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Highlights
- Axel REE (AXL) confirms high-grade REE and gallium at Caladão
- Metallurgical and resource estimation studies underway
- Strategic importance of gallium highlighted amid global demand
Axel REE (ASX:AXL) has reported promising advancements in its exploration efforts at the Caladão project in Brazil, confirming the presence of high-grade rare earth elements (REE) and gallium. This discovery places the project among the few globally to offer such a unique combination of critical minerals.
Recent assay results from the fifth batch of testing have shown consistent high-grade REE and gallium mineralization. These findings are significant as they confirm the potential of the Caladão site to become a key player in the global market for these critical minerals. The results indicated notable mineralization thicknesses, including a 49.92m stretch with high concentrations of total rare earth oxides, starting from a depth of 27 meters.
Dr. Fernando Tallarico, Managing Director of Axel REE, expressed satisfaction with the phase one drilling results, emphasizing the strategic extension of gallium mineralization. This extension spans up to 5km beyond the initial granite sites into surrounding leucogranite, considerably expanding the known mineralized area.
In response to these encouraging outcomes, Axel has engaged SRK Consulting to commence a detailed mineral resource estimate (MRE) program. This program aims to quantify the deposits within a 35 square kilometer high-grade zone known as Area A, with plans to extend the assessment to a further 25 sq km zone in Area B.
Concurrently, Axel REE has partnered with the Australian Nuclear Science and Technology Organisation to initiate comprehensive metallurgical studies. These studies are focused on optimizing processes such as leach recoveries and impurity removal, crucial for maximizing the quality and yield of extracted REE and gallium.
The strategic value of gallium has recently been underscored by global market shifts, including export restrictions by major suppliers such as China. These dynamics have propelled the metal’s price and importance, marking it as a critical component for various high-tech applications, including semiconductors and photovoltaic devices.
Furthermore, Axel has resumed auger drilling at the Caladão project, covering an area where initial findings suggest extensive mineralization. This ongoing drilling effort is part of a broader strategy to enhance resource confidence and expand the scale of the project, ensuring that Axel REE can capitalize on the growing demand for these vital resources.
With these developments, Axel REE (AXL) not only aims to solidify its foothold in the critical minerals sector but also contributes to the broader economic and technological advancements driven by these essential resources.
