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Equinox Resources Limited (ASX: EQN) (“Equinox Resources” or the “Company”) is pleased to provide an update on the ongoing exploration activities at the “Campo Grande” Rare Earths (‘Campo Grande Project’) covering ~1801km2 in the Rare Earth (REE) province of Bahia, Brazil. The new detailed pan concentrate sampling and mapping campaign is focused on identifying anomalies and pathfinder minerals essential for discovering Rare Earths, targets for drilling and for guiding future exploration activities.
- Following the recently completed drilling program at the Rio Negro hard rock rare earth prospect, Equinox has significantly expanded its surface field work at the wider Campo Grande Rare Earth Project.
- Multiple new outcropping boulders in a number of new areas have been discovered that are considered highly prospective to host high grade hard rock rare earth mineralization with a number of samples collected and sent to the laboratory for assaying.
- Rio Negro is located ~20 km along strike from Brazilian Rare Earth’s Pele Project and ~5 km from their Sulista Project.1
- Rio Negro constitutes only a small proportion of Equinox’s extensive landholding in the region (see Figure 2), including coverage of a large proportion of the critical Volta Da Rio Plutonic suite, and is therefore well-positioned for a potential high-grade hard rock rare earth discovery.
- Assay results from the Rio Negro drilling program, comprising 156 auger and 3 RC holes to date, are due imminently. The RC holes penetrated hard rock at a depth of ~40 meters.
- New areas have been identified (refer to Figure 3) containing high thorium anomalies over much of the tenure, which is a key pathfinder element for high-grade rare earth mineralisation.
During a recent 18-day on-site visit, Managing Director Zac Komur, along with the in country management and geological teams, conducted field work activities across key prospects within the ~1801km2 of prospective REE tenements currently held in and around Brazilian Rare Earth’s (ASX:BRE) prospects of Monte Alto, Pele and their Sulista Projects.1 Multiple surface outcroppings were present across the targeted areas that are considered highly prospective for high grade hard rock earths. These outcrops were inspected and hard rock grab samples were collected and now at the laboratory for comprehensive assaying.
As Equinox Resources advances its exploration efforts, the Company remains committed to a systematic approach to the geological techniques used to potentially discover ultra-high grade rare earths across the ~1,800km2 of the Campo Grande Project. Shareholders can expect further updates as data becomes available and exploration progresses.
Equinox Resources Managing Director and CEO, Zac Komur, commented:
“Great to be back on the ground in Brazil, overseeing the impressive work our exploration team has achieved at Campo Grande. Traveling across our extensive tenements, I was struck by the sheer scale of our project. Our initial Rio Negro prospect represents just 1% of our total holdings for Campo Grande.
We have significant work ahead to approach our exploration in a systematic geological manner, ensuring that our investments are targeted wisely. I have full confidence in our geology team and their relentless dedication.
During my visit, I encountered multiple massive outcrop trendlines across our tenements. These have been sampled, and we are eagerly awaiting the results to strategically plan our next steps.”
Figure 1: EQN Managing Director Zac Komur on one of the outcrops at the Monoel Vitorino Block Prospect
Equinox Resources emphasizes that visual observations should never be considered a proxy or substitute for rigorous laboratory analyses where concentrations or grades are the factor or principal economic interest. Visual assessments alone cannot determine concentrations, grades, impurities, or any properties critical to valuations. The photos that included in this announcement will be submitted for laboratory assay to determine full suite TREO grades.
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This article includes content from Equinox Resources Limited, 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.
Exceptional Clay Hosted Rare Earth Grades Intersected at Poços
KEY HIGHLIGHTS
- Enova confirms significant assay results for a non-invasive shallow subsurface auger sampling programme at Poços; highlights of these are results greater than 2,000 ppm TREO2 are as follows:
- A1-TR001-001 including 3m @2,744
- A1-TR003-001 including 3m @3,030
- A1-TR006-001 including 3m @3,508
- A1-TR008-001 including 2m @2,113
- A1-TR009-001 including 3m @3,964
- A1-TR010-001 including 3m @2,524
- A2-TR001-001 including 1m @2,786
- A2-TR002-001 including 2m @2,043
- A2-TR006-001 including 2m @2,099
- A3-TR002-001 including 3m @2,306
- A3-TR005-001 including 2m @2,145
- A4-TR001-001 including 2m @2,488
- A4-TR001-001 including 3m @4,950
- Peak rare earth element (REE) assays were 5,158 ppm TREO or 0.52% TREO, 5,042 ppm TREO or 0.50% TREO, 4,650 ppm TREO or 0.47% TREO, providing guidance for a high-grade exploration target at Poços,
- REE enriched tenements at Poços confirm the areas’ potential for a prospect scale high grade REE deposit,
- Shallow surface and subsurface sampling confirmed surface saprolite clay systems w
- across all Poços tenements, with potential deeper mineralisation upside.
- The project is located nearby to townships, well-developed highways, infrastructure, water access, hydroelectric power and well connected to a commercial port.
ANNOUNCEMENT
Enova Mining Ltd (ASX: ENV) (“Enova” or the “Company”) is pleased to announce assay results from non-invasive shallow surface and subsurface auger sampling at Poços tenements 832.174/2023, 832.175/2023, 832.177/2023, 832.179/2023 and 830.652/2020. The locations of the auger sampling and significant assay intercepts are provided in Figure 2. In accordance with ASX reporting of mineral results, details of the sampling, assay results and other technical details are contained in JORC Table 1 and Significant Results and Auger Sampling Data for Poços Project in Table 2 in Appendix A.
The Poços alkaline complex massif region (Poços) hosts world-class rare earth element (REE) mineral discoveries. Enova aims to replicate the success of peers in the region. Refer to Figure 1 (below) for a location plan of Enova’s tenements and surrounding tenements of IAC REE significance.
Figure 1: Regional location of Poços tenements
Enova is assessing results from the current exploration program and the potential for future air-core drilling program. Regarding tenements overlain by the Pedra Branca APA area and buffer zone, identified during Due Diligence, further clarification is being sought regarding requirements for more impactful exploration in the future, such as air-core/reverse circulation drilling and future development.
Mr. Eric Vesel Managing Director of Enova, commented:
“The assay results from the Poços sampling programme confirm the prospectivity of the tenements, which is not surprising for tenements within the alkaline complex. The largest tenement, located near the southern rim of the complex, was encouraging but with mixed results (Above and below 1000ppm TREO). Overall, the Poços results have returned exceptional near- surface grades which has significant unexplored deeper saprolite strata worthy of follow up exploration. This Phase 1 exploration work was part of our initial reconnaissance to investigate our portfolio of prospective REE tenements.
Our team is currently focused on the CODA maiden drill programme; we recognise the importance of assessing all our other projects. We have arranged a consulting exploration team to explore our Juquiá tenements, a potential carbonatite prospect. There is also REE potential within our Santo Antonio (do Jacinto) tenements based on a strong thorium anomaly3, as shared by SI6’s Pimenta Project.
Enova is now in the envious position of holding two major potential IAC REE project areas: POÇOS and CODA with further areas currently under investigation. It’s remarkable that in such a short period of time, Enova has acquired and brought from concept to exploration stage, two major projects with significant upside and worthy of development.”
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This article includes content from Enova Mining Limited, 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.
47.1% Niobium and 9.01% Tantalum Identified in Columbite Rock Chip at North Dam
HIGHLIGHTS
- Columbite Rock chip sample ND11 sourced from pegmatite returned significant results for Niobium 47.1 % (Nb) and Tantalum 9.01% (Ta) within the North Dam Project.
- This follows up from previously announced (22 August 2023) rock chips collected from a stream bed which returned results 43.93% Nb and 14.53% Ta.
- Anomalous Nb in soil geochemistry is coincident with out cropping pegmatites within the central area of E15/1495, which will be drill tested in the upcoming RC drill program.
- Preliminary heritage survey report now received and supports performing the planned activities, final report is expected this month, with drilling continuing to be targeted to commence in July.
- Infill soil sampling has been completed in targeted zones and results will be incorporated into the final drill hole plans as results are received.
CuFe Executive Director, Mark Hancock, commented“The recent work by the team at North Dam further illustrates the potential of the tenement and although the results are from a columbite chip it shows the potential of the pegmatites across the tenement to host critical minerals other than lithium. We are eager to start our maiden drilling program to further understand the potential of the region”.
As per ASX announcement dated 28th May 2024 a soil geochemistry review, detailed pegmatite mapping and rock chip sampling was undertaken to identify the source pegmatites that have likely shed the columbite and tantalite rock chips along a 97m narrow stream bed which returned 43.93% Nb and 14.53% Ta from sample S254 (refer to ASX release dated 22nd August 2023). A recent rock chip sample ND11 of columbite was collected directly from an outcropping pegmatite located nearby the Niobium soil anomaly and 100m South East from S254.
The selective sample of columbite from weathered pegmatite is biased and does not represent the true concentration of the overall pegmatite but yielded a Niobium content of 47.1% and Tantalum 9.01% (see Figure 1 and Table 1).
Broader zones of anomalous Niobium (>15ppm and > 20ppm) from soil geochemistry have been interpreted (See Figure 2) and are coincident with outcropping pegmatites. These pegmatites to the West will both be mapped in detail for the presence of columbite and have drill holes planned to intersect them as part of the wider RC program, which is primarily targeting Li2O.
A preliminary report has been received for the recent heritage survey and supports performing the planned activities, with the final report expected this month. Following this, preparatory works can be executed prior to mobilisation of the drilling contractor, with drilling targeted to commence in July.
Infill soil sampling work to assist in definition of the priority drill holes has now been completed and results will be incorporated into the drill plans once received.
Figure 1: Photos columbite and source pegmatite
Table 1: Sample ND11 rock chip niobium and tantalum chemistry.
Figure 2: Location of anomalous Nb rock chip sample and soil anomaly at the North Dam Projects
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This article includes content from CUFE LTD, 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.
