St George jags more rare earths 1km beyond current Brazilian deposit
The breakthrough initial assays from its auger drilling program include grades up to 13.4 per cent total rare earth oxides (TREO), including a standout 13.5-metre intersection at 12.34 per cent TREO from 0.5m in one hole, ending in mineralisation at 13.4 per cent TREO.
The new results form part of the company's first 22 auger drill holes for 291m in its latest reconnaissance auger program.
Most of the intercepts revealed so far indicate pervasive TREO mineralisation ranging from 0.82m over more than 7m, with a best intercept of 12.34 per cent over 13.5m.
Additionally, 16 out of 41 analyses quoted for niobium pentoxide intercepts assayed between 0.2 per cent to a best result of 0.27 per cent niobium pentoxide over a 9m interval. Seventeen results lie between 0.1 per cent and 0.19 per cent niobium pentoxide.
These outstanding early scout drilling results point to the potential for substantial expansion of St George's already globally significant Araxá niobium-rare earths deposit, positioning the company as a cornerstone supplier of non-Chinese critical minerals supply chains amid growing global demand.
The program's exceptional results include high levels of permanent magnet critical neodymium-praseodymium (NdPr) with values up to 3.33 per cent NdPr and a best NdPr:TREO ratio of 36 per cent, which could prove well-suited to high-performance magnet production.
Apart from the best drill hole result, which nailed 13.4 per cent TREO, a longer intercept delivered 14.5m at 1.63 per cent TREO from 0.5m, including 3m at 2.81 per cent TREO from 12m, with a 22 per cent NdPr:TREO ratio.
Two other single-metre intercepts assayed 2.91 per cent and 2.06 TREO, with 27 per cent and 17 per cent NdPr:TREO, respectively.
The company is awaiting assays for 28 auger holes for a further 348m of drilling.
The new discovery in the eastern margin of the project area, near the fringe of the Barreiro carbonatite, is in an undrilled area regarded as highly prospective for rare earths.
The laterally widespread high-grade rare earths mineralisation intersected in the eastern margin, even considering the shallow depths of the auger drilling at less than 16m, could represent the surface expression of a larger, underlying mineralised system.
The high NdPr ratios highlight the potential for a new source of material vital for rare earth magnet production.
Many holes, including the best of the 22 holes reported to date, end in mineralisation, suggesting mineralisation could continue to depth and justify follow-up reverse circulation and diamond drilling.
St George's carbonatite-hosted Araxá deposit mirrors other major non-Chinese rare earths mines such as the United States' only rare earths supplier, MP Materials' Mountain Pass deposit in California, as well as Lynas Rare Earths' Mt Weld deposit in Western Australia.
With five drill rigs active, St George continues to advance resource expansion and definition drilling to further define the new discovery, underscoring the expansion potential of the greater Araxá area.
This discovery looks set to bolster Araxá's status as a world-class rare earths and niobium project and further drilling is justified to confirm the extent and continuity of the mineralisation.
The upcoming results from the remainder of the drilling could put further shine on this new project highlight and lay the groundwork for St George's next move.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
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