Equinox Resources Continues High-Grade Rare Earth Streak in Brazil

Equinox Resources Ltd (ASX:EQN) has again unveiled high-grade rare earth elements from the Mata da Corda Rare Project in Brazil.

Exploration success over the past year has swelled the valuation of Equinox three-fold, with the company now capped at around $43 million.

Brazil continues to emerge as an exploration hot spot for ASX-listed companies, and hosts 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.

Video interview; Meteoric Resources Ltd (ASX:MEI) chairman Andrew Tunks:

Video interview; Axel REE Ltd (ASX:AXL) chairman Paul Dickson:

Mata da Corda

The project is located in the province of Patos de Minas, in Minas Gerais State.

Additional assay samples include another 10 results higher than 3000 ppm total rare earth oxide.

Surface samples have also revealed anomalies up to 18.9% titanium dioxide.

News will continue to flow with assays from the Campo Grande auger and reverse circulation program are still pending.

Potential secondary product

Zac Komur, managing director, commented:

“Our surface sampling has also revealed anomalies in titanium, positioning us to add a valuable secondary product on top of our rare earth clay basket.

“The exploration team has done an exceptional job and the results have identified drill targets across three prospects.

“As we navigate through the necessary environmental approvals and land access requirements, we are preparing to commence drilling in early Q3 CY2024.”

 

 

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