Significant Maiden JORC Resource for Tiros Project, Brazil
Toronto, July 18, 2024 AEST (ABN Newswire) - Resouro Strategic Metals Inc. (
ASX:RAU) (CVE:RSM) (8TX:FRA) (RSGOF:OTCMKTS) ("Resouro" or the "Company") is pleased to announce the publication of its maiden JORC compliant Mineral Resource Estimate ("MRE") for the Tiros Titanium and Rare Earth Elements Project in Brazil ("Tiros Project" or "Tiros" or "Project") which marks a significant milestone in the Project's development.
Highlights
Maiden JORC MRE for the Tiros Project of 1.7 billion tonnes (bn tonnes) at 3,900 parts per million ("ppm") Total Rare Earth oxide ("TREO"), 1,100 ppm Magnet Rare Earth Oxides ("MREO") and 12% Titanium Dioxide ("TiO2") in all three resource categories (refer to Table 1 below).
Of the 1.7 bn tonnes, the deposit contains a high grade domain of 120,000,000 tonnes at 9,000 ppm TREO containing 2,400 ppm of MREO and TiO2 of 23%.
The combined Measured and Indicated resources represent 1.0 bn tonnes at 4,050 ppm TREO containing 1,120 ppm MREO and 12% TiO2.
The MRE places the Tiros Project as one of the largest undeveloped titanium and rare earth resource globally and in Brazil.
Table 1: (in link below) JORC-compliant maiden MRE, Tiros Project, Brazil (1,000 ppm TREO cut-off).
Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results. The tonnage and grade figures in the resource statement are rounded off to reflect the relative uncertainty of the estimate, for this reason the summations may not add up.
- The MRE incorporates 4,766 metres of verification drilling including Diamond, Aircore and Auger across 102 drill holes including 20 historical drill holes.
- The maiden MRE is derived from the Central tenements of the Tiros Project, being ~7% of the tenements that comprise the total Tiros Project area.
- The majority of the resource is open laterally and found to be homogeneous in nature.
- Resource exists within Brazil's most advanced mining state (Minas Gerais) with developed infrastructure, existing access to road, rail and port, in a supportive community, and a favourable environmental region which will support the development of the Tiros Project.
President, CEO, Director and Founder, Chris Eager commented:
"Completion of our maiden JORC-compliant Mineral Resource Estimate for the Central Block of the Tiros Rare Earth project marks a pivotal moment for Resouro Strategic Metals" "The 1.7 bn tonnes of Measured, Indicated and Inferred Resource is contained in a flat lying consistently thick, near surface and highly weathered clay like material."
"We consider that the average Resource grades of 3,900 ppm TREO, 1,100 ppm MREO and 12% of TiO2 are well above average for this style of deposit" "The Resource has a discrete domain containing 120,000,000 tonnes at 9,000 ppm TREO containing 2,400 ppm of MREO and TiO2 of 23% which indicates the potential for the Tiros Project to be mined at a high grade in the initial years of production" "Resouro has defined a very substantial resource over just 7% of the land area of the project.
Step out drilling to the North and South demonstrates consistent thicknesses and grades up to 35 kilometers away from the Central Block" "We have completed sufficient resource drilling at Tiros and the huge scale of the Maiden JORC Resource means Resouro does not need to add Resource tonnes. Infill drilling is ongoing for mine planning and Feasibility and Environmental purposes."
"Resouro remains committed to sustainable practices and positive community engagement, ensuring that our growth contributes to the well-being of the regions in which we operate."
I would like to congratulate our Technical and Community Relations Team on the ground at Tiros for the work undertaken to derive a 1.7 bn tonne Resource in a short period of time" I look forward to updating the market on Resouro's progress to completion of our Preliminary Economic Assessment including the ongoing Metallurgical Test Work Programs."
Key Resource Parameters
Atticus Geoscience ("Atticus") has modelled the maiden MRE utilising the results of 102 drill holes across the Tiros central tenements (refer to figures 1* and 2*) including 28 diamond drill holes, 29 Air Core holes, and 25 Auger holes undertaken by Resouro (2023 to 2024) and 1 diamond drill hole and 19 Air Core historical drill holes undertaken by previous tenement owners (Vicenza and Iluka, 2011 and 2016). Atticus and Resouro have undertaken resource modelling by focusing on neighbouring comparable studies and operations within the region and Brazil, and providing a tonnage based on preliminary metallurgy work expected to have reasonable prospects for eventual economic extraction. A conservative assumption of 1,000 ppm TREO (refer to figures 6* and 7*) cut-off was applied to the resource estimation which delivered an MRE of 1.7 bn tonnes @ 3,900 ppm TREO (Measured, Indicated, Inferred) comprising of an outstanding 1,100 ppm MREO (Pr, Nd, Tb, Dy) and 12% TiO2. Notably, the MREO is the weighted average of Pr6O11, Nd2O3, Tb4O7 and Dy2O3 in this announcement (Figure 1*).
The MRE was limited by the aerial topography covering 3,300 ha, which represents approximately 7% of the Resouro tenements that comprise the Project area. The MRE excludes neighbouring Resouro-owned tenements which indicate further potential for expansion.
Maiden Mineral Resource Estimate
The current maiden Mineral Resource Estimate at Tiros, applying a 1,000 pm TREO cut-off, presents 1.7 bn tonnes @ 3,900 ppm TREO with 1,100 ppm MREO (Pr, Nd, Tb, Dy). The Indicated and Measured resources represent 1bn tonnes at 4,050 ppm TREO containing 1,120 ppm MREO and 12.0% TiO2 with a High Grade zone identified as summarised in Table 1* and shown in Figures 3, 4 and 5*. The drilling data to support the High Grade (HG) and Medium Grade (MG) is detailed in the JORC table 1 in appendix 1*. The grade-tonnage curves for the mineral resource estimation are shown in Figures 6 and 7*.
Proposed Future Works
Resouro started the 12,000m air core and diamond drilling survey campaign in September 2023 with the first 4,766 m of drilling reported herein. Following completion of the initial phase, Resouro plans to carry out further topographic surveys over the neighbouring tenements owned by Resouro where drilling has been undertaken in addition to further drilling and metallurgical testwork focussing on areas where stripping ratios are optimal for bulk mining trials to deliver the quickest time frames. This includes:
- In-fill drilling to define further JORC compliant Resource.
- Further metallurgical test work programs with preferred laboratory partners to optimise REE leaching and TiO2 conditions.
- Undertake a Scoping Study with an EPCM partner and Subject Matter Experts in 2024, before undertaking any Prefeasibility Studies.
- Complete a Preliminary Mining and Environmental Baseline survey and studies to submit bulk Mining trials.
- Downstream studies and product testing to align the metallurgical flow sheet with offtake partners.
Peer-Group Comparison
The Company considers that the Tiros maiden MRE places the Project as one of the largest and highest JORC-compliant grade rare earth project known in Brazil. Detailed in the Table below* is Resouro's position against other comparable rare earth projects in Brazil.
*To view the full release with tables and figures, please visit:
https://abnnewswire.net/lnk/K243WUEP
About Resouro Strategic Metals Inc.
Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (OTCMKTS:RSGOF) (FRA:8TX) is a Canadian incorporated mineral exploration and development company, listed on the ASX, TSXV, OTC and FSE, focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Titanium-Rare Earths Project and the Novo Mundo Gold Project. The Tiros project has 28 mineral concessions totalling 497 km2 located in the state of Minas Gerais, one of the best infrastructurally developed states of Brazil, 350 km from the state capital of Belo Horizonte. Resouro's Mineral Resource Estimate for the Tiros Project contains 165 million tonne of titanium dioxide and 5.5 million tonne of total rare earths oxides within a Measured and Indicated Resource of 1.4 billion tonne at 12% titanium dioxide and 4,000 ppm of total rare earth oxides.
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