Aclara Resources announces updated MRE for Brazil project

Highlights

• The inferred mineral resource for the Carina Module is estimated at 298 Mt, which represents a 77% increase compared to the previously reported inferred mineral resource of 168 Mt.
• The estimate of contained amounts of magnetic elements increased approximately 69% compared to the amount reported in the 2023 Resource Statement, reflecting an increase in contained heavy rare earths (dysprosium and terbium (DyTb)), from 8240 t to 13 470 t, and an increase in contained light rare earths (neodymium and praseodymium (NdPr)), from 49 832 t to 84 565 t. Rare earth magnetic elements (i.e. DyTb and NdPr) are critical to the production of permanent magnets that are used in electric vehicles and wind turbines.
• Metallurgical recoveries of rare earths from the Carina Module remain compatible with the technology patented and successfully demonstrated on a pilot scale by Aclara at its pilot plant located in Chile, which is designed to minimise both cost and environmental footprint.
• The near-surface location of the deposit results in a low strip ratio (0.2) providing a positive backdrop for low-cost mining operations.
• Secured two additional mining rights adjacent to its existing mineral rights in the Carina Module through a public bidding process conducted by the Brazilian National Mining Agency. The two new mining rights will enable Aclara to explore new areas in the future and further optimise the design of the Carina Module.

Next steps

• Anticipated completion of an updated preliminary economic assessment of the Carina Module in September 2024.
• Continuation of the Carina Module pre-feasibility study.
• Completion of a 15 200 m Phase 2 reverse circulation (RC) drill campaign aimed at converting inferred mineral resources to a measured and indicated mineral resources category, which is expected to be completed by 4Q24.
• Execution of a metallurgical test campaign during 2H24 and 1H25. Sample collections will be obtained through sonic drilling and sent to SGS Lakefield for mineralogical and recovery characterisation, to serve as additional inputs for the Carina Module pre-feasibility study and to form the basis for a new piloting operation.
• Installation and operation of a new semi-industrial scale pilot plant in the State of Goias, Brazil during 2Q25. The piloting operation will be aimed at (i) confirming the processing parameters and final process flowsheet design for the feasibility study, (ii) generating a high purity HREE carbonate for separation trials in support of future off-take agreements, and (iii) demonstrating to relevant stakeholders the environmental sustainability of the process design.

Aclara COO, Barry Murphy, commented:

“The mineral resource update represents a crucial milestone towards the production of a heavy REE carbonate from the Carina deposit. With a comprehensive understanding of the entire deposit now in hand, we are well-positioned to advance confidently and accelerate progress on multiple fronts. These include converting inferred mineral resources to measured and indicated mineral resources, optimising metallurgical processes, advancing pre-feasibility and feasibility studies, and continuing with environmental and social licencing requirements. Our patented metallurgical recovery process, known as “Circular Mineral Harvesting”, is recognised for its cost competitiveness and enhanced environmental attributes, and further sets a promising stage for the forthcoming preliminary economic assessment update. We are very pleased to be significantly expanding our capacity as a key supplier of magnetic rare earths, particularly dysprosium, which is an essential component in addressing climate change.”

Read the article online at: https://www.globalminingreview.com/mining/12082024/aclara-resources-announces-updated-mre-for-brazil-project/