Axel REE Limited (ASX:AXL) Confirms High-Grade REE and Gallium Intercepts at Caladão Project
Operational Highlights
Axel REE Limited (ASX:AXL) reported exceptional high-grade rare earth elements (REE) and gallium intercepts from its Caladão Project in Brazil. The fifth batch of assays confirmed over 60 km² of mineralisation across Area A and Area B. Notable results include CLD-DDH-036 with 49.92m @ 5,909ppm TREO from 27m, and high-grade gallium intercepts such as CLD-DDH-029 with 17m @ 85g/t Ga₂O₃ from surface.
Future Plans
The company is initiating the modelling of its maiden Mineral Resource Estimate (MRE) with SRK and advancing metallurgical testing with ANSTO. Auger drilling has resumed at the Caladão and Caldas Projects, with additional assay results expected soon.
Executive Comments
Managing Director Dr Fernando Tallarico stated, “We are pleased with the results from our Phase One drilling program at the Caladão Project. The final set of results have again confirmed high-grade and thick gallium and REE mineralisation, which occur in the upper and lower saprolite zones, respectively. An important outcome of this set of assays is the extension of gallium mineralisation up to 5km beyond the Caladão granite into the leucogranite host rock, significantly expanding the mineralised area. We have initiated the modelling of our maiden Mineral Resource Estimate (MRE) with SRK, which has visited the Caladão site and commenced the dataset review as part of the MRE process. We are also progressing our metallurgical testing with ANSTO. Auger drilling has resumed at both the Caladão and Caldas Projects in the Poços de Caldas, with further assay results to be released as they are returned from the lab.”
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 recommended BHP Group. 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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