Meteoric Resources NL (ASX:MEI) High Grade Discoveries With Enriched MREOs At Agostinho Highlight Caldeira’s Scale

Meteoric Resources NL (ASX:MEI) recently provided an update on drilling activities at the Agostinho Prospect, part of its fully-owned Caldeira Rare Earth Ionic Clay Project located in Minas Gerais, Brazil. This update marks significant high-grade discoveries, showcasing the vast potential of the site.

Key Highlights

• Exceptional intercepts of ionic clay of up to 19,183 ppm Total Rare Earth Oxides (TREO).
• Magnetic Rare Earth Oxides (MREO) enriched up to 6,691 ppm.
• MREO peak zones with a concentration of up to 38%, with an average of 30.4% – a 7.4% increase compared to the global resource average.
• Heavy Magnetic Rare Earths (HREO) concentrations reaching up to 2% of TREO.
• A total of 3,301 meters drilled, accounting for 116 holes with outstanding intercepts.

The project’s mineralization averages a thickness of 28.4 meters from the surface over the entire license area.

Summary of Drill Results

Notable results from the recent drilling campaign include:

• AGOAC0107: 24m @ 6,918ppm TREO with 27% MREO, including 6m @ 19,183ppm TREO with 34.9% MREO.
• AGOAC0110: 22m @ 4,422ppm TREO with 27.7% MREO, including 10m @ 7,831ppm TREO with 35.6% MREO.
• AGOAC0079: 28m @ 3,183ppm TREO with 26.9% MREO, including 8m @ 7,462ppm TREO with 37.6% MREO.
• AGOAC0098: 28m @ 5,315ppm TREO with 27.4% MREO.
• AGOAC0070: 22m @ 4,890ppm TREO with 27% MREO.
• AGOAC0092: 22m @ 4,323ppm TREO with 27.2% MREO.

These outcomes showcase the prospect’s potential to significantly enhance the Caldeira Project, potentially expanding its scale to support sustainable rare earth material supply.

Agostinho Aircore Drilling Progress

An Aircore drilling campaign, which spanned 3,301 meters and encompassed 116 holes, was conducted over the Agostinho Prospect in September 2024. This initiative followed promising results from initial discovery holes that revealed substantial mineralization.

The drilling grid of 100m x 100m in the Agostinho area corroborated high-grade mineralization observed previously. The Clay Zone, which is rich in minerals, averages 27 meters in depth and mineralization begins from the surface. Every hole in this grid intersected mineralization with concentrations exceeding 1,000ppm TREO, averaging a grade and thickness across the deposit of 28.4m @ 2,771ppm TREO.

Future Prospects

Plans to validate data and undertake geological modeling for the Agostinho and Barra do Pacu deposits have commenced, aiming for resource estimations in mid-2025. This ongoing effort underscores the promise of expanding and enriching Meteoric’s rare earth assets at Caldeira.

These high-grade discoveries not only emphasize the Caldeira Project’s vast potential but also highlight Meteoric Resources NL’s strategic role in supplying rare earth materials globally. Continuing exploration may unearth additional rich zones, enhancing the project’s footprint significantly.