Brazilian Critical Minerals (ASX:BCM) updated its mineral resource estimate for the Ema rare earth elements project in Brazil, with the starter zone at the project now containing 341 million tonnes at 746 parts per million total rare earth oxides in the indicated and inferred category, according to a Friday Australian bourse filing.
The starter zone contains 73% or 248 million tonnes at 759 ppm grade of total rare earth oxides in the indicated category, an increase of 97% over the previous estimate.
Results from the 2024 drill program were able to convert the estimate from inferred to indicated category, the filing added.
The firm is finalizing a scoping study, which it plans to release during the first quarter.
Its updated global mineral resource estimate is 943 million tonnes at 716 ppm grade of total rare earth oxides.
The firm's shares rose 13% in recent trading on Friday.
Price (AUD): $0.01, Change: $+0.00100, Percent Change: +12.50%
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