proven concept with positive environmental attributes and cost-effectiveness. The Company remains optimistic that further enhancements can be made to the metallurgical process which will improve recoveries and, to this end, plans to conduct a research and development programme to optimize the metallurgical formula for the Carina Module clays.
REE content: The Carina Module shows attractive REE contents, with a NdPr to DyTb ratio of approximately 5.8. This positions the asset as a potential net contributor of heavy rare earths essential for manufacturing high-performance permanent magnets, especially those needed for electric vehicles ("EVs"). For further insights, please refer to the Rare Earth Market section below.
Barry Murphy, COO, commented:
"We're excited about the results from the initial round of drilling at the Carina Module. The deposit identified through this initial drilling looks promising in terms of its size, the amount of contained dysprosium and terbium, and how compatible the clays are to the application of our demonstrated metallurgical flowsheet. While it's still early days for the Carina Module, the Company has a detailed exploration and metallurgical development plan over the following nine months aimed at confirming its full potential."
Concessions and Land Ownership
On February 27, 2023, the Company entered into an earn-in agreement with a Brazilian mining company that provides the Company the right to acquire up to 100% of the 8,490 hectares of mining concessions over the target area of the Project.
Qualified Person
The technical information in this news release, including the information related to geology, drilling, and mineralization, has been reviewed and approved by Luiz Jorge Frutuoso Junior, current Aclara Exploration Manager, with more than 20 years of relevant experience. Mr. Frutuoso is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and Fellow of Australian Institute of Geoscientists (AIG) and is a Qualified Person (QP) as defined by National Instrument 43-101 -Standards of Disclosure for Mineral Projects.
Mr. Frutuoso confirms that he visited the project area on May 24, 2023 and was supported by the Chief of Geology at Aclara, Juan Pablo Navarro, who reviewed and analyzed the relevant project information. Carlos Santos, Database and QA/QC Geologist of the Company provided an analysis of the QA/QC work over the Carina Module.
Rare Earths Market
The global transition to clean energy has helped to drive an expanding market for REE due to their valuable properties. Dysprosium and terbium, which are HREE, and neodymium and praseodymium, which are LREE, have magnetic attributes and are critical components in the production of high-performance permanent magnets. Neodymium-based permanent magnets ("Nd magnets") offer superior performance as they are lighter and stronger compared to other type of magnets and have the ability to be engineered into any shape or size. The predominant uses of Nd magnets are in the EV industry and in wind turbines. In EVs, permanent magnets result in increased range autonomy, better use of space, lower weight and lower battery costs, the latter as a result of reduced lithium, cobalt and nickel content. Neodymium permanent magnet motors offer the best performance and optimization potential in electric motors, with approximately 90% of EV models using them as part of their drivetrain.
Incorporation of dysprosium and terbium into neodymium magnets delivers enhanced operating performance by enabling them to operate at higher temperatures (magnets with HREE can operate up to 240 °C as compared to approximately 80 °C for magnets without HREE), without losing their magnetic properties (high coercivity). An average Nd magnet contains approximately 30% NdPr, 3% DyTb, 1% Boron ("B") and 66% Iron ("Fe"). The desired ratio between NdPr and DyTb is 10:1, however most deposits in the world offer ratios that are over 100:1.
Supply of HREE is currently dominated by China, which in 2022, was estimated by the U.S. Geological Survey to contribute 70% of global TREO production. Furthermore, it is estimated that China imported 100% of REO produced from Myanmar's ionic clay production facilities, increasing their supply control of dysprosium and terbium to approximately 90%. The remaining 30% of global TREO production comes primarily from two operations, one of which is located in the United States and the other one in Australia, which mainly produce LREE. In May 2023, the U.S. Department of Energy evidenced this by established dysprosium as the most important element for the energy transition, and suggested securing its sourcing is at its highest risk.
Figure 5. US Department of Energy, Critical Materials Assessment (May 2023)
About Aclara
Aclara Resources Inc. (TSX: ARA) is a development-stage company that focuses on heavy rare earth mineral resources hosted in Ion-Adsorption Clay deposits. Its primary project is known as the Penco Module and is located in the BioBio Region of southern Chile. The Company is also evaluating a second module, the Carina Module, located in the State of Goiás in central Brazil.
Presently, Aclara has a strong focus on the development, construction, and future operation of the Penco Module, with the primary objective of establishing a processing plant designed to produce heavy rare earths concentrate.
Aclara's extraction process offers several environmentally attractive features. It does not involve blasting, crushing, or milling. Additionally, it does not generate tailings, eliminating the need for a tailings storage facility. The Company utilizes 100% recycled water and minimizes water consumption through high levels of water recirculation. The ionic clay feedstock is amenable to leaching with a fertilizer, and harmful radionuclides are not produced.
Simultaneously, alongside the development of the Penco Module, the Company intends to identify and evaluate further opportunities, such as the Carina Module, for increasing production of heavy rare earth elements. This will involve intensive greenfield exploration programs and the development of additional project "modules" within the Company's concessions in Brazil, Chile and Peru.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to: mineral continuity, grade, and upside at the Penco Module and Carina Module, the Company's exploration plan and activities in Brazil and the expectations of the Company's management as to the results of such exploration works and drilling activities; timing, cost and scope in respect of the exploration activities in Brazil, the issuance of a Mineral Resource Estimate and Preliminary Economic Assessment relating to the Carina Module, , and the contemplated development of greenfield targets and expected reduction in permitting risk. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to risks related to operating in a foreign jurisdiction, including political and economic problems in Chile and Brazil; risks related to changes to mining laws and regulations and the termination or non-renewal of mining rights by governmental authorities; risks related to failure to comply with the law or obtain necessary permits and licenses or renew them; compliance with environmental regulations can be costly; actual production, capital and operating costs may be different than those anticipated; the Company may be not able to successfully complete the development, construction and start-up of mines and new development projects; risks related to mining operations; and dependence on the Penco Module and/or the Carina Module. Aclara cautions that the foregoing list of factors is not exhaustive. For a detailed discussion of the foregoing factors, among others, please refer to the risk factors discussed under "Risk Factors" in the Company's annual information form dated as of March 28, 2023 filed on the Company's SEDAR+ profile.Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Bonzi Yokomizo Baptista
Brazil General Manager
investorrelations@aclara-re.com
Aclara Resources has engaged Reflex Media to provide marketing services in connection with a digital marketing campaign aimed at increasing the knowledge and awareness of the Company to new audiences.
Table 3. Complete list of drillholes from the auger drilling campaign at Carina Module (February - August 2023)
[1] Auger Drilling Campaign; Results consider Total Rare Earths Oxides ("TREO") of 100% of the auger drillholes of the drilling campaign and 81.8% of desorbable results, with the remaining18.2% pending the final assay results.
[2] TREO: Considers all rare earths elements represented in oxide form (Lanthanum - La2O3, Cerium - Ce2O3, Praseodymium - Pr6O11, Neodymium - Nd2O3, Samarium - Sm2O3, Europium - Eu2O3, Gadolinium - Gd2O3, Terbium - Tb4O7, Dysprosium - Dy2O3, Holmium - Ho2O3, Erbium - Er2O3, Thulium - Tm2O3, Ytterbium - Yb2O3, Lutetium - Lu2O3).
[3] DREO: Desorbable Rare Earth Oxide is the recoverable fraction of the total contained rare earths ( TREO) using the Penco Module´s ammonium sulfate based metallurgical process.
[4] Exchangeable fraction: The exchangeable fraction refers to the percentage (%) of recoverable grade from TREO using the Penco Module´s ammonium sulfate based metallurgical process.
SOURCE:Aclara Resources Inc.
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Aclara Provides Update on Permitting and Development Strategy for the Penco Module Project in Chile
Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) provides an update on its Chilean Penco Module (the "Project") permitting and development strategy following the previously announced receipt of notice from the Environmental Service Assessment ("SEA") of its decision to terminate the review of the Company´s application for an environmental impact assessment ("EIA") of the Project based on the identification of six previously undisclosed "naranjillo" trees, considered "vulnerable species", within the Project area. Five of these naranjillo trees were found near an existing access road that would require modification and one naranjillo tree was found in a local "native forest" within the deposition zone known as Jupiter
EIA Application
Aclara has revised its permitting strategy with the primary aim of addressing concerns associated with native forests whilst expecting to minimize any substantial impact on the Project's development timeline. The revised strategy will also afford the Company with the opportunity to integrate technical enhancements into the Project. To effectively implement the revised strategy, the Company is proposing to undertake the preparation and submission of two EIAs, which will collectively cover the full life of mine of the Project. Chilean regulations allow for the submission of a project to SEA in two or more stages provided that they are at the same regulatory review level, as would be the case in respect of the two EIAs.
The Company is currently preparing an initial EIA ("EIA 1"), which will cover approximately the first five years of life of mine of the Project and will encompass three extraction zones (Victoria Norte, Luna and Maite), one deposition zone (Neptuno) and the production facilities of the Project. The production of these three zones will be operationally balanced with the deposition zone and EIA 1 is expected to cover the payback period of the initial capex of the Project. EIA 1 aims to largely reduce the Project´s exposure to native forests as well as address the observations received from the evaluation services. The Company expects to file EIA 1 during Q1 2024.
The second EIA ("EIA 2") will be prepared when the Company is ready to expand its production at the Project to zones not covered by EIA 1 (namely, Victoria Sur, Alexandra Oriente, and Alexandra Poniente) based on the availability of new deposition zones. The Company will present a permit application to reactivate the Jupiter deposition zone as well as evaluate new deposition zones. Furthermore, EIA 2 will consider an increase to the production plant's throughput capacity. Such an increase will be studied at a conceptual level during 2024.
Technical Development
In light of the revised permitting strategy, the Company has decided to delay the completion of its Feasibility Study and use the additional time to further refine the engineering aspects of the Project by incorporating enhancements that are expected to result in reduced capital and operating costs and improved operational efficiency. These enhancements are the direct result of insights gained from recent piloting work and ongoing research and development initiatives.
Aclara's CEO, Ramon Barua, commented: "Our revised strategy for the Project reflects our commitment to address the concerns raised by the Chilean environmental evaluation services, even if it would result in a staged approach to the development of the Project. Given the limitations imposed by the naranjillo tree found in the Jupiter deposition zone, the Company will explore alternatives in order to find the best solution for deposition zones. We are optimistic about the potential of achieving success in terms of one or more of such alternatives in order to minimize the environmental impact while maximizing the value of the Project."
Updated Project Schedule
As a result of its updated permitting and development strategy, the Company has also updated the proposed milestones and/or targets relating to the Project, which are as presented below:
- EIA 1 Filing: Q1 2024
- Anticipated EIA 1 Approval: Q4 2025
- Feasibility Study Filing: Q3 2025
- Construction: Q1 2026
- Production: Q2 2027
About Aclara
Aclara Resources Inc. (TSX: ARA) is a development-stage company that focuses on heavy rare earth mineral resources. Its primary project is located in the Biobio Region of southern Chile. The company is dedicated to developing its mineral resources through a project known as the Penco Module. This module encompasses an area of approximately 600 hectares and contains ionic clays that are rich in heavy rare earth elements.
Currently, Aclara Resources is primarily focused on the development, construction, and future operation of the Penco Module. The goal is to establish a processing plant that will produce a heavy rare earth concentrate. This concentrate will be generated by processing clays obtained from nearby deposits.
Aclara's extraction process offers several environmentally attractive features. It does not involve blasting, crushing, or milling. Additionally, it does not generate tailings, eliminating the need for a tailings storage facility. The company utilizes 100% recycled water and minimizes water consumption through high levels of water recirculation. The ionic clay feedstock is amenable to leaching with a fertilizer, and harmful radionuclides are not produced.
Simultaneously, alongside the development of the Penco Module, the company intends to identify further opportunities for increasing rare earth element production. This will involve intensive greenfield exploration programs and the development of additional project "modules" within the company's concessions.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to the permitting process, the revised EIA application, including the timing and preparation of EIA1 and EIA2, on-going and future discussions and consultations with relevant authorities and advisors, the completion of, and impact of the delay of, a Feasibility Study on the Penco Module, plans and strategies, and key milestones and targets relating to the development and construction of, or production at, the Penco Module. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to risks related to operating in a foreign jurisdiction, including political and economic problems in Chile; risks related to changes to mining laws and regulations and the termination or non-renewal of mining rights by governmental authorities; risks related to failure to comply with the law or obtain necessary permits and licences or renew them; compliance with environmental regulations can be costly; actual production, capital and operating costs may be different than those anticipated; the Company may be not able to successfully complete the development, construction and start-up of mines and new development projects; risks related to mining operations; and dependence on the Penco Module. Aclara cautions that the foregoing list of factors is not exhaustive. For a detailed discussion of the foregoing factors, among others, please refer to the risk factors discussed under "Risk Factors"in the Company's annual information form dated as of March 28, 2023 filed on the Company's SEDAR profile. Actual results and timing could differ materially from those projected herein.Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Ramon Barua
Chief Executive Officer
investorrelations@aclara-re.com
SOURCE:Aclara Resources Inc.
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Aclara Successfully Completes Semi-Industrial Scale Piloting for the Penco Module
Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce that it has successfully completed the piloting operation for the Penco Module project. The Company processed a total of 120 tonnes of ionic clays and produced approximately 107 kilograms of wet high purity Heavy Rare Earth Elements ("HREE") concentrate. The technical results will be published during the fourth quarter ("Q4") of 2023
Ramón Barúa (Aclara's Chief Executive Officer) commented:
"The continuous operation of the pilot plant has been a great success for the Company. Not only has it enabled us to attain technical validation for our groundbreaking Circular Mineral Harvesting process within the Penco Module, but it has also emerged as our primary means of showcasing the exceptional sustainability aspects of our project to our local community, authorities, investors, and other stakeholders that are part of our story. The piloting operation has also been a pivotal element of our commercial strategy, resulting in the production of representative product samples that we are currently dispatching to more than ten separation companies across the United States, Europe, and Asia."
Pilot Plant Operation
The pilot plant successfully adhered to the design parameters for an uninterrupted three-month period from June to August 2023.
- Operation throughput reached 90 kg per hour and operated continuously 24 hours per day
- A total of 120 tonnes were processed during the 3-month period. 80 tonnes of ionic clays were extracted from the Victoria Sur orebody and 40 tonnes from Victoria Norte
- A total of 107 kilograms of high-purity HREE concentrate was produced
- High-purity HREE concentrate samples are currently being dispatched to more than ten separation firms located across the United States, Europe, and Asia. This initiative aims to validate product specifications and assess its suitability for their respective separation technologies.
Throughout the operation, we had the privilege of hosting over two hundred visitors, with more than half of them being community leaders, and the remainder comprising investors, authorities, academic institutions, private enterprises, media representatives, and business associations. The pilot operation served as an illuminating showcase of the primary sustainability aspects inherent in our Circular Mineral Harvesting process.
Figure 1 - Circular Mineral Harvesting Sustainability Attributes
Figure 2 - Extraction of the Ionic Clays
Figure 3 - Pilot Plant Operation
Figure 4 - High-purity HREE Concentrate
For additional testimonies about the pilot plant operation please visit the links below:
- Visitors: https://www.youtube.com/watch?v=l8RRuQo0_Ig
- Directors: https://www.youtube.com/watch?v=Ogja9FDP1AQ
About Aclara
Aclara Resources Inc. (TSX: ARA) is a development-stage company that focuses on heavy rare earth mineral resources. Its primary project is located in the BioBio Region of southern Chile. The company is dedicated to developing its mineral resources through a project known as the Penco Module. This module encompasses an area of approximately 600 hectares and contains ionic clays that are rich in heavy rare earth elements.
Currently, Aclara Resources is primarily focused on the development, construction, and future operation of the Penco Module. The goal is to establish a processing plant that will produce a heavy rare earth concentrate. This concentrate will be generated by processing clays obtained from nearby deposits.
Aclara's extraction process offers several environmentally attractive features. It does not involve blasting, crushing, or milling. Additionally, it does not generate tailings, eliminating the need for a tailings storage facility. The company utilizes 100% recycled water and minimizes water consumption through high levels of water recirculation. The ionic clay feedstock is amenable to leaching with a fertilizer, and harmful radionuclides are not produced.
Simultaneously, alongside the development of the Penco Module, the company intends to identify further opportunities for increasing rare earth element production. This will involve intensive greenfield exploration programs and the development of additional project "modules" within the company's concessions.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements withregard to: the expectations of the Company's management as to the operation of the pilot plant and expected success resulting therefrom. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 28, 2023 filed on the Company's SEDAR profile. Actual results, timing, performance, achievements or future events or developments could differ materially from those expressed or implied herein.Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expresslyrequired under applicable securities laws.
For further information, please contact:
Ramon Barua
Chief Executive Officer
investorrelations@aclara-re.com
SOURCE: Aclara Resources Inc.
View source version on accesswire.com:
https://www.accesswire.com/780901/aclara-successfully-completes-semi-industrial-scale-piloting-for-the-penco-module
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Aclara Appoints General Manager for Brazil
Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce the appointment of Bonzi Yokomizo as General Manager of the wholly owned Brazilian subsidiary ("Aclara Resources Mineracao Ltda"), effective Aug 10, 2023
"We are delighted to welcome Bonzi Yokomizo as our new General Manager for Brazil," said Ramón Barúa, CEO and Director of Aclara. " With over 30 years leading global mining projects, Bonzi's expertise is a cornerstone for Aclara. His exceptional understanding of Greenfield and Brownfield projects, coupled with his recent achievement in commissioning Brazil's inaugural ionic clay heavy rare earths mine, will play a pivotal role in driving the success of Aclara's projects in Brazil. Bonzi's remarkable skill in building and leading diverse teams, combined with his extensive in-country experience, brings a dynamic synergy that fosters innovation, drives operational excellence and ensures a robust foundation for Aclara´s strategic growth in Brazil and beyond."
Mr. Yokomizo joins Aclara with a long history leading large-scale mining projects across the globe, including the Americas (Brazil, Colombia, Argentina, Canada), Africa (Mozambique and Malawi), and the UK. His most recent role was Chief Projects Officer at Serra Verde, an ionic clays heavy rare earths mining project located in the State of Goias, Brazil, where he was instrumental in driving engineering for the project implementation, construction, and commissioning.
Prior to his tenure at Serra Verde, Bonzi held senior leadership positions at various world-class mining companies such as Anglo Gold Ashanti, Yamana Gold, Vale, and Votorantim. Notably, he has demonstrated prowess in overseeing complex projects, such as the Jack Pine oil sands project expansion with an estimated capex of $12.5 billion, Rio Colorado potash project with an estimated capex of $9.0 billion, Coal project with an estimated capex of $5.0 billion, and the Montes Claros de Goias Nickel project with an estimated capex of $1.5 billion, among others.
Mr. Yokomizo has consistently demonstrated the ability to lead multidisciplinary teams, navigate complex challenges, and deliver projects on time and within budget. His strategic vision, combined with a hands-on approach, has positioned him as a respected leader in the mining industry.
As the Company continues to expand its operations and pursue new avenues of growth, Mr. Yokomizos's appointment signifies a strategic move to further enhance the company's project management capabilities to become a strategic leader in the heavy rare earths sector.
About Aclara
Aclara Resources Inc. (TSX:ARA) is a development-stage company that focuses on heavy rare earth mineral resources. Its primary project is located in the BioBio Region of southern Chile. The company is dedicated to developing its mineral resources through a project known as the Penco Module. This module encompasses an area of approximately 600 hectares and contains ionic clays that are rich in heavy rare earth elements.
Currently, Aclara Resources is primarily focused on the development, construction, and future operation of the Penco Module. The goal is to establish a processing plant that will produce a heavy rare earth concentrate. This concentrate will be generated by processing clays obtained from nearby deposits.
Aclara's extraction process offers several environmentally attractive features. It does not involve blasting, crushing, or milling. Additionally, it does not generate tailings, eliminating the need for a tailings storage facility. The company utilizes 100% recycled water and minimizes water consumption through high levels of water recirculation. The ionic clay feedstock is amenable to leaching with a fertilizer, and harmful radionuclides are not produced. 3
Simultaneously, alongside the development of the Penco Module, the company intends to identify further opportunities for increasing rare earth element production. This will involve intensive greenfield exploration programs and the development of additional project "modules" within the company's concessions.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to, among other things, management's expectations as to the accretive value to the Company from the appointment of Mr. Yokomizo as General Manager for Brazil. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 28, 2023 filed on the Company's SEDAR profile. Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Ramon Barúa
Chief Executive Officer
investorrelations@aclara-re.com
SOURCE:Aclara Resources Inc.
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https://www.accesswire.com/773880/Aclara-Appoints-General-Manager-for-Brazil
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Aclara Provides New EIA Update for The Penco Module
Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) announces that it has received notice from the Environmental Service Assessment ("SEA") in Chile of its decision to terminate the review of the Company's application for an environmental impact assessment of the Penco Module ("Project"), which was submitted by the Company on April 28, 2023 ("New EIA
The termination resulted from a request submitted by the National Forest Corporation (CONAF) to SEA to terminate the New EIA application process based on the findings of CONAF that there are six (6) undisclosed citronella mucronate, popularly known as "naranjillo" trees, located in the area of the Project. Naranjillo trees are considered "vulnerable species". Specifically, the New EIA did not include information relating to the naranjillo trees in question of which five (5) were found near the location of an existing access road that would require modification, and another was found within a local "native forest", in the area of the Project. Given the presence of such vulnerable species within the native forest, the forest would be considered a "preservation forest", restricting such trees from being cut down and thus requiring a change to the contemplated disposal area of the project. CONAF, which is a Chilean State-owned organization that is overseen and funded through the Ministry of Agriculture of Chile, contributes to the administration and development of the country's forestry sector.
The request by CONAF is part of the first round of observations to be carried out by evaluation services during an approximately 30 business day period following publication in the media in Chile on May 15, 2023 of an extract of the New EIA application. As previously disclosed, in the case additional relevant or essential information is solicited for the evaluation, the New EIA application would need to be withdrawn to address the additional information. According to SEA, the non-disclosure of the information relating to the six (6) naranjillo trees results in the New EIA being incomplete, requiring the termination of the New EIA from its current assessment process.
The Company, together with its technical consultants and other advisors, will work together with the relevant authorities with a view to addressing the initial observations at this early stage of the New EIA process in a comprehensive manner.
Ramon Barua, Aclara's CEO, commented: "We are surprised and disappointed by the decision of SEA to terminate the review process at this early stage. Our Project proposes an innovative way for extracting minerals, assuming a high level of responsibility with the environment and has been developing a very active engagement with the local community. We believe that the initial observations raised by CONAF can be addressed by our team, who are already working to make the adequate modifications and to refile a revised application for an environment impact assessment as soon as possible."
The Company estimates that there are more than half a million trees in the area of the Project, the vast majority being artificially grown pine and eucalyptus, which are harvested regularly by the forestry industry. The New EIA had identified native tree species (including 470 queule, 46 pitao, and 90 naranjillo itrees) within the preservation forests in the area of the Project and the Company had committed to protect each of the species in question. The naranjillo trees, as opposed to queules, can be cut down provided that they are located in areas covered mainly by pine and eucalyptus, however, such trees cannot be cut down if they are within a native forest that is considered to be a preservation forest.
The Company will provide additional clarity on the timing of the revised application following additional consultations with relevant authorities and its advisors. While there can be no assurance regarding the outcome of the environmental impact assessment process, the Company believes that amendments can be made to address the issues raised.
As part of the Project's overall evaluation process, the Company has received various feedback and observations relating to the Project from a number of affected and interested parties in Chile. The Company believes that all inputs and observations presented to date, including those by CONAF, can be addressed by Aclara and do not constitute fatal flaws to securing a successful path forward for the development of the Project.
Ramon Barua added: "At Aclara, we continue to believe that our Project is a significant contribution to Penco, the region, Chile and our planet. The area where the Project is located is highly impacted by the forestry industry and a sanitary landfill. We have presented a unique process that does not require explosives, crushing or milling. We would only be using recycled water. We do not generate waste or tailings. We had made strong voluntary commitments to revegetate all impacted areas through the creation of new native forests (including by planting more than 200,000 trees), build a park for Penco and run a reproduction center for local deer. In addition, we have completed several initiatives to ensure the proper communication of our project at all levels in Chile. We have visited close to 8,000 homes in Penco twice, in December 2022 and June 2023. We have presented at the Mining Commission of the Deputies and the Mining Commission of the Senate, as well as met with several ministries over the past months. We have also offered to meet with the Municipality of Penco and Regional Counsel, each of whom have regrettably not accepted our offers. Based on the foregoing, we believe that our Project has the support of several parties within Chile and we are motivated to continue pursuing the development of our Project."
About Aclara
Aclara Resources Inc. (TSX: ARA) is a development-stage company that focuses on heavy rare earth mineral resources. Its primary project is located in the BioBio Region of southern Chile. The company is dedicated to developing its mineral resources through a project known as the Penco Module. This module encompasses an area of approximately 600 hectares and contains ionic clays that are rich in heavy rare earth elements.
Currently, Aclara Resources is primarily focused on the development, construction, and future operation of the Penco Module. The goal is to establish a processing plant that will produce a heavy rare earth concentrate. This concentrate will be generated by processing clays obtained from nearby deposits.
Aclara's extraction process offers several environmentally attractive features. It does not involve blasting, crushing, or milling. Additionally, it does not generate tailings, eliminating the need for a tailings storage facility. The company utilizes 100% recycled water and minimizes water consumption through high levels of water recirculation. The ionic clay feedstock is amenable to leaching with a fertilizer, and harmful radionuclides are not produced.
Simultaneously, alongside the development of the Penco Module, the company intends to identify further opportunities for increasing rare earth element production. This will involve intensive greenfield exploration programs and the development of additional project "modules" within the company's concessions.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to: the New EIA and the expectations of the Company's management as to the timing, procedural steps required, scope and substance, and outcome in respect of such review, and any resulting discussions and consultations with relevant authorities, advisors, and the community; estimates, projections and objectives in respect of the Project; and future plans, commitments and strategies of the Company. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 28, 2023 filed on the Company's SEDAR profile. Actual results, timing, performance, achievements or future events or developments could differ materially from those expressed or implied herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Ramon Barua
Chief Executive Officer
investorrelations@aclara-re.com
SOURCE: Aclara Resources Inc.
View source version on accesswire.com:
https://www.accesswire.com/765520/Aclara-Provides-New-EIA-Update-for-The-Penco-Module
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Appia’s Uranium, Rare Earths Assets Make for Compelling Investment Option, President Says
Appia Rare Earths and Uranium (CSE:API,OTCQX:APAAF) President Stephen Burega said his company is a compelling investment opportunity given the progress made with its PCH rare earths project in Brazil and uranium assets in Saskatchewan.
Appia recently announced a maiden resource estimate for PCH, reporting indicated resources of 6.6 million metric tons (MT) grading 2,513 parts per million total rare earth oxides, and inferred resources of 46.2 million MT at 2,888 parts per million.
“The next step (for the PCH project) would be to further the overall size of the existing zones that we've identified, the Buriti zone and the Target IV. There's expansion potential all around the area. Then we'll be targeting additional areas outside of that core and drill-testing new targets across the entirety of the property. So it's going to be a busy 2024 and 2025,” Burega said.
He added that the company is moving forward at its uranium assets with a diamond drill program planned for the uranium-bearing Loranger property in Northern Saskatchewan. In January, the company announced initial geochemical assay results derived from a 2023 drilling program conducted on the Magnet Ridge zone at its Alces Lake project in Northern Saskatchewan.
“I think the compelling argument is that not only do we have hard-rock monazite potential in Northern Saskatchewan with extraordinarily high-grade material … We are also very lucky to have an ionic adsorption clay asset that is a relatively simple process to extract — we're looking at the top 25 meters, essentially,” Burega said.
Watch the full interview with Appia Rare Earths and Uranium President Stephen Burega above.
Disclaimer: This interview is sponsored by Appia Rare Earths and Uranium (CSE:API,OTCQX:APAAF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Appia Rare Earths and Uranium in order to help investors learn more about the company. Appia Rare Earths and Uranium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Appia Rare Earths and Uranium and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Eclipse Metals
Overview
Eclipse Metals Ltd. (ASX:EPM) is an exploration and mining development company focusing on multi-commodity assets that support the world’s decarbonization goals. The company has a robust portfolio of projects in Australia and Greenland targeting crucial minerals, including rare earth elements (REEs), lithium, zinc, manganese, high-purity quartz, gold, copper, vanadium and uranium.
Governments worldwide have set ambitious goals to reach net-zero emissions in the coming decades, highlighting miners that supply the critical minerals required for low-carbon technologies, which is expected to consume a growing percentage of the world’s total mineral production, with vital elements growing by over 100 percent by 2050, according to the World Bank.Greenland REE deposits
Eclipse Metal’s flagship asset in Greenland, the Ivigtût project, contains known REE mineralization, industrial minerals and lithium potential.
Multiple academic research and significant rare earths results obtained by Eclipse Metals to date imply that the Grønnedal prospect (located 10 kilometers northeast of Ivigtût) has the potential to contain significant rare earth mineralization. This presence is consistent with other rare earth-bearing carbonatite-syenite intrusive complexes and has elevated ratios in praseodymium (Pr), neodymium (Nd), with enriched in dysprosium (Dy),
zirconium (Zr) and niobium (Nb) — elements that are crucial in the global journey toward a low-carbon, net-zero-emission future. As a mining-friendly jurisdiction, Greenland has an established infrastructure, reducing future development costs.
Additionally, the Ivigtût project contains a high-grade quartz body, a required material for high-end electronics and semiconductors. Eclipse Metals has begun its initial exploration drilling campaign and developed the project’s environmental impact assessment.
Eclipse Metals’ portfolio also includes Australian assets targeting uranium, copper and manganese as part of the company’s mission to support decarbonization. Its Northern Territory and Queensland assets allow the company to capitalize on existing infrastructure and mining-friendly local governments. The company’s uranium assets are in close proximity to other world-class deposits, allowing Eclipse to benefit from existing infrastructure and community support.
A sound management team with decades of experience in the natural resource industry leads Eclipse Metals. The team’s breadth of expertise includes mineral exploration, geology, corporate administration, metallurgy and international trade, creating confidence in the company’s ability to capitalize on its assets.
Company Highlights
- Eclipse Metals is an exploration and mining development company with assets in Greenland and Australia, supporting the world’s decarbonization goals.
- The company’s flagship Ivigtût multi-commodity asset in Greenland exposes the company to REEs, high-purity quartz, and other industrial metals required for emerging technologies.
- Greenland is a mining-friendly yet underexplored jurisdiction, creating tremendous opportunities for the company.
- Eclipse Metals’ portfolio of assets in Australia includes projects in Queensland and the Northern Territory in world-class mining jurisdictions.
- The company has begun its initial exploratory drilling campaign in Greenland and is progressing on the project’s environmental impact assessment for the mining license.
- An experienced management team leads Eclipse Metals with decades of experience in the mining industry.
Key Projects
Ivigtût Multi-commodity Project
The flagship Ivigtût project has a 120-year mining history, having produced 3.8 million tons of cryolite to support aluminum production. The settlement of Kangilinnguit (Grønnedal) approximately 5.5 kilometers to the northeast of Ivigtut provides access to an existing port. In addition, the project is close to existing infrastructure, including a power station, wharf and heliport, which minimizes future development costs.
Project Highlights:
- A Multi-commodity Project: The asset is known to host REEs and undiscovered polymetallic potential. In addition to REEs, the project contains other minerals, which include:
- Cryolite
- Fluorite
- High silica-grade quartz (99.9 percent SiO2)
- Zinc
- Iron
- Lithium
- Rich Exploration Potential: The asset’s area includes a source of carbonatite minerals and REEs, with deposits occurring in the project area that offers additional exploration opportunities to expand known resources. Eclipse Metals is presently strategically exploring the asset, with a drill program, planned pit dewatering, and sampling of 19,000 meters of historical drill cores.
- High-grade Quartz Opportunity: High-grade quartz is necessary to produce photovoltaic products, such as semiconductors and other high-end electronics. The asset contains over 5 million tonnes of quartz mineralization with up to 99.99 percent silica grade.
The company completed scoping phase reports of social and environmental impact assessments for its Ivigtût project with the assistance of Danish consultancy, COWI. The reports are integral to applying to Greenland’s Mineral Licence and Safety Authority for a mining license.
Eclipse also completed its maiden percussion drilling and trench sampling program at the Ivigtût mine site and Grønnedal carbonatite complex.MEL2007-45 Location map and exploration drill targets
Northern Territory Uranium projects
Liverpool Uranium Project
The Liverpool project comprises five exploration licenses totalling 1,464 square kilometers in the Northern Territory, a proven uranium district. The advanced exploration target contains multiple drill-ready targets.
Project Highlights:
- Nearby World-class Deposits: The Devil’s Elbow prospect within the asset is near several world-class deposits, including:
- Ranger 1 No 1: 0.34 percent uranium
- Ranger 1 No 3: 0.17 percent uranium
- Nabarlek: 1.95 percent uranium
- Jabiluka 1: 0.25 percent uranium
Encouraging Sample Results:
- Samples from shallow trenching yielded high-grade uranium assays including 3.2 percent uranium oxide, 3.7 percent uranium oxide, 4.40 percent uranium oxide, and 5.8 percent uranium oxide, with 38.1 g/t gold and 28.02 g/t palladium, related to fractures within altered amygdaloidal basalt of the Nungbalgarri Volcanics.
- Samples from the radioactive volcanic boulders returned assays of up to 1,720 ppm uranium (0.17 percent uranium), 1,210 ppm uranium (0.12 percent uranium) and a peak value of 3,300 ppm uranium (0.33 percent uranium).
Ngalia Basin Uranium Project
As Eclipse Metals’ second Northern Territory project, the Ngalia Basin project comprises eight exploration licenses totaling 7,280 square kilometers.
Project Highlights:
- Drill-ready Targets Identified: The company has identified two high-priority drill-ready targets within granted tenements.
- Benefitting from Previous Explorers: The asset’s previous explorers discovered anomalous uranium values, streamlining Eclipse’s exploration program and creating a clear progression path.
Mary Valley Manganese Project
The company’s Queensland project covers 35 square kilometers and is 16 kilometers southwest of Gympie Township. The Mary Valley hosts historic mines, such as Amamoor, which produced roughly 20,000 tonnes at 51 percent manganese. In addition, existing road and power infrastructure significantly reduce future development costs.
Project Highlights:
- Promising Historical Results: Drill results from the previous explorer include:
- 2018 drilling: 3.2 meters at 59.8 percent manganese dioxide
- 2020 shallow drilling: 3.5 meters at 24.9 percent manganese dioxide from the surface
- High-grade Manganese Potential: As an essential component in lithium-ion batteries, high-grade manganese is growing in demand. The Mary Valley deposit may support mill feed for a beneficiation plant capable of producing marketable, high-grade manganese.
- Encouraging Intersection: Previous diamond drill holes produced encouraging results, including:
- ADD 006 – 8.8 to 12 meters manganese oxide = 59.8 percent
- ADD 007 – 14.9 to 17.3 meters manganese oxide = 26.3 percent
- ADD 010 – 0.0 to 5.0 meters manganese oxide = 16.8 percent
Rock Hill Copper Project
The Northern Territory Rock Hill copper project contains encouraging copper-silver mineralization. Eclipse Metals plans to conduct airborne electromagnetic surveys and reverse circulation drilling over the mineralized zones, followed by diamond drilling. The potential mineralized corridor extends for over 10 kilometers.
Project Highlights:
- Promising Historical Results: Historical results indicate upside potential including:
- 3.0 meters at 1,420 g/t silver from 6.1 meters
- 11.6 meters at 0.43 percent copper from 58.2 meters
- 0.3 meters at 4.6 percent copper and 10 g/t silver
- 0.3 meters at 10.20 percent copper, 27 g/t silver
Management Team
Carl Popal - Executive Chairman
Carl Popal has more than 20 years of entrepreneurial experience covering a diverse range of commodities trading, corporate management, minerals exploration, asset management and construction, to name some. Previously, Popal was chief executive director of ASX-listed company Paynes Find Gold Ltd. He is the managing director of Ghan Resources Pty Ltd and Popal Enterprise Pty Ltd. Since 2001, Popal has managed several entities conducting international trading. He has more than 12 years’ experience in property development and has managed various commercial dealings within a network of companies around the world including in India, China and Malaysia.
Rodney Dale - Non-executive Director
Rodney Dale holds a Fellowship Diploma in geology from the Royal Melbourne Institute of Technology and is a Fellow of the Australasian Institute of Mining and Metallurgy. His experience covers more than 60 years, working in many parts of Australia, Indonesia and Africa on gold, tin, wolfram, base metals and industrial mineral exploration and mining, including trial mining and export of high-grade quartz. He has worked in and managed small gold mines in Western Australia. Since 1970, Dale has been an independent geological consultant with three periods as a director of ASX-listed companies. More recently, he has been involved with the assessment of iron ore projects in Australia, South America, India, China and Africa.
Oliver Kreuzer - Non-executive Director
Dr. Oliver Kreuzer is a registered professional geoscientist and company director with a broad skill set in structural, generative and corporate geology honed within more than a 20-year career in applied research and mineral exploration across a wide range of gold, base, energy and battery metals projects worldwide. His generative work laid the foundations for several new company floats, project acquisitions and new discoveries. Kreuzer is currently a non-executive director of ASX-listed exploration companies 92 Energy Ltd and NickelX Ltd.
Ibrar Idrees – Non-executive Director
Ibrar Idrees has a Bachelor of Commerce (majoring in Accounting and Finance) from Deakin University and has over 10 years of professional and corporate experience gained in a diverse range of industries in Australia and South Asia. Idrees, a practicing accountant, has worked in a variety of business development and financial positions in small and large companies.
Sebastian Andre - Company Secretary
Sebastian Andre is a chartered secretary with over 14 years of experience in corporate advisory, governance, compliance, and risk services. Andre has previously acted as an adviser at the ASX and has a thorough understanding of the ASX listing rules. He holds qualifications in accounting, finance and corporate governance and is a member of the Governance Institute of Australia
$1.118m Placement and Launch of Share Purchase Plan to Fund Completion of HPA Pilot Plant
ChemX Materials Limited (ASX:CMX) (ChemX or the Company), an Australian based high purity critical materials developer, is pleased to advise it has received firm commitments under the Placement from new and existing professional, sophisticated investors to subscribe for 21,937,508 fully paid ordinary shares (Shares) at an issue price of $0.048 per Share to raise approximately$1,053,000.
Highlights
- $1,118,000 raised pursuant to placement to professional, sophisticated investors (“Placement”)
- Launch of Share Purchase Plan (“SPP”) to raise up to a further $500,000.
- Funds raised from Placement and SPP to fund completion of HPA Pilot Plant in O’Connor in Perth, Western Australia.
- Participants of the Placement and SPP to receive one free attaching option for every two shares subscribed for and issued with an exercise price of $0.09 on or before three years from the date of issue (“Attaching Options”) subject to shareholder approval.
- High Purity Alumina (“HPA”) Pilot Plant reaches 80% construction milestone, enabling early-stage commissioning to commence in-line with its original project timeline to deliver first 4N HPA material in Q2 CY2024.
Funds raised under the Placement will be applied towards completion of the HPA Pilot Plant, working capital and costs of the offer.
ChemX has achieved a number of important milestones within its HPA Pilot Plant construction enabling early-stage commissioning activities to commence in the O’Connor facility in Perth, Western Australia.
Over 80% of the critical equipment for the Pilot Plant has been received and the ChemX team is undertaking individual stage early-commissioning activities in line with its original project timeline to deliver first 4N HPA material in Q2 CY2024.
ChemX is well positioned to take advantage of expected increased demand for HPA across electric vehicle battery separators and LED, Synthetic sapphire and semiconductor markets.
The Shares issued under the Placement (other than those to be issued to Directors) will be issued pursuant to the Company’s available placement capacity under ASX Listing Rule 7.1A (9,534,317 Shares) and 7.1 (12,403,191 Shares).
SHARE PURCHASE PLAN
In addition to the Placement, the Company will be offering eligible shareholders the opportunity to participate in the Company’s capital raising activities via the SPP for up to a further $500,000 (before costs and with the ability to take oversubscriptions) from the issue of 10,416,667 Shares.
Under the SPP, eligible Shareholders will be able to subscribe for Shares up to the value of $30,000 at an issue price of $0.048 per Share. In addition, the Company will separately offer one free Attaching Option for every two new Shares issued, exercisable at $0.09 per Share and expiring 3 years from the date of issue.
Documentation relating to the SPP and a Prospectus for the issue of the Attaching Options will be sent to eligible shareholders shortly.
The Attaching Options offered under both the Placement and SPP are subject to Shareholder approval and will be offered under a prospectus to be lodged shortly by the Company. The Attaching Option terms and conditions are included in Annexure A.
The issue of Shares under the Placement is not subject to shareholder approval as it falls within ChemX’s available placement capacity under Listing Rules 7.1 and 7.1A. A Notice of Meeting to approve the issue of Attaching Options under the Placement and SPP, Director participation in the Placement and other matters as necessary will be circulated in due course.
At the conclusion of the Placement, the Company will have 118,634,847 Shares on issue. Following the SPP offer to raise $500,000 (with the ability to take oversubscriptions), the Company will have a total of 129,051,514 Shares on issue.
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This article includes content from ChemX Materials, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Exploration Progress at Salambidwe
DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to provide this update to shareholders on its extensive geochemical and geophysical sampling program at the highly prospective Salambidwe REE and niobium (Nb) project in southern Malawi. A total of 514 soil and rock chip samples were collected over a 50km grid from outcrops across the licence area (Table 1) along with completion of an airborne geophysical program consisting of 45-line kilometres of electromagnetic plus radiometric surveying to map the magnetic and conductive properties of the geology of Salambidwe.
HIGHLIGHTS
- DY6 has completed the initial geochemical and geophysical exploration programs at the Salambidwe REE and Nb project.
- Assay results have been received for the grid-based soil and rock chip sampling. Results from the 128 soil and 386 rock chips expand the known area of anomalous responses.
- Maximum values from separate rock chip samples were 1.21% TREO & 0.12% Nb2O5
- The 45-line kilometre airborne geophysical program confirmed the highly concentric nature of the intrusive complex.
- DY6 is assessing the combined geochemical and geophysical data to refine targets prior to a maiden drill program.
Globe completed a sampling and ground radiometric survey over part of the central ring complex area of the intrusion outlining several zones of strongly anomalous TREO and Nb responses, numerous zones extended to the limits of the sampling. DY6’s sampling was specifically aimed at either extending or closing off these anomalous zones to the northern and western part of the licence.
The area of the historical sampling was not resampled, but several traverses were made across the outlined anomalous areas to ensure consistency and coherency of results (Figure 2). Absolute values obtained from the DY6 exploration appear to be slightly lower in tenor than the historical data; it is interpreted that this is due to the majority of the DY6 sampling being peripheral to the historical sampling and extending away from the central anomalous area.
DY6 detailed sampling expanded the anomalous areas on 100m x 100m spacing and the more regional and confirmatory sampling was at 100m intervals along lines 500m apart.
Figure 1: Geochemical sampling at Salambidwe prospect
Figure 2: DY6 Anomalous TREO Responses on RTP1VD aeromagnetic data at Salambidwe
The airborne data shown in Figure 2 shows the strong circular and concentric character of the intrusive syenite units at Salambidwe; note the area of anomalism seems to show a more subdued magnetic character, presumably due to alteration. Strong radiometric responses coincide with this area as shown below in Figure 3.
Figure 3 shows the extent of the historical TREO anomalism overlaid on the Total Count (TC) radiometrics image and the anomalous extensions generated by DY6’s exploration sampling.
Though a portion of the western anomalous zone is outside the current tenure; being too close to the Mozambique/Malawi border; this anomalous trend is now >2km long. The anomalous zone to the west of the western zone which does not overlay strong radiometric response requires further exploration. Both soils and rock chips return anomalous responses in this zone.
The eastern zone is approximately 1,700m long and nearly 1,000m wide near its northern limits.
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This article includes content from DY6 Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Senior Debt Process Initiated for Caldeira REE Project
The Export/Import Bank of the United States initiates a non-binding Letter of Interest for the Caldeira Project in Minas Gerais, Brazil
Meteoric Resources NL (ASX: MEI) (Meteoric or the Company) is pleased to announce it has initiated debt funding enquiries for its 100%-owned Caldeira Rare Earth Ionic Clay Project, located in the state of Minas Gerais, Brazil.
As a result of the ongoing advancement of Meteoric’s Caldeira Project, the Company has attracted the interest of both Export Credit Agencies (ECAs) and government lenders.
The Caldeira Project is a globally significant endowment of Rare Earth elements, further enhanced by its proximity to REE separation facilities in the Western Hemisphere. The Company is gearing up to mine and process high value Neodymium, Praseodymium (NdPr) and the highly sought Dysprosium and Terbium (DyTb). These four magnetic rare earth elements are critical for the generation of essential clean energy for the future.
With the support of Sprott Capital Partners (SCP), Meteoric has engaged Washington D.C.-based Woodford Resources for the initial phase of the Senior Debt Financing process. This has culminated in the Company receiving a non-binding Letter of Interest from the United States, Export-Import Bank (EXIM). Any financing support from EXIM following the Letter of Interest is subject to EXIM’s policies, procedures, credit requirements, and consideration by EXIM’s Board of Directors
The indicative terms of the potential financing are as follows:
- Facility amount of up to US$250M for United States origin equipment, goods and services.
- Subject to, but not limited to, typical conditions for financing but not yet defined.
- The willingness and interest of both parties to progress to a binding debt arrangement.
Meteoric is continuing to advance all aspects of the Caldeira Project, focussing on permitting, resource confidence, metallurgy and engineering studies. These studies are crucial to the progression of the EXIM due diligence process as Meteoric targets a Financial Investment Decision (FID) late in 2025.
In the event that the financing is approved by EXIM, the US$250M EXIM facility would have the potential to cornerstone a broad funding mix for the Caldeira Project. Meteoric is continuing to work with EXIM and other potential financiers and the details of any agreements will be announced on formalisation.
Chief Executive Officer, Nick Holthouse commented,
“We are delighted to start this process with the EXIM bank, an important step in our Debt Financing strategy for the Caldeira Project.
In recent years, there has been increased awareness of the deficiencies in the Western Supply chains for Rare Earth mining and downstream processing. Meteoric, through the Caldeira Project and support from the EXIM Bank, intends to play a part in re-building an independent and vertically integrated rare earth supply chain of scale. This is the first step in de-risking the funding aspect of Caldeira Project and we look forward to securing senior debt terms over time as we progress permitting, resource engineering and metallurgical packages and advance towards an FID.”
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This article includes content from Meteoric Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ChemX Materials Limited (ASX: CMX) – Trading Halt
Description
The securities of ChemX Materials Limited (‘CMX’) will be placed in trading halt at the request of CMX, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 25 March 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
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This article includes content from ChemX Materials, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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