Axel REE (ASX: AXL) has increased the rare earth element resource at the Caladão project in Brazil by 145% and gallium by 339%.
The increases come after the company unveiled a significant maiden inferred mineral resource estimate (MRE) for Area B at Caladão of 339 million tonnes (Mt) at 1,075 parts per million (ppm) total rare earth oxides (TREO) and 36.6 ppm gallium.
Combined with the previously reported results from Area A, the total rare earth elements (REE) inventory now stands at 572 Mt at 1,506 ppm TREO while the combined inferred gallium resource now sits at 439 Mt at 38 ppm.
World class results
Non-executive chairman, Paul Dickson, said the upgrade positions Caladão among the largest ionic clay REE projects and as one of the largest gallium projects globally.
“Delivering this Area B mineral resource represents a major milestone for Axel and marks a significant step forward in unlocking the full potential of the Caladão project. “
“With magnet rare earths representing a significant portion of the basket value, Caladão is strategically positioned to supply critical materials for global technology and energy markets.”
Wide-spread mineralisation
The maiden Area B resource is distributed across three deposits - Marambaia, Tiger Creek and Woolrich.
Mr Dickson said the broad, multi-deposit footprint at Area B complements Area A and supports the company’s view of Caladão as a district-scale, clay-hosted REE and gallium system.
Axel REE plans to continue to grow the project through infill drilling, expanded leach test work and hydrological assessments in the lead-up to finalising priority zones for trial mining in 2026.
Woolrich target tests
In late November, Axel REE reported excellent initial leach values and geological dataset from follow-up testing of metallurgical, hydrological and technical studies at the Woolrich target in Area B.
The leaching results demonstrate soluble TREO grades in the strongest intercepts that are comparable to the 486 ppm soluble TREO resource grade reported at the Gerik in situ leach (ISL) REE mine in Perak State, Malaysia.
Notably, the company has recorded higher soluble grades than the interval average in several holes at the target, consistent with enrichment of ionic rare earths with depth in typical ionic adsorption clay deposits.
Axel REE believes this highlights the potential to increase average soluble grades at Woolrich as drilling is extended into the lower saprolite.
