Brazilian Critical Minerals (ASX:BCM) updated its mineral resource estimate for the Ema rare earth element project in Brazil, which defines a starter zone of 350 million tonnes at 778 parts per million (ppm) of total rare earth oxides using a cut-off of 500 ppm, according to a Tuesday filing with the Australian bourse.
The starter zone contains 126 million tonnes at 772 ppm total rare earth oxides in the indicated resources category, the filing said. Further conversion of the remaining starter zone inferred material to the indicated category is planned, pending the finalization of all drilling results during the first quarter.
The updated estimate will underpin an upcoming scoping study and Ema project economics.
The updated total interim mineral resource estimate is 977 million tonnes at 729 ppm total rare earth oxides, according to the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.