Meteoric Resources: Can their Exciting Clay Rare Earth Results Transform the Industry?

Meteoric Resources Unveils Revolutionary Recoveries in Ionic Clay Metallurgical Testwork for Caldeira REE Project

Exceptional Rare Earth Element Extractions Push the Boundaries of Resource Potential

Meteoric Resources NL (ASX: MEI) has disrupted the rare earth element (REE) landscape with its groundbreaking metallurgical testwork outcomes at the Caldeira Rare Earth Ionic Clay Project, located in Minas Gerais, Brazil. The company's recent results have unveiled unparalleled recoveries and robust ionic behaviors across multiple deposits, setting new industry benchmarks.

A Paradigm Shift in REE Recovery

Meteoric's metallurgical testwork has continued to showcase exceptional leach extractions for Ionic Clays at the Caldeira Project. Rare Earth Element recoveries across all six tested deposits have displayed consistent strong ionic behavior over thick intervals using a standard AMSUL wash test (unoptimized). These recoveries stand as the highest globally reported Ionic Adsorption Clay recoveries.

Of noteworthy mention are the exceptional Magnet Rare Earth Element (MREE) leach extractions. A staggering 48 different metallurgical composites across all deposits achieved an average Magnetic REE leach extraction of 73% with standout percentages for Neodymium (Nd) at 74%, Praseodymium (Pr) at 71%, Terbium (Tb) at 57%, and Dysprosium (Dy) at 56%.

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These impressive results were achieved with a standard AMSUL wash at pH4.

Strategic Collaboration Fuels Progress

Meteoric's collaboration with the Australian Nuclear Science and Technology Organisation (ANSTO), a leading laboratory in ionic clay leaching, has significantly contributed to process flowsheet development. The company engaged ANSTO to undertake the metallurgical testwork, utilizing diamond drill cores collected during a comprehensive sampling program across the six deposits with defined Inferred Resources.

CEO Nick Holthouse expressed his satisfaction with the outstanding results, emphasizing the confirmation of the vast majority of samples tested as ionic and amenable to low Capex, low Opex AMSUL leaching at pH 4. 0. Holthouse emphasized the extension of ionic clays significantly below the existing resource profile, adding value through increased scale and scheduling flexibility.

ANSTO's Metallurgical Leach Results Unveiled

The ANSTO metallurgical testwork, initiated in July 2023, analyzed 3m composite samples from forty-one diamond drill cores as part of Meteoric's metallurgical sampling program conducted between March and July 2023. This program targeted the six deposits defining the company's Inferred Resource Estimates: Capão Do Mel, Soberbo, Figueira, Cupim Vermelho Norte, Donna Maria 1, and Donna Maria 2.

The rigorous testwork program aimed to validate previous results and assess metallurgical variability, particularly focusing on the clay zone beneath known JOGMEC drilling, the current resource estimation boundary, and previous SGS testwork. The samples collected beneath the soil horizon were meticulously tested, while the soil, containing strongly elevated REE, was not included in the testwork, planned for stockpiling post-mining operations.

Unveiling Geological Insights

The extensive metallurgical testwork, involving standard AMSUL washes for 33 diamond drill holes, has yielded 190 composite diagnostic leaches, highlighting Meteoric's meticulous approach towards exploration and resource validation. The outcomes not only corroborated previous test results conducted by JOGMEC in 2019 but also aimed to evaluate metallurgical variability across the deposits laterally and at depth.

One of the key aims of the program was to shed light on the clay zone's characteristics below known JOGMEC drilling and the current resource estimation boundary. This strategic assessment will guide resource infill drilling, engineering strategies, and permit applications.

Future Anticipations

With the current results paving the way for potential resource expansion, Meteoric Resources anticipates the pending outcomes, expecting the remaining test results to be unveiled by December 2023-January 2024. These anticipated results hold the promise of further substantiating and enhancing the comprehensive understanding of the Caldeira Project's resource potential.

Meteoric's commitment to validating and exploring the depth of its Ionic Clays at the Caldeira Project not only highlights its dedication to cutting-edge exploration methodologies but also underscores its strategic foresight in propelling the rare earth element industry forward.

The meticulous approach towards process optimization and resource validation solidifies Meteoric Resources' position as a trailblazer in the rare earth element sector. As the company continues its innovative strides and collaborative efforts, the market eagerly awaits the upcoming revelations, poised to witness a potential transformation in the REE landscape driven by groundbreaking discoveries and advanced exploration methodologies.

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