Magnum Mining and Exploration Limited has confirmed broad, anomalous total rare earth oxide (TREO) enrichment across the 8.3-square-kilometre area tested at the Feirinha Prospect, returning multiple shallow intersections from a 75-hole reverse-circulation drilling programme at the Palmares Rare Earth Element Project in Bahia, Brazil.

The campaign totaled 1,145 metres, with assays received for all holes. Neodymium and praseodymium account for 19.3% of the contained TREO across holes drilled to 15 metres. Key intercepts include hole PAL-RC-25-0035, intersecting 15 metres at 2,190 ppm TREO from surface, including 8 metres at 3,372 ppm TREO from 6 metres. 

Samples will now progress to desorption, mineralogical, and variability test work to evaluate whether the mineralization contains a desorbable strategic rare earth elements component. No further drilling is planned at Feirinha during this screening phase.

“These first results from Palmares are highly encouraging and demonstrate broad, anomalous TREO enrichment within approximately 8.3 km² area tested at the Feirinha Prospect.”

— Antonio Vitor Junior, Managing Director

Magnum also holds the Azimuth REE Project in Goiás, Brazil. The company's immediate operational priority remains the flagship Piracanjuba Prospect within Azimuth, where a 10,000-metre auger drilling programme is underway.

“Our immediate priority remains the flagship Piracanjuba Prospect within the Azimuth REE Project, where our systematic 10,000 m auger drilling programme is underway and we are targeting delivery of a maiden Mineral Resource Estimate in November, subject to exploration results.”

— Antonio Vitor Junior, Managing Director

Read the full announcement: MULTIPLE BROAD TREO INTERCEPTS AT FEIRINHA, BRAZIL