Brazilian Critical Minerals (ASX:BCM) is finalising a Scoping Study for the Ema Project in Brazil, after updating the mineral resource estimate to 350 million tonnes @ 778 parts per million total rare earth oxide.
Over the past six months the company has been focusing on drilling the central starter zone at the ionic rare earths project, and has now defined a 350 million tonne MRE with 36% of the volume in the higher confidence indicated category.
The Starter Zone’s resource contains 126 million tonnes @ 772 parts per million total rare earth oxide in the indicated category.
Managing Director Andrew Reid says this announcement is a crucial step on the company’s path to developing Ema.
“We expect the majority of the remaining starter zone inferred material to be converted to the indicated category once all final assays are received. We are now focused on finalising the Scoping Study and commencing the important permeability field trials ahead of Feasibility Study commencement,” Reid says.
Reid adds that Scoping Study has been developed to leverage the project’s competitive advantages, focusing on a low-capital start-up strategy. It will outline a long-life, low-cost and low risk start-up rare earth project that has potential to maintain solid cashflow margins throughout the rare earth price cycle once Ema is in production.
Brazilian Critical Minerals is an explorer based in Perth, Western Australia. The company is primarily focused on discoveries in Brazil that are considered prospective for critical minerals.
Write to Aaliyah Rogan at Mining.com.au
Images: Brazilian Critical Minerals
