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Highlights
- Equinox reports high-grade titanium findings in Brazil.
- Drilling results show significant titanium and rare earth oxide grades.
- MRE anticipated in early 2025 for the Mata da Corda project.
Equinox Resources (ASX:EQN) has reported promising developments from its Mata da Corda titanium and rare earths project in Brazil, revealing high-grade titanium findings that could set the stage for an impactful mineral resource estimate (MRE) in the coming year. The project covers an expansive 972-square-kilometre area, with recent drilling activity focused on a small fraction of the site.
Drilling results from 35 holes have highlighted impressive titanium grades, including intercepts such as 10.2 meters at 15.0% titanium dioxide (TiO₂) and 15 meters at 13.6% TiO₂. Of particular note, 43 intercepts exceeded 12.0% TiO₂, spanning a total of 85.6 meters. These high-grade concentrations were primarily located near the surface, within the top 15 meters, enhancing the project's potential for accessible extraction.
The company has also recorded significant data for total rare earth oxides (TREO), with noteworthy levels of magnetic rare earth oxide (MREO) content. Notable results included a three-meter intercept grading 6,847 parts per million (ppm) TREO, of which 27% comprised MREO. Additional data indicated 31 intercepts exceeding 3,000 ppm TREO across a combined 53.4 meters.
Equinox is advancing drilling operations at the Patos and Pindaibas prospects, which collectively represent just 1.4% of the project’s total area. The company plans to release an MRE for the Mata da Corda project in the first half of 2025. This estimate will incorporate ongoing drilling data, with expectations that the broader project area may yield further high-value discoveries.
Market sentiment reflected the positive news, with Equinox’s shares climbing to 14.5 cents by early afternoon, marking a 3.57% increase. This response underlines investor interest in the company’s progress as it works toward unlocking the full potential of the Mata da Corda project.
The recent results not only highlight the high-grade nature of the titanium deposits but also demonstrate the presence of valuable rare earth elements, underscoring the strategic significance of this project in the global critical minerals sector. With more exploration and analysis on the horizon, Equinox continues to solidify its position in the titanium and rare earths space.
