Magnum Minerals (ASX: MGU) has initiated an initial auger drilling program at the Azimuth rare earth element (REE) project in Brazil, which it acquired in May.
The inaugural 333-hole campaign covering 1,665 metres is expected to take 40 days, with assay results due in Q1 CY2026.
The company is testing a number of high priority targets it has identified from airborne radiometric data, sampling areas with highly anomalous radiometric zones in the search for ionic clay REEs.
Extensive Anomalies
“The program represents a major step forward in testing the extensive radiometric anomalies that define multiple high-priority ionic clay rare earth targets,” chair Michael Davy said.
“Significantly, these prospects have no historical exploration activity to date, and are within proximity of other notable deposits such as PCH and Catalão.”
Azimuth is part of Magnum’s growing REE play, which includes exploration and the development of specialised development technologies.
Magnum has mobilised two motorised auger rigs – each supported by three-man crews – for the program, which will sample from surface to a nominal depth of 5m.
Elsewhere in Brazil, assays from rock-chips recently acquired at the company’s Feirinha prospect returned 1.69% total rare earth oxides.
REE Separation Deal
Magnum recently executed a binding memorandum of understanding with TSX-listed Homerun Resources to evaluate the application of Homerun’s unique REE separation system, with any new intellectual property generated during testing to be jointly owned by the parties.
Using samples supplied by Magnum, the companies will examine whether Homerun’s high-purity materials can be optimised for ion-exchange or chromatographic separation of REEs.
Magnum believes the program has the potential to lead to a lower-footprint alternative to conventional solvent extraction for REEs and, in particular, heavy REEs.
Bench-scale examinations have achieved approximately 99.9% purity for individual heavy REEs using mineral-acid eluents.
This suggests potential process and environmental advantages compared to conventional bulk solvent extraction.
