Brazilian Rare Earths (ASX:BRE) made an "exceptional" heavy rare earth discovery at its Monte Alto project in Brazil, according to a Wednesday filing with the Australian bourse.
The company hit outcropping rare earth mineralization with grades of up to 14.6% total rare earth oxides, and heavy rare earth grades of up to 5,691 parts per million dysprosium oxide, 737 ppm terbium oxide and 74,543 ppm yttrium oxide, the filing stated. It also struck high-grade rare earth channel-sampling at Monte Alto East.
The mineral explorer's shares were up more than 5% in recent Wednesday trade.
Price (AUD): $2.55, Change: $+0.13, Percent Change: +5.37%
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