Brazilian Critical Minerals (ASX:BCM) has begun its 2024 exploration program at the Ema Rare Earths Project in Brazil, with four auger rigs operating within a central “high-grade” zone.
The four exploration auger rigs at Ema will be drilling 240-holes over a 12-week program.
The goal is to move sufficient tonnes of material from the inferred category to the higher confidence indicated category, which will support the initial mining operations that are being considered.
An infill drilling program is also being conducted to collect geochemical and hydrogeological information to support advanced development and economic studies through feasibility.
Once completed, Brazilian Critical Minerals, which has a market capitalisation of $14.12 million, will undertake an updated resource estimate, scheduled for release in the fourth quarter of this year.
The company’s board has also approved a formal Scoping Study on the technical and economic development of the Ema Project, which will examine the potential for a stand-alone low capital treatment/development pathway for the project.
Brazilian Critical Minerals has solicited and received several quotations from Australian and Brazilian engineering houses with suitable rare earths experience to manage and expedite a Scoping Study.
A final decision is expected in the first half of July, with the study anticipated to be completed in the fourth quarter of this year.
Additionally, several rounds of metallurgical bench-scale testwork have been completed in Brazil and Australia.
The company says results have shown that Ema has some of the world’s highest rates of rare earth recoveries for any ionic clay deposit in the world, averaging 68% magnet rare earths oxide.
Results from column leaching tests are also expected to be received over the coming weeks, with an “ultra-low capex” option to be included in the Scoping Study for assessment.
Managing Director Andrew Reid says the company is in the fortunate position of having to evaluate several low capex entry start-up processing routes.
“[These] will guide us through the Scoping Study period and ultimately define the process flowsheet, which is currently being performed at ANSTO,” he says.
“The Ema Project, which has similar physical characteristics to the large Chinese ionic clay deposits, is shaping up to be a low capex, low opex, low risk project that is unique outside of China, producing a product which is ready to go into any rare earth separation plant anywhere in the world.”
Brazilian Critical Minerals says environmental baseline data collection will resume this month, with the aim to submit an application for a preliminary licence in the first quarter of next year.
The company is also engaging with multiple parties interested in offtake arrangements.
Brazilian Critical Minerals is a mineral explorer and mineral processing technology company focused on its assets in Brazil. The company’s assets are considered prospective for gold, platinum group elements, base metals, and rare earths.
Write to Aaliyah Rogan at Mining.com.au
Images: Brazilian Critical Minerals
