Resouro Strategic Metals (ASX:RAU) has delivered a maiden 1.7-billion-tonne resource estimate for the Tiros Titanium and Rare Earths Project in Brazil.
The total resource estimate contains 1.7 billion tonnes @ 3,900 parts per million (ppm) total rare earth oxide (TREO), 1,100ppm magnet rare earth oxide (MREO) and 12% titanium dioxide.
Resouro Strategic Metals, which has a market capitalisation of $45.57 million, says of the 1.7 billion tonnes, the deposit contains a “high-grade” domain of 120 million tonnes @ 9,000ppm TREO, containing 2,400ppm of MREO and titanium dioxide of 23%.
The higher confidence measured and indicated resources currently sit at 1 billion tonnes @ 4,050ppm TREO, containing 1,120ppm MREO and 12% titanium dioxide.
The resource estimate, modelled by Atticus Geoscience, was based on 4,766m of verification drilling, including diamond, aircore, and auger across 102 drillholes, which included 20 historical drillholes.
Majority of the resource is open laterally and found to be homogeneous in nature.
CEO Chris Eager says completing the resource estimate for the central block of the Tiros Project marks a “pivotal moment” for the company.
“Resouro has defined a very substantial resource over just 7% of the land area of the project,” he says.
“Step-out drilling to the north and south demonstrates consistent thickness and grades up to 35km away from the central block.
“We have completed sufficient resource drilling at Tiros and the huge scale of the maiden JORC resource means Resouro does not need to add resource tonnes. Infill drilling is ongoing for mine planning and feasibility and environmental purposes.”
The company plans to conduct further topographic surveys over the neighbouring tenements, where drilling has been undertaken, in addition to further drilling and metallurgical testwork focusing on areas where stripping ratios are optimal for bulk mining trials to deliver the quickest time frames.
Resouro Strategic says this includes infill drilling and further metallurgical testwork, alongside a Scoping Study and downstream studies to align the metallurgical flowsheet with offtake partners.
Resouro Strategic Metals is a Canadian mineral explorer and developer focused on the discovery and advancement of economic mineral projects in Brazil.
Write to Aaliyah Rogan at Mining.com.au
Images: Resource Strategic Metals
