Axel REE (ASX:AXL) has more than doubled its Woolrich mineral resource estimate (MRE) to 265 million tonnes (Mt) while establishing a maiden indicated resource of 110Mt.
The updated Woolrich MRE totals 264.60Mt @ 1,100.51 parts per million (ppm) total rare earth oxides (TREO) and 34.72ppm gallium (Ga). This represents a 107% increase in tonnage compared with the previous entirely inferred resource of 128Mt @ 1,013ppm TREO and 36.6ppm Ga.
Approximately 42% of the updated Woolrich resource is now classified as indicated, comprising 110.08Mt @ 1,073.39ppm TREO and 35ppm Ga. The remaining 154.51Mt sits in the inferred category @ 1,119.84ppm TREO and 37.05ppm Ga.
The resource features a 500ppm TREO cut-off and is constrained within an optimised open pit shell.
Managing Director Patience Mpofu says this is a significant development milestone for the Caladão Project, which hosts the resource.
“The importance of this upgrade goes beyond resource growth. Woolrich is the area we are prioritising for our ISR [in situ recovery] development program, and the increased geological confidence provides a stronger foundation for integrating our metallurgical, hydrogeological, and field data,” Mpofu says.
The Woolrich update increases the global Caladão MRE by 24% to 708.6Mt at 1,443ppm TREO across four deposits. Meanwhile, the gallium MRE has grown 31% to 575.7Mt @ 37.05ppm Ga.
Axel plans to continue magnesium sulphate leach optimisation and hydrogeological characterisation to support the design of a controlled Woolrich ISR field validation program.
The program aims to test solution migration, containment, transmissivity, recovery, and wash-out behaviour under field conditions.
The company holds the Woolrich deposit under exploration permits 830.456/2023, 830.461/2023, 830.462/2023, 830.465/2023, and 830.469/2023 in Minas Gerais, Brazil.
Axel REE is a critical minerals explorer and developer focused on its ionic clay-hosted rare earths and gallium portfolio in Brazil.
Write to Paula Fabe at Mining.com.au
Main image: Axel REE
