Preparations for Resouro Strategic Metals' ASX debut are in full swing as the company announces yet another set of remarkable results from its Tiros clay rare earths and titanium oxide project in Brazil.
The recent drilling results from Resouro reaffirm the significant findings previously unveiled, indicating the immense potential of the 477km2 project to emerge as a leading, long-lasting mine in the industry.
Highlighted among the latest findings are notable high-grade intercepts, such as a 40-meter stretch yielding 4,343ppm total rare earth oxides (TREO), including 1,000ppm of high-value magnet rare earths neodymium and praseodymium (NdPr), along with 11.46% titanium oxide (TiO2) from just 10 meters. Another impressive intercept includes 6 meters with 10,028ppm TREO, comprising 2,413ppm NdPr and 23.03% TiO2, obtained from a depth of 15.4 meters.
CEO and President of Resouro, Chris Eager said the results underscore Tiros' status as one of the world's highest-grade clay rare earth deposits and TiO2 deposits in non-conglomerated materials.
“The consistency and continuity of high total rare earth oxide (TREO) grades, coupled with very high NdPr grades closely associated with extremely elevated titanium oxide (TiO2) grades, underscore the remarkable nature of Tiros,” he said.
Eager further elaborated on the project's potential, highlighting its unconstrained orebody in all directions, including depth, and emphasised the significance of recently approved tenements in expanding the project's scale.
Tiros' advantageous proximity to existing infrastructure and a skilled mining workforce in Brazil's mining hub, Minas Gerais, further enhances its appeal.
Buoyed by consistently thick intercepts at exceptionally high grades, Resouro is poised to advance confidently with technical studies on the central tenements, constituting only 9% of the vast project area.
The company's next objectives include estimating a JORC Compliant Resource Exploration Target and consolidating pending assay results to establish a Maiden JORC Resource for the central area. This data, combined with forthcoming metallurgical test-work results, will facilitate the development of a comprehensive geo-metallurgical model of the deposit.
While the potential of the central tenements remains open in all directions, Resouro has obtained approval for exploration in the Northern and Southern regions, indicating similar promising prospects to the Tiros Central Block.
Preparations are underway for exploration activities in these newly approved areas, contingent upon the receipt of pending results from the central tenements.
The company has also initiated key steps towards a Metallurgical Testwork Program aimed at optimising recovery processes and maximising project net present value (NPV). Collaboration with leading laboratories and subject matter experts will facilitate conventional ionic clay extraction and exploration of non-conventional methods with potential for enhanced recoveries.
Earlier assessments have hinted at favourable financial outcomes for Tiros, bolstered by its world-class grades.
With its ASX listing imminent, Resouro aims to capitalise on the burgeoning investor interest in Brazilian rare earths ventures, joining the ranks of established players like Meteoric Resources (ASX: MEI) and Gina Rinehart-backed Brazilian Rare Earths (ASX: BRE).
The company’s ASX debut will complement its current Toronto and Frankfurt listings.
