• Equinox reports ionic clays and up to 80% TREO recoveries at Campo Grande project
• Project spans around 1,800 km² with these results from the Rio Negro prospect
• RC and auger drilling ongoing at the project

Special Report: Equinox Resources says metallurgical testwork on 20 scout drill holes at the Rio Negro prospect of its Campo Grande rare earth project in Brazil has confirmed ionic adsorption clays.

For context, Ionic rare earth deposits like those in south-west China, the world´s largest known ionic clay region, produced more than 80,000t of total rare earth oxides or around ~40% of the world’s total in 2024.

“Our recent ammonium sulphate (AMSUL) test results confirms the presence of rare earth ionic adsorption clays at our Campo Grande project, with Total Rare Earth Oxides (TREO) recoveries reaching up to 80%,” Equinox Resources (ASX:EQN) managing director Zac Komur said.

“Impressively, recoveries for high value magnet elements like neodymium (Nd), praseodymium (Pr), and dysprosium (Dy) hit 88%, and terbium (Tb) achieved an exceptional 91%.”

The exceptional magnet rare earth oxide (MREO) recoveries include:

• 4m at 1595 ppm TREO, 35% MREO with 71% recovery of TREO, 75% NdPr recovery, 81% Dy and 87% Tb recovery
• 3.5m at 1164 ppm TREO, 26% MREO with 65% recovery of TREO, 85% NdPr recovery, 88% Dy, and 90% Tb recovery
• 2m at 1278 ppm TREO, 29% MREO with 76% recovery of TREO, 83% NdPr recovery, 83% Dy and 85% Tb recovery; and
• 1m at 1057 ppm TREO, 30% MREO with 78% recovery of TREO, 85% NdPr recovery, 88% Dy, and 90% Tb recovery.

Comparable to large-scale neighbours

Campo Grande is located adjacent to the ultra-high-grade rare earth discoveries made by Brazilian Rare Earths (ASX:BRE) at Monte Alto, Pele and Sulista.

The company says their recoveries are comparable, with BRE’s ionic clay recoveries at Monte Alto reaching up to 75% TREO-CeO₂3, while Equinox’s ionic recoveries at the Rio Negro prospect are as high as 91% TREO-CeO₂.

These results suggest Campo Grande not only shares geological similarities with Monte Alto but may also potentially exhibit superior recovery rates and magnet REE content, positioning EQX’s project favourably within a proven REE province.

Plus, spanning around 1800km2, the Rio Negro prospect makes up only 1% of the project claim area, highlighting the significant scale and potential of this venture and underscoring the region’s potential for large-scale ionic adsorption clay mineralisation.

RC and auger drilling is ongoing across 277 high priority targets.

“We’re continuing to follow the geology and drilling across high-priority areas at both projects, ensuring we maximise the potential we’ve discovered,” Komur said.

“There’s much more to come. Equinox Resources remains fully committed to developing all of our projects—from the Hamersley Iron Ore Project in the Pilbara to our antimony opportunity in Canada, and our rare earth projects in Brazil.

“By focusing on the fundamentals and aligning our efforts with global trends, we’re building resilience and positioning ourselves for sustainable success in a complex market landscape.”

This article was developed in collaboration with Equinox Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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