Magnum Mining and Exploration Limited has reported assay results from a further 86 auger holes at the Piracanjuba North Project, located within the 100%-owned Azimuth REE Project in Goiás, Brazil. The latest results bring the total number of reported holes to 298 and define a single connected priority area of approximately 32.5km² known as the Plateau Zone.

The strongest result in the batch came from hole PIR-AH-0245, which returned 7m at 410ppm desorbable total rare earth oxide from surface with a 52% desorption rate, including a 1m interval at 1,072ppm desorbable TREO with a 59% desorption rate from 6m depth. Whole-hole desorbable TREO across the 86 newly reported holes ranges from 8 to 410ppm. Other strong intersections include hole PIR-AH-0306 with 11m at 295ppm from surface, PIR-AH-0254 with 14m at 252ppm, and PIR-AH-0288 returning 11m at 227ppm.

Analysis shows that magnet rare earth oxides make up 32.5% of the desorbable TREO across the newly reported batch, compared with 21.9% of the head grade TREO. The best desorption results are concentrated on elevated plateau terrain where the weathered clay profile is thickest.

“These results continue to demonstrate the growing strength of Piracanjuba North. The project is now supported by a significantly larger and more robust database, while continuing to confirm consistent head grades and strong apparent desorption responses across the Plateau Zone. With more than 400 drill-hole assay results still pending at the laboratory, we see substantial potential for the project to strengthen further as new data is incorporated, and additional high-grade and strong-desorption zones are identified.” — Antonio Vitor, Managing Director

Drilling is approximately 90% complete, with 9,001m finished out of a planned 10,000m programme using nine rigs on site. Approximately 400 assay results remain pending at the laboratory. Preliminary mineralogical characterisation and preliminary metallurgical desorption testwork are scheduled to start in September 2026, with conclusions expected by mid-October. Magnum targets the delivery of a maiden JORC Mineral Resource Estimate for the Plateau Zone in November 2026.

Read the full announcement: Assays Define 32.5km2 Priority Area at Piracanjuba North