Axel REE Limited (ASX: AXL) Confirms High-Grade REE at Caladão
Major Discoveries at Caladão Project
Axel REE Limited (ASX: AXL) has confirmed widespread, high-grade total rare earth oxide (TREO) mineralisation at its flagship Caladão Project in Brazil’s Lithium Valley. The channel sampling program revealed consistent high-grade results across an 8km east-west linear area, with significant proportions of magnetic rare earth oxides (MREO) present.
Assay Results Highlight High Grade Mineralisation
Channel samples from seven inactive artisanal mines returned exceptional widths and grades, including CLDCHN 005, which reported 30m @ 5,568ppm TREO with 40% MREO. These findings underscore the potential for Caladão to develop into a district-scale high-grade discovery, as results continued to confirm the extensive lateral spread of REE mineralisation across a surveyed area of 30km², less than 10% of the total target area.
Executive Insights
Managing Director, Dr Fernando Tallarico, stated, “These channel samples confirm that we are in a huge REE-mineralised system. The exploration results validate our approach and bring us closer to a development-ready opportunity.” He further noted the cost-efficiency of mining techniques associated with near-surface mineralisation.
Ongoing Exploration Efforts
The ongoing 20,000m drilling campaign is aimed at establishing a maiden JORC-compliant mineral resource estimate. Preliminary results from the diamond drilling campaign have been promising, reinforcing expectations for continued success as the project moves forward.
This announcement has been approved by the Board of Directors.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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