Enova Mining (ASX:ENV) intends to embark on an extensive resource delineation and resource definition program at the CODA Project in Brazil.
This news comes after initial channel and pit sampling returned grades up to 5,481 parts per million (ppm) total rare earth oxide (TREO).
The peak rare earths assays from the surface sampling program conducted within CODA recorded values exceeding 2,000ppm TREO. Some of these results include 4,249ppm TREO, 3,611ppm TREO, and 3,597ppm TREO.
Enova Mining, which has a market capitalisation of $7.87 million, says these assays highlight the presence of “significant high-grade” rare earths mineralisation, providing “strong” evidence for the potential of a “high-grade” exploration target in the area.
CEO Eric Vesel says the recent sampling on the CODA tenements provides the company with compelling evidence of the potential extent of mineralisation throughout its tenements.
“High-grade mineralised zones exposed in the valley cuts confirm geological continuity across the tenements which are particularly encouraging,” Vesel says.
“These regional findings bring us one step closer to unlocking the full value of this promising region.
“Enova’s Brazilian team has successfully completed initial surface sampling, and through their meticulous work, they have provided critical insights into the area’s mineral potential and opening up new possibilities for the next phase of exploration.”
In the next stage of exploration, a drilling program will be planned for resource delineation and will be executed to test the depth and continuity of the mineralised zones in CODA East and CODA Central.
The current drilling program will continue in CODA North for precise delineation of resources and aiming to evaluate the geological and grade continuity.
Enova Mining also remains committed to develop its Charley Creek Rare Earth Project, with ongoing metallurgical characterisation work proceeding without disruption.
The CODA tenements overlay the Patos geologic formation, with rare earths enriched ionic adsorption clays.
Enova Mining is a progressive exploration company focused on unlocking the vast mineral potential of its tenements in mining-friendly regions such as the Northern Territory in Australia and the Minas Gerais region of Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Enova Mining
