Viridis Mining and Minerals (ASX:VMM) says metallurgical testwork across its Colossus rare earths project in Brazil has delivered the highest average ionic recoveries for bulk testing globally.
Maiden bulk composite testwork — completed by SGS-Geosol Laboratories — comprised 37 holes for 91 samples, with northern concessions providing a head grade of up to 4,984 parts per million (ppm) total rare earth oxides (TREO), including 32% of neodymium, praseodymium, dysprosium, and terbium.
Viridis Mining reports the overall average recovery for dysprosium and terbium is 65%, which the company says is the “highest” known global average.
CEO Rafael Moreno says the results position Colossus as a “leading project worldwide” and bodes well for delivering a low CAPEX and OPEX critical minerals asset.
“The consistency of the results confirm that the bulk of our rare earth mineralisation is ionically bonded onto clays. This can be liberated into a high-value REE chemical product simply by washing the clays with a salt solution at room temperature, e.g., Ammonium Sulfate,” he says.
Unlike hard-rock rare earth projects, Colossus won’t require blasting, corrosive acids, high temperatures and pressures, toxic fumes, and radioactive waste streams to extract rare earths, allowing Colossus to avoid the associated significant economic and environmental implications.”
The company is now actively engaging the Australian Nuclear Science and Technology Organisation (ANSTO) to do metre-by-metre drillhole testing, upon testwork being “incredibly encouraging.”
Drillhole testing aims to uncover spot locations of higher recoveries at each of the key concessions.
At the Northern Concessions, drilling and environmental permitting are progressing, as well as key development activities including resource modelling and a Scoping Study.
Following news of the high recoveries, Viridis has entered a trading halt as pending an announcement on a capital raising.
The Colossus Project is considered to be prospective for rare earths and lies in Minas Gerais, Brazil.
Viridis Mining and Minerals is a resource explorer and developer focused on its assets in Brazil, Canada, and Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Viridis Mining and Minerals
