Brazilian Critical Minerals Reveals Positive Infill Drilling Results at Ema Project
BCM (BCM) Share Update November 2024 Monday 18th
Brazilian Critical Minerals Announces Strong Infill Drilling Results
Brazilian Critical Minerals Ltd (ASX: BCM) has announced promising assay results from its ongoing infill drilling program at the Ema project in Brazil, indicating strong rare earth element grades that support future mining initiatives.
Instant Summary:
- 82 new holes completed in the 270-hole drilling program.
- Strong NdPr grades found directly above fresh bedrock.
- 49% of assays returned, supporting an updated Mineral Resource Estimate.
- Completion of drilling program expected by end of November 2024.
- Scoping study report scheduled for Q1 2025 release.
Infill Drilling Program Progress
Brazilian Critical Minerals Ltd has completed 82 new holes as part of its 270-hole infill drilling program at the Ema project, located in the Apuí region of Brazil. The program aims to increase the confidence level of the Mineral Resource Estimate (MRE) over the central portion of the Ema Mineral Resource limits.
The results have shown excellent grades and thicknesses, with particularly strong NdPr grades directly above the fresh bedrock contact. These findings support the proposed in-situ recovery (ISR) mining approach, which could significantly enhance the project's economic viability.
Significant Assay Results
Some of the significant assay results include:
- 10m at 1,103ppm TREO from 10m (EMA-TR-236), ending in 1,817ppm TREO
- 9.7m at 1,081ppm TREO from 2m (EMA-TR-229), ending in 1,398ppm TREO
- 10m at 1,086ppm TREO from 8m (EMA-TR-258), ending in 1,765ppm TREO
Approximately 49% of all assays have now been returned, with results to be included in an interim updated Ema Mineral Resource Estimate that will underpin the scoping study.
Future Plans and Environmental Assessments
The company is nearing the completion of the drilling program, with around 95% finished and full completion expected by the end of November 2024. The results will enable pre-planning and in-situ field trials required as part of a feasibility study scheduled for 2025.
Additionally, an environmental baseline assessment continues to progress on site, ensuring that all future developments are conducted sustainably.
The positive drilling results are likely to boost investor confidence in Brazilian Critical Minerals, as they indicate strong potential for economic rare earth element extraction. The successful completion of the drilling program and subsequent studies could lead to an increase in the company's stock value as the market anticipates future production capabilities.
Investor Reaction:
Analysts have reacted positively to the announcement, noting the strong grades and continuity of mineralization as key de-risking factors for the project. The potential for a low-cost in-situ leach operation adds further appeal to the company's prospects.
Conclusion:
Investors should keep an eye on the upcoming scoping study report and the completion of the drilling program. The results from these initiatives will be crucial in determining the project's viability and the company's future growth potential.