St George Mining (ASX: SGQ) have reported further strong assays from ongoing diamond drilling at its wholly-owned Araxá rare earths and niobium project in Brazil’s Minas Gerais state.
The company confirmed extensive continuity of high-grade mineralisation over very broad intervals and consistency of grades from the surface and over significant widths, open in all directions and at depth.
Resource increase
The results are believed to indicate potential for a substantial increase to Araxá’s world-class mineral resource estimate of 40.6 million tonnes at 4.13% total rare earth oxides (TREO), currently modelled to a depth of 100 metres.
A high proportion of magnet rare earths consistent with the profile seen across the resource estimate reinforces the project’s emergence as a strategic source of rare earths magnet-making materials.
Araxá is the largest and highest-grade carbonatite-hosted rare earths deposit in South America and the second highest-grade in the Western world.
Second thickest intersection
The new assays included St George’s second thickest rare earths intersection to date at Araxá and niobium grades reflective of the project’s location in the Barriero Carbonatite, adjacent to the niobium operations of world-leading supplier CBMM.
The results are reported to have extended Araxá’s existing resource envelope and provide the company with a high level of confidence for the delivery of an upgraded resource model.
Best assays
The best results were 128.6m at 4.87% TREO and 0.85% niobium pentoxide, including 31.25m at 6.09% TREO and 0.76% niobium pentoxide from 44m, and 100.6m at 4.25% TREO and 0.73% niobium pentoxide, including 19.6m at 8.16% TREO and 1.39% niobium pentoxide from the surface and 20m at 5.94% TREO and 0.91% niobium pentoxide from 39m.
Other highlights were 81.1m at 5.33% TREO and 0.78% niobium pentoxide, including 15.65m at 6.58% TREO and 0.87% niobium pentoxide from 6.2m and 23m at 6.59% TREO and 1.08% niobium pentoxide from 36m, and 81.3m at 4.81% TREO and 0.48% niobium pentoxide, including 13.95m at 6.99% TREO and 0.41% niobium pentoxide from 18.3m and 10.6m at 7.86% TREO and 0.50% niobium pentoxide from 68.4m.
Untapped potential
Executive chairman John Prineas said the company was focused on defining an expanded resource of high-grade rare earths and niobium at Araxá.
“These latest assays continue to demonstrate the untapped potential at Araxá, and the consistency of the results is very impressive,” he said.
“Together with new mineralisation discovered beyond previously defined limits, our drilling is transforming the scale of this resource and positioning us as one of the leaders in the rare earths and niobium sectors.”
