Enova Mining Higher on Exceptional Rare Earth Grades in Brazil

Enova Mining Ltd (ASX:ENV) is trading higher on clocking high-grade Rare Earth hits described as “exceptional” by the company.

These clay-hosted intersections were observed at its Poços tenements in Brazil during an auger sampling program.

Notably, the highlights were 5,158 ppm TREO, 5,042 ppm TREO, 4,650 ppm TREO, providing guidance for a high-grade exploration target at Poços.

Moving forward, Enova aims to replicate the success of its peers in this region who is known for hosting ‘world-class’ rare earth discoveries.

The market welcomed the news with shares trading as high as A$0.15, up 15.3% from previous close.

Second largest occurence

The Poços de Caldas Alkaline complex massif represents the second largest known alkaline igneous occurrences worldwide.

Located in southeastern Brazil, it extends over an area of more than 800 square kilometres

At the complex , lateritic and allitic weathering of phonolites and nepheline syenites with magmatic hydrothermal REE enrichments further elevated metal concentrations.

In most cases, weathering breaks down REE minerals, which may then be dispersed into the sub-surface strata, adsorbed in their ionic form onto mineral surfaces, especially clays.

The latter process can generate Ionic Adsorption Clay (IAC) deposits from which the REEs are relatively easily recovered.

Regional location of Poços tenements

What’s next         

“Overall, the Poços results have returned exceptional nearsurface grades which has significant unexplored deeper saprolite strata worthy of follow up exploration,”said MD Eric Vesel

The company is assessing results from the current exploration program and the potential for future air-core drilling program.

The future decisions to undertake work, would depend on the evaluation of potential of mineralisation within these tenements.

 

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