Enova Mining (ASX:ENV) has begun a maiden drilling program at its CODA Rare Earths Project in Minas Gerais, Brazil, to delineate resources and guide follow-up campaigns to unlock additional areas.
The program will consist of 6,000m of aircore drilling and is expected to take less than a month to complete. Assays will be submitted weekly and will take about one month for results to be received.
Enova, which has a market capitalisation of $20.11 million, has engaged with drilling contractors and is undertaking land access reconnaissance, while also progressing arrangements with land owners.
Managing Director Eric Vesel notes historic drilling had uncovered thick intersections of mineralisation, with results consistently above the cut-off grade, which he says is “remarkable” given that some holes are broadly spaced and in different tenements.
“The phase one drilling campaign expects this consistency to continue, and closer spaced drilling is likely to amalgamate these holes into potential resources,” Vesel says.
“Enova is well positioned; having identified prospective drilling areas, gaining access to these drill sites, coordinated an experienced on-ground team and gained funding to commence drilling. The campaign will be rapid and effective, providing impetus for a phase two follow-up program.”
CODA covers 153.3km2 and is thought to host highly prospective ionic absorption clay rare earth tenements that sit on the Patos formation in Minas Gerais.
Enova Mining is a mineral explorer focused on discovering and developing rare earths needed for a sustainable future.
Write to Aaliyah Rogan at Mining.com.au
Images: iStock
