Ema Project’s Updated Resource Hits 977Mt at 729ppm TREO, Scoping Study Imminent

Resource Update Strengthens Project Foundations

Brazilian Critical Minerals Limited (ASX: BCM) has announced a significant update to the Mineral Resource Estimate (MRE) for its Ema rare earth element (REE) project located in the Amazonas state of Brazil. The updated MRE defines a starter zone containing 350 million tonnes (Mt) at 778 parts per million (ppm) total rare earth oxides (TREO), with 36% of this volume classified in the higher confidence Indicated category. This resource update forms a critical foundation for the upcoming Scoping Study, expected to be released in the first quarter of 2025.

The total Interim Mineral Resource Estimate now stands at 977Mt at 729ppm TREO, reflecting the extensive drilling and assay work completed over the past 18 months. The starter zone, which represents only 14% of the available tenement area, is strategically important as it underpins the project's initial development phase and economic evaluation.

Geological and Mining Context

The Ema project hosts ionic clay-hosted REE mineralisation, analogous to the world-class deposits found in southwest China. This style of mineralisation is characterised by REEs adsorbed onto fine aluminosilicate clays within a tropical lateritic weathering profile developed over felsic volcanic rocks. The mineralisation is near surface and amenable to in-situ recovery mining methods, which are widely used in China and known for their low environmental footprint and cost efficiency.

Drilling to date has been conducted primarily using hand-held augers, focusing on the central starter zone with a nominal 300m grid spacing. The updated MRE incorporates results from a 270-hole 2024 infill drilling program, which has significantly increased confidence in the resource, particularly by converting a substantial portion of Inferred material to Indicated status. Final assay results from priority drilling areas are pending, with expectations of further upgrades to the resource classification.

Economic and Strategic Implications

Managing Director Andrew Reid highlighted the importance of this update, stating that the defined 350Mt starter zone with a strong Indicated component reaffirms the technical robustness and market appeal of the Ema project. The forthcoming Scoping Study is designed to leverage the project's competitive advantages, focusing on a low-capital, low-risk start-up approach that aims to deliver long-life, low-cost production with solid cash flow margins throughout the rare earth price cycle.

Metallurgical test work indicates high recoveries of critical rare earth elements such as neodymium, praseodymium, dysprosium, and terbium, with some recoveries reaching up to 85% in the lower regolith zones. These results support the project's potential to become one of the largest ionic clay-hosted REE deposits outside China, positioning Brazilian Critical Minerals as a strategic player in the global rare earth supply chain.

Next Steps and Market Outlook

With the Scoping Study nearing completion and permeability field trials planned ahead of a feasibility study, the company is advancing steadily towards project development. The extensive landholding of 189 km2, with 55% yet to be explored, offers significant upside potential for resource expansion. Investors and analysts will be watching closely for the final assay results and the Scoping Study release, which will provide further clarity on the project's economic viability and development timeline.