Magnum Mining and Exploration (ASX:MGU) reports broad anomalous rare earth element enrichment across an 8.3km2 area at the Feirinha prospect within its Palmares Project in Brazil.
The company received assays from 75 reverse circulation holes totalling 1,145m drilled to 15m depth. Key results include 15m @ 2,190 parts per million (ppm) total rare earth oxide (TREO) from surface in hole PAL‑RC‑25‑0035, including 8m @ 3,372ppm TREO from 6m.
Other intersections include 15m @ 1,755ppm TREO from surface, including 14m @ 1,810ppm TREO, and 15m @ 1,071ppm TREO from surface, including 4m @ 2,492ppm TREO from 10m.
Neodymium and praseodymium, the principal magnet rare earths, account for 19.3% of the contained TREO across the prospect.
“These first results from Palmares are highly encouraging and demonstrate broad, anomalous TREO enrichment within approximately 8.3km² area tested at the Feirinha Prospect,” Managing Director Antonio Vitor Junior explains.
The 75‑hole program was designed on an approximately 200m grid to test shallow distribution and depth extension of mineralisation beneath previously announced surface anomalies.
Meanwhile, ground geophysical surveys provided additional spatial targeting context.
Additional ‘notable’ results include 15m @ 874ppm TREO from surface, including 2m @ 3,970ppm TREO from 4m, and 15m @ 774ppm TREO from surface, including 2m @ 3,681ppm TREO from surface.
The company completed 117 drill holes at Feirinha, with assays reported for 75 holes comprising the complete 70-hole southern program and five northern holes.
A further 42 northern holes totalling approximately 630m were drilled for topographical and lithological control but were not submitted for assay.
Magnum will now select representative composites from Feirinha for controlled desorption, mineralogical, and variability testwork to assess mineral hosts, desorbable response, impurities, and radionuclide characteristics.
Focus shifts to Piracanjuba as Feirinha testwork advances
With the initial Feirinha drilling program complete, Magnum is now turning its attention to the next phase of work across its Brazilian portfolio, with desorption testwork on selected Feirinha composites and continued advancement of its key projects.
The Feirinha prospect is held under a single granted exploration permit covering approximately 1,933 hectares in Bahia State, Brazil.
The project lies within the Jequié Complex of the northeastern São Francisco Craton and includes high‑potassium granitoids and pegmatites, subordinate mafic to intermediate rocks, and thorium‑enriched monazitic leucogranites.
No further drilling is planned at Feirinha under the current program while the company completes desorption screening of selected samples.
Magnum continues to focus on its flagship Piracanjuba Project within the Azimuth Rare Earth Element Project, where a systematic 10,000m auger drilling program is underway with nine rigs at site.
The company remains on track to deliver a mineral resource estimate at Piracanjuba in November, subject to exploration results.
Magnum Mining and Exploration is an Australian explorer advancing a portfolio of rare earth, copper, and gold projects across Brazil and the US.
Write to JC Villarba at Mining.com.au
Images: Magnum Mining and Exploration
