Equinox Resources Limited (ASX: EQN) (“Equinox Resources” or the “Company”) is pleased to announce RC drilling has commenced and additional high grade surface sample results have been received for its “Mata da Corda” Rare Earth Project, located in province of Patos de Minas, in Minas Gerais State, Brazil.
- Phase 1 RC drilling program has commenced at Mata da Corda REE Project and plans to test the depth of the clay profile across ultra-high grade clay surface sample areas up 10,110ppm TREO.
- Additional assay results from surface clay samples at Mata da Corda Rare Earths (REE) Project in Brazil confirms ongoing High Grade REE clays (Annex 1), including:
- 5,879 ppm TREO (sample EQ-MC-866)
- 5,212 ppm TREO (sample EQ-MC-867)
- 4,733 ppm TREO (sample EQ-MC-592)
- 4,067 ppm TREO (sample EQ-MC-699)
- 3,928 ppm TREO (sample EQ-MC-868)
- 3,690 ppm TREO (sample EQ-MC-856)
- Surface sample results have also revealed significant anomalies in Titanium dioxide, indicating promising potential for a secondary product (Annex 1), including:
- 20% TiO2 (sample EQ-MC-592)
- 19% TiO2 (sample EQ-MC-699)
- 18% TiO2 (sample EQ-MC-736)
- 17% TiO2 (sample EQ-MC-602)
- 17% TiO2 (sample EQ-MC-868)
- 16% TiO2 (sample EQ-MC-575)
- Sample results above were collected from the oxidized clay layer, which generally are weathered and hosts lower levels of mineralisation to what is indicatively directly beneath in the clay. The drilling will confirm the behavior of the grades at depth.
The first RC hole has commenced at tenement 833405/2023, as shown in Figure 2. This area has a concentrated cluster of surface sample results averaging approximately 2500 ppm TREO. This drill hole is situated about 1 kilometer north of the KP Fértil Mine operated by Harvest Minerals. The initial set of drill holes is anticipated to be completed by mid-August. Following this, the drilling program will proceed to target the higher surface sample target anomalies. Our field geologists have identified significant geological features that warrant further exploration.
Equinox Resources Managing Director, Zac Komur, commented:
“The additional surface sample results confirm that Mata da Corda has exceptional district-scale targets, with over half the samples exceeding 2000 ppm TREO across the 972 km² project area. We have partnered with a nimble and cost-effective RC drilling contractor who will mobilise the rig based on high-grade surface sample anomalies for our Phase 1 drilling campaign. Additionally, we are utilizing our own auger drill rigs to gain a comprehensive understanding of the clay profile and to map the clay horizon zoning, allowing us to penetrate the cerium anomalies observed on the surface. The same drilling contractor has also mobilised a drill rig to commence operations at the hard rock monazite sand project in Campo Grande.”
Figure 1. Equinox Resources Mata da Corda Exploration Team commencing the first RC hole at Mata da Corda
Figure 2: Mata da Corda Total Rare Earth Oxides Surface Sample Results.
Investor and Media Contacts
Investor Inquiries:
Equinox Resources
Zac Komur, Managing Director
M: +61 467 775 792
E: zac.komur@eqnx.com.au
Media Inquiries:
Equinox Resources
Kelly-Jo Fry
M: +61 8 6109 6689
E: info@eqnx.com.au
Authorised for release by the Board of Equinox Resources Limited.
COMPETENT PERSON STATEMENT
Sergio Luiz Martins Pereira, the in-country Exploration Manager for Equinox Resources Limited, compiled and evaluated the technical information in this release and is a member of the Australian Institute of Geoscientists (MAIG, 2019, #7341), accepted to report in accordance with ASX listing rules. Sergio Luiz Martins Pereira has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australian Code for Reporting of Regulation, Exploration Results, Mineral Resources, and Ore Reserves. Sergio Luiz Martins Pereira consents to including matters in the report based on information in the form and context in which it appears. The Company confirms that it is unaware of any new information or data that materially affects the information included in the market announcements referred to in this release and that all material assumptions and technical information referenced in the market announcement continue to apply and have not materially changed. All announcements referred to throughout can be found on the Company’s website – eqnx.com.au.
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