Australian Mines Limited (ASX:AUZ) Announces Strong REE Drilling Results at Jequie Project
Operational Achievements
Australian Mines Limited completed a comprehensive auger drilling programme at its Jequie Rare Earth Element (REE) Project in Bahia, Brazil. The programme included seventy-two shallow auger drill holes, totaling 500.6 meters over two priority REE-in-soil targets identified in a previous ASX announcement.
Assay Results
The drilling intersected near-surface intervals enriched in Total Rare Earth Oxides (TREO) over vertical intervals up to 20 meters. Notably, drill hole DAME-FT-14 returned 15.0 meters @ 1720 ppm TREO, including 3.0 meters @ 3055 ppm TREO. Additionally, hole DAME-FT-12 returned 2.0 meters @ 1842 ppm TREO. Sixty-nine percent of the assays exceeded 400 ppm TREO, indicating substantial REE enrichment likely related to Ionic Clay Adsorption within the regolith.
Geological Insights
The Jequie South target is controlled by a conjugate set of major regional faults, which have facilitated the concentration of REE through preferential weathering and groundwater percolation. In contrast, the Jequie North target showed less developed regolith profiles, suggesting physical concentration of REE-rich minerals from underlying source rocks. The assay data revealed a depletion of Cerium (Ce) relative to other REE in Jequie South, reinforcing the Ionic Clay Adsorption hypothesis.
Future Exploration Plans
Australian Mines Limited plans to undertake additional geological mapping, geochemical sampling, and auger drilling to expand the known TREO enrichment areas. Metallurgical test work is also proposed to better understand the exploration potential and inform further development of the Jequie REE Project.
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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