Enova Mining (ASX: ENV) has reported strong drilling results at its CODA North project in Brazil, with multiple intercepts exceeding 15% titanium dioxide, associated with rare earth element (REE) mineralisation.
Drilling of 3,101 metres on ground within the Patos Formation returned 10 standout assays believed to underscore the project’s multi-commodity potential.
The geochemical relationship suggests the possibility of co-extracting titanium alongside valuable REE, enhancing the overall project.
“Such findings position CODA North as a promising prospect for the development of multi-resource extraction strategies and support our mission to unlock high-value mineral opportunities in this region,” chief executive officer Eric Vesel said.
“Our team has discovered significant REE potential at zones enriched with additional metals such as titanium, scandium and niobium, which could become by-products for a future rare earths operation,” Mr Vesel said.
“We are excited about the opportunities this presents as we continue to advance our strategic growth initiatives.”
Highlights from surface featured 54m at 9.03% titanium dioxide including 16m at 16.1% from 37m, 48m at 12.1% titanium dioxide including 14m at 19.2% from 21m and 37.4m at 12.26% titanium dioxide including 14m at 17.7% from 14m.
Other notable results were 49m at 10.85% titanium dioxide including 16m at 15.4% from 11m, 49m at 10.5% titanium dioxide including 13m at 15.7% from 15m and 32m at 12.08% titanium dioxide from surface including 11m at 16.4% from 11m.
Four more prospective REE mineralised zones await drilling—CODA East, CODA XN, CODA XS and CODA South.
Titanium is a versatile metal known for its exceptional strength-to-weight ratio, corrosion resistance and high-temperature stability, making it essential across a range of industries.
It is widely used in the aerospace and defence sectors for aircraft components and military equipment and in the automotive sector for the manufacture of lightweight and durable parts.
Titanium’s biocompatibility makes it ideal for medical implants and devices, while its corrosion resistance supports applications in chemical processing, marine environments and desalination plants.
The global titanium dioxide market was valued at $32.22 billion in 2023 and is expected to grow at a compound annual rate of 6.2% to $55.37b by 2032.
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