Brazilian Rare Earths Limited has intersected 25.6 metres at 17.4% Total Rare Earth Oxide (TREO) from 174 metres, including an 8-metre core grading 28.1% TREO, in a diamond drilling campaign at the Monte Alto rare earths deposit in Bahia, Brazil.

The ~10,000-metre program—comprising 39 new holes and 10 extensions—has expanded the interpreted volume of the primary geological envelope by approximately 50% compared to the February 2026 model. Step-out drilling tested extensions around the deposit margins, returning results such as 9.4 metres at 21.8% TREO from 161.7 metres (including 6.2 metres at 25.4% TREO) in extended hole MADD0093, which confirms the eastern growth front remains open down dip.

Repeated step-outs also returned 6.6 metres at 21.2% TREO in hole MADD0219 and 6.8 metres at 19.1% TREO in hole MADD0216. Infill drilling yielded broad and high-grade intersections, including 12.3 metres at 16.5% TREO with a 4.9-metre interval at 32.0% TREO in hole MADD0246.

The mineralisation remains open to the north, south, and east. A priority 1,400-metre drill program is underway to test the northern strike-extension corridor following recent drill site access.

“Drillhole MADD0230 is a standout result - 25.6 metres at 17.4% TREO, including 8 metres at 28.1% TREO - while the MADD0093 extension confirms that the same high-grade, multi-element system continues down dip. The compelling step-out drill results delivered repeatable high grades across several growth fronts, and the infill program has returned both ultra-high-grade assays and broad mineralised envelopes.”

— Bernardo da Veiga, CEO & Managing Director

The latest assay results are entirely post-cut-off from the Mineral Resource Estimate and Scoping Study published in August 2026, which was based on drilling available up to 22 February 2026. That scoping study forecast an after-tax net present value of approximately US$6 billion and an internal rate of return of approximately 90% over an initial nine-year mine life.

Additionally, Brazil's National Mining Agency granted Brazilian Rare Earths a Trial Mining Licence on March 25, 2026, authorising the extraction of up to 2,000 tonnes per annum of product from the deposit.

Brazilian Rare Earths targets the delivery of an updated Mineral Resource Estimate for Monte Alto by the end of 2026, incorporating the validated post-cut-off drilling results.

Read the full announcement: Ultra-High-Grade Drilling Materially Expands Monte Alto