Equinox Resources Ltd (ASX:EQN) has picked up rare earth elements grading up to 10,110 parts per million (ppm) from clay surface sampling at its Mata da Corda project in Brazil’s Minas Gerais state, with notable anomalies in titanium dioxide also identified, suggesting the possibility of building another project at the site.
Along with the 10,110 TREO (total rare earth oxide) figure, four other samples showed the continuing presence of high-grade rare earth mineralisation at Mata da Corda. These included 4644ppm, 2435ppm, 2399ppm, 2271ppm, and 2221ppm.
Additionally, six samples provided evidence of titanium dioxide grading 25%, 23%, 22%, 19% and two grading 17%.
But Equinox still wants to dig deeper – literally – since the samples were yielded from the project’s oxidised clay layer, which tends to host lower levels of mineralisation than that found underneath in the clay, with the company also noting the presence of a cerium anomaly in the samples, which is analogous to ionic clay deposits.
Therefore, a drilling contract has already been confirmed and RC (reverse circulation) drill rigs deployed, with work to follow up imminently: and an Environmental Licensing Exemption has already been acquired for Mata da Corda, with this set to enable geological research and drilling operations.
Managing Director, Zac Komur said the results allowed Equinox to build on what was already a strong portfolio of REE projects.
“These surface results continue to showcase the incredible potential of our Mata da Corda project,” he said.
“We are steadfast in our commitment to fast track our REE projects in Brazil as we progress drilling activities across both Mata da Corda and Campo Grande, our REE projects provide us with the potential of all REE geologies from hard rock, monazite sand and ionic clay.
“The company looks forward to releasing further assay results on Mata da Corda as they come to hand.”
Equinox has been trading at 30.5 cents.