Patagonia in preparations for new Brazil niobium concessions

Patagonia Lithium (ASX:PL3) is gearing up to begin a four to five-day soils and stream sampling program across recently granted rare earth element (REE) concessions in the Goiás State, Brazil. 

The $7.02 million market capitalisation company says its new concessions, which cover 3,262 hectares, have been granted for three years and sit adjacent to the CMOC niobium mine.

CMOC Group (SHA:603993) is the second-largest producer of niobium globally and also second-largest producer of phosphate fertilisers in Brazil. 

Patagonia is securing a field crew to undertake the soils and sampling program while its geology consultants, GE21, identify and describe rock outcrops, analyse local geology, and correlate to the geophysics work completed. 

A pan concentrate survey has also been planned to identify heavy REE-bearing minerals, such as monazite, xenothermite, and bastnasite in ionic clays and outcrops. 

Patagonia Executive Chairman Phillip Thomas says being close to the Catalāo rare earth deposit demonstrates that the company is in the right area with the right geophysics.

Catalāo is a niobium mine which houses two alkaline-carbonatite complexes, dubbed Catalāo I and II, respectively. It is wholly owned by Mosaic Fertilizantes P&K, a wholly owned indirect subsidiary of phosphate and potash miner Mosaic (NYSE:MOS).     

“Catalāo I is part of the Alto Paranaíba igneous province in the Goiás Province of Brazil,” Thomas says.

“Currently, niobium is produced in the complex as a by-product of the Chapadão phosphates mine. Monazite, the most common rare earth mineral identified in the mine feed, occurs as Ce-rich and La-rich varieties that can be easily distinguished. This is what we will be targeting.”  

Patagonia Lithium has two lithium brine projects, being Formentera/Cilon in Salar de Jama, Jujuy province and Tomas III at Incahuasi Salar in Salta Province of northern Argentina in the ‘lithium triangle’. 

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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.