Magnum Mining and Exploration Limited has completed its 10,000-metre drilling milestone at the Piracanjuba North Project, located within the 100%-owned Azimuth rare earth element project in Goiás, Brazil.

The drilling database now records approximately 10,313.97 metres completed across 867 collars, advancing past the approximately 6,200 metres reported as of August 2026. With systematic regional drilling complete, operations have progressively concentrated on the Plateau zone, which now contains approximately 7,137.42 metres across 576 collars as the primary focus for resource-definition work.

“Completing the 10,000 metre drilling milestone changes the focus at Piracanjuba from proving scale to defining the best parts of the system. Our drilling is now being directed into the Plateau for tighter-spaced geological control, while independent resource, NORM and metallurgical workstreams advance in parallel.” — Antonio Vitor, Executive Chairman

The company plans a further 2,000-metre diamond drilling phase to prioritize infill across the most prospective Plateau domains. This upcoming phase will deploy a high-recovery, water-free diamond drilling configuration designed to improve sample recovery and enable efficient advancement through key weathering horizons. Previous metallurgical testwork confirmed that rare earth mineralization at the prospect is hosted in an ionic adsorption clay system.

Magnum has engaged specialist providers to run parallel technical workstreams alongside the Plateau infill drilling. GE21 Consultoria Mineral Ltda has been appointed to build the independent geological and resource model and, subject to sufficient supporting data, complete a JORC Mineral Resource Estimate and initial scoping study. GLP Laboratorio is conducting a naturally occurring radioactive material assessment to establish a radiological baseline for development planning, while the Centro de Tecnologia Mineral is handling ore characterization and preliminary metallurgical testwork.

The company targets completion of the JORC Mineral Resource Estimate for the Plateau zone by the end of November 2026, noting that this timetable could extend by up to two weeks should current laboratory turnaround times remain elevated.

Read the full announcement: 10,000M DRILLING MILESTONE COMPLETED AT PIRACANJUBA