• Axel REE drilling returns its highest ever assay of 1m at 28,321ppm TREO at the Caladão Project in Brazil with 27% MREO
• Drilling continues to uncover widespread and laterally persistent REE mineralisation across ~30km² drilled zone
• This lateral continuity is essential for building Caladão towards a district scale REE deposit

Special Report: Drilling has demonstrated the prospectivity of Axel REE’s flagship Caladão project in Brazil’s Minas Gerais state after returning its highest ever assay of 28,321ppm TREO.

Notably, valuable magnet rare earth oxides (MREO) make up 27%, or 7,606 parts per million (ppm) of the near surface 1m intercept from only 9m depth. This is itself part of a broader 14m high grade intersection grading 9,994ppm total rare earth oxides (TREO) from 1m in hole CLD-AUG-093.

Other results from Axel REE’s (ASX:AXL) Phase One drill program have also highlighted widespread and laterally persistent high grade REE mineralisation covering the entire ~30km² drilled zone completed to date, out of the total ~400km² Caladão Project area.

This handily reinforces the company’s belief that Caladão could be a district-scale, high-grade REE discovery with significant volumes of MREOs.

MREOs, including light rare earths neodymium and praseodymium and heavies dysprosium and terbium, are used to manufacture permanent magnets used in electric vehicle motors and wind turbines. They typically make up a high portion of the value within any TREO basket.

Earlier this month, the company reported that channel sampling over 8km had demonstrated continuous, widespread and high-grade REE mineralisation.

High grades for clay-hosted REE mineralisation

“The exceptionally high-grade results continue from our Caladão project, surpassing our expectations,” managing director Dr Fernando Tallarico said.

“Since our IPO in late July we have demonstrated that REE mineralisation extends over a significant area, with impressive thickness of the mineralised clay profile.

“The previously reported channel results and the overall distribution of the mineralised intercepts show a remarkable lateral continuity, which is essential for building resource volume.

“From the first auger hole drilled in 2023, we have consistently seen strong ore grades with high grade results returned from every batch in this program that commenced after IPO. These record-breaking assays represent a significant milestone for the company and reinforce the tremendous potential of the Caladão project.

“We have demonstrated that previously reported high-grade assays were not isolated, having received these new company record results as high as 28,321ppm TREO and 7,606ppm MREO from this batch. These results are significantly high for a clay-hosted REE project.

“The continuity of high-grade mineralisation at shallow depths and along strike highlights the scalability of this potential deposit, which we are confident that further drilling will continue to demonstrate.”

Phase One diamond and auger drilling is focused predominately at Area A, where mineralised intercepts have occurred over ~30km2.

Notably, this represents just 10% of the total project area.

This article was developed in collaboration with Axel REE, 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.