Meteoric Resources expands measured resources of Caldeira rare earths project by 246%
ASX-listed Meteoric Resources has increased the measured resources of its Caldeira project by 246% to 128-million tonnes grading 2 815 parts per million (ppm) of total rare earth oxide (TREO), located across the Capäo do Mel, Figueira and Soberbo deposits, in Brazil.
MD Stuart Gale says the upgrade of indicated resources to measured resources at Caldeira, as the company finalises the project's definitive feasibility study, is an important step to increase geological and metallurgical confidence in Caldeira, reducing future risk and uncertainty.
From a future operational standpoint, the improved understanding of the Caldeira resource characteristics supports efficiencies in mine planning and operational reliability. This, in turn, delivers more precise mine scheduling, better recovery and grade control, and lower operational risks during production.
"The Caldeira project continues to prove its Tier 1 status for ionic absorption clay rare earths deposits in the world, with a combination of large tonnage, high-grade and excellent recoveries, as well as scope for growth," Gale states.
The global mineral resource estimate for the Caldeira project currently totals 1.6-billion tonnes grading 2 317 ppm TREO, including magnet rare earth oxide grades of 518 ppm, which comprises 22% of the TREO basket.
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