Viridis Mining’s Colossus Project Redefines Rare Earth Resource Standards

3 min read | January 22, 2025 11:47 AM AEDT | By Team Kalkine Media

Viridis Mining’s Colossus Project Redefines Rare Earth Resource Standards — Image source: shutterstock

Resource Update Overview

The revised MRE incorporates data from both the Northern Concessions and the Southern Complex, with the latter contributing to a substantial expansion of the resource. The inclusion of the Tamoyo Prospect, which reported an impressive 770ppm MREO within 18Mt @ 2,896ppm TREO, further strengthens the project’s scope.

Viridis reported that within the total resource, a premium-grade segment of 106Mt @ >4,000ppm TREO and >1,000ppm MREO (26% MREO/TREO) has been delineated. This ensures a long-term, high-value feedstock to support strong project economics.

Colossus: A Global Benchmark

The Colossus Project has established itself as the premier IAC REE development globally, featuring:

Measured & Indicated Resource of 329Mt @ 2,680ppm TREO and 659ppm MREO, marking the largest and highest-grade accumulation in this category.
High-value MREOs representing 25% MREO/TREO, well above publicly known peers.
Exceptional metallurgical recoveries using a near-neutral pH solution, further enhancing operational efficiency.

Viridis noted that ongoing exploration at the Southern Complex and other greenfield concessions has the potential to significantly expand the resource, as only 38% of Centro Sul has been drilled so far.

Market Impact and Management Commentary

The announcement triggered a positive market response, with Viridis Mining’s share price surging 16.3% to 45.6 cents on January 22, 2025.

Viridis emphasized the strategic value of Colossus’ enriched MREO content and environmentally friendly processing design. The company stated that its Mixed Rare Earth Carbonate (MREC) recoveries, combined with superior resource grades, position Colossus as the most economically viable project of its kind

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