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How Will Australian Mines Prioritize the New Rare Earth Target for Drilling? Australian Mines Limited

How Will Australian Mines Prioritize the New Rare Earth Target for Drilling?

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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 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.

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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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