Viridis Mining and Minerals (ASX: VMM) has reported ‘outstanding’ results from its maiden auger and diamond drilling programme at the Capão da Onça (CDO) Prospect, located in the western quarter of the Alkaline Complex, where Viridis holds a dominant land position of ~14km2. The CDO Prospect is a new discovery area that has returned the highest grades of rare earth elements at Colossus to date.
Additionally, the drilling programme confirmed the presence of widespread and homogenous REE mineralization at the Fazenda mining licence and Cupim South, with ‘world-class’ thickness and grades of REEs being intersected at depth. In addition, auger drilling across three other licenses has revealed exceptional high-grade REE assays, with all holes ending in mineralization.
The results demonstrate the enormous potential of Colossus, which is one of the largest and most prospective REE projects in the world. Viridis is confident that Colossus will become a significant source of REEs, especially the magnet rare earth oxides (MREOs), which are essential for the green energy and technology sectors.
Viridis CEO, John Smith, commented: “We are delighted with the results from our drilling programme, which have exceeded our expectations and confirmed the world-class nature of Colossus. The discovery of high-grade REEs at CDO is a game-changer for Viridis, as it opens up a new region of the Alkaline Complex that has never been explored before. We are excited to continue our exploration and development activities at Colossus, which we believe will deliver substantial value for our shareholders and stakeholders.”
Results highlights include:
- CDO-AG-071: 7.0m @8,277ppm TREOA, ending in mineralization, from 1m, ending in 8,275ppm TREO. Including last 4m @9,447ppm TREO [35% MREOB]
- CDO-AG-059: 6.0m @5,248ppm TREO, ending in mineralization, from 0m, ending in 3,646ppm TREO
- CDO-AG-006: 10.0m @3,338ppm TREO, ending in mineralization, from 1m, ending in 3,093ppm TREO
- CDO-AG-062: 13.0m @3,187ppm TREO, ending in mineralization, from 0m, ending in 1,402ppm TREO
- CDO-DDH-002: 10.0m @3,551ppm TREO [24% MREO] within a broader section of 15.0m @2,712ppm TREO from 0m
Diamond drilling assays:
- FZ-DDH-006: 33.5m @3,091ppm TREO [28% MREO] within a broader section of 48.5m @2,662ppm TREO from 0m
- CS-DDH-005: 27.0m @2,903ppm TREO [27% MREO] within a broader section of 62.5m @2,218ppm TREO from 0m
Auger drilling assays:
- CDP-AG-001: 5.0m @5,313ppm TREO, ending in mineralization, from 2m, ending in 6,646ppm TREO. Including last 2m @6,924ppm TREO [39% MREO]
- CDP-AG-003: 6.0m @5,194ppm TREO, ending in mineralization, from 3m, ending in 5,467ppm TREO. Including last 3m @5,703ppm TREO [37% MREO]
- CDP-AG-023: 8.0m @3,606ppm TREO, ending in mineralization, from 0m, ending in 4,349ppm TREO. Including last 3m @4,606ppm TREO [36% MREO]
- CDP-AG-033: 6.0m @3,564ppm TREO, ending in mineralization, from 0m, ending in 3,122ppm TREO
- CDP-AG-002: 4.0m @3,983ppm TREO, ending in mineralization, from 0m, ending in 3,494ppm TREO
- CJ-AG-019: 11.0m @5,081ppm TREO, ending in mineralization, from 0m, ending in 7,790ppm TREO. Including last 5m @7,622ppm TREO [38% MREO]
To read more about this, please visit www.viridismining.com.au
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