- Brazilian Critical Minerals (ASX:BCM) claims it has uncovered extensive REE mineralisation at its Ema play in Brazil
- The mineralisation is ionic in nature
- Shares last traded at 2.6 cents
Brazilian Critical Minerals (ASX:BCM), formerly BBX Minerals, has flagged the discovery of evidence underpinning extensive ionic REE mineralisation at its Ema play in Brazil.
It marks a second busy month for the company that kicked off the year with only $2 million in cash.
In January, an ESG-focused bioleaching metallurgy report was issued which further advances the company’s knowledge in its quest to make rare earths in the least environmentally harmful way possible.
A focus on ESGin the REE sector makes sense.
How ESG could be BCM’s bigger find
No small part of the reason why Chinese manufacturing dominates the sector outside of currency exchange and economics is to do with environmental laws.
In short, REEs are dirty to make, and in China, you’re allowed to dispose of waste in dirty ways. In tier-1 jurisdictions, and rightly so, this isn’t doable. Costs go up, both in logistics and compliance.
BCM, while it explores on-site, is also hoping to make a research breakthrough that could end up being worth more than the play itself. For now, though, that isn’t guaranteed.
JORC estimate inbound
The company called the discovery of “extensive [REE] mineralisation” this morning based on drilling data.
BCM outlined many strengths underpinning confidence in its claim.
Mineralisation is now stated to be defined over 7.8 square kilometres; multiple drill holes posted grades above 1000ppm, and that high-value magnet REEs make up over 30 per cent of total oxides “in many places.”
“Mineralisation is now confirmed over the entire 46 square kilometres tested to date,” the company announced.
All of this goes towards a pending JORC resource estimate scheduled for late March – assays are still pending.
“These highly encouraging results further confirm the presence of consistent high-grade iREE values over a large area in a region with good infrastructure, close to a regional urban centre and with very strong community support,” BCM Chair Ken Kluksdahl said.
BCM shares last traded at 2.6 cents.