Equinox Resources Limited

New Outcropping Boulders with the Potential to Host High Grade Hard Rock Rare Earth Mineralisation Discovered in Expanded Field Reconnaissance Program at Campo Grande Project

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.

Click here for the full ASX Release

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.

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