Equinox Resources’ Awaits Maiden Drilling Results Near Brazilian Rare Earth’s Pele Discovery

Equinox Resources Ltd (ASX: EQN) is set to increase near-term news flow focused on rare earths in Brazil.

A maiden drilling program has wrapped up at the Rio Negro hard rock rare earth prospect, strategically located just 20 kilometres away from Brazilian Rare Earth Ltd’s (ASX: BRE) Pele Discovery.

The program included 126 auger and 3 reverse circulation holes, resulting in detailed geological profiles with saprolite clay, sand, and hard rock intercepts.

Assays are anticipated in mid-June.

Next up

Drilling is also set to commence in late June early or July at the Mata da Corda Rare Earth Clay Project.

Multiple initial surface samples returned exceptionally high grades up to 5,024ppm total rare earth oxide.

Well-funded

Equinox is capped around $26 million, and following a recent raise, is well-funded to advance programs with $6 million in cash.

Brazil abundance

Brazil has the third largest rare earths reserves in the world.

The country has been exploring its rare earth resources, and there are ongoing efforts to develop these reserves into commercially viable operations.

Importance of rare earths

Rare earth elements play a crucial role as inputs in various cutting-edge applications, such as battery alloys, catalysts, ceramics, and metal alloys.

The demand for rare earths is on the rise, particularly in the production of high-strength permanent magnets used in power-dense electric motors for electric vehicles and wind turbines.

This growth in demand aligns with the expanding production of electric vehicles and wind turbines, which is expected to accelerate rapidly.

 

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