Brazilian Rare Earths (ASX:BRE) reported rare earth extraction of up to 94% total rare earth oxides (TREO) from its Monte Alto Rare Earth Project in Bahia, Brazil, according to a Tuesday filing with the Australian bourse.

Drilling yielded weighted average rare earth grades of over 16% TREO, including grades of 27,063 parts per million (ppm) of neodymium-praseodymium and 1,327 ppm of heavy rare earths, the filing said.

The project's scoping study is expected to be completed in the second quarter of 2025.

The company's shares rose almost 3% in recent Tuesday trade.

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