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How Will Australian Mines Prioritize the New Rare Earth Target for Drilling? — ASX:AUZ| ASX Mining News & Discussion
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Lykeshares
2y
Official
$AUZ
How Will Australian Mines Prioritize the New Rare Earth Target for Drilling?
Australian Mines Identifies Second Rare Earth and Niobium Target in Brazil
Australian Mines Limited, soon to be renamed EcoMetal Resources Limited, has announced the discovery of a second exploration target at its Jequie Rare Earth Project in Bahia, Brazil.
This target, distinguished by an extensive thorium anomaly and the presence of REE-bearing minerals in outcrop, underscores the project's potential for significant Rare Earth Element (REE) and Niobium mineralisation. The discovery aligns with the company's strategic focus on contributing to the global rare earth supply chain, amidst increasing demand for these critical minerals.
Exploration Highlights and Geological Setting
Thorium Anomaly Discovery: Spanning approximately 12km in length and up to 2.5km in width, the thorium anomaly within the project's licenses signals a strong potential for REE and Niobium presence.
Geological Potential: The target area features soils and clays near outcropping Leucogranites, known for hosting primary REE in hard
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rock or being the source of secondary REE oxides in weathered saprolite.
Field Testing Results: Initial field testing with a portable scintillometer has indicated positive results for REE-bearing minerals in outcrops, enhancing the target's prospectivity.
Strategic Exploration Forward
CEO Andrew Nesbitt expressed optimism about the discovery's potential to host significant REE mineralisation. With ongoing exploration efforts, Australian Mines aims to further delineate the target's geological setting and potential resources. The exploration strategy includes tracing highly radioactive rock sequences and analyzing rock-chip and soil samples with advanced spectroscopy techniques. Results from these analyses are anticipated within 40 to 60 days, paving the way for prioritizing the target to drill-ready status.
Regional Significance and Infrastructure
The Jequie Rare Earth Project, alongside the Resende Lithium Project, positions Australian Mines in two significant Brazilian mining districts. The Resende project, located in Minas Gerais' Lithium Valley, is surrounded by notable lithium producers, highlighting the region's strategic importance for lithium extraction. The Jequie project, in the resource-rich state of Bahia, benefits from established infrastructure, including sealed roads and access to clean hydropower and major ports.
The identification of a new exploration target at the Jequie Rare Earth Project marks a significant step forward for Australian Mines in its quest to uncover and develop critical mineral resources in Brazil. With this discovery, the company not only reinforces its commitment to the sustainable supply of essential minerals but also establishes a solid foundation for future exploration and potential resource development in the region. As exploration progresses, Australian Mines is poised to play a pivotal role in the global rare earth and niobium markets.
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L
Lykeshares
131d
Official
Berkshire is hoarding so. much. cash.
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L
Lykeshares
131d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
162d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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L
Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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L
Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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