Brazilian Rare Earths (ASX:BRE) said the results of exploration drilling at the Pelé Target 1 project in Brazil showed the discovery of high-grade rare earth elements, according to a Wednesday Australian bourse filing.
Drilling returned assays of up to 13.5% grade of total rare earth oxides, containing 23,217 parts-per-million grade of neodymium-praseodymium, 938 ppm grade of dysprosium-terbium, 5,011 ppm grade of niobium pentoxide, 381 ppm grade of scandium oxide, 248 ppm grade of tantalum oxide and 1,100 ppm grade of uranium oxide.
It plans to complete comprehensive drone-based magnetic and radiometric surveys across the entire Pelé project to define and prioritize drill targets. It will conduct diamond drilling of priority drill targets as well as extensive auger drilling for high-grade monazite sand mineralization.
Its shares rose 2% on market close on Wednesday.
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