Equinox Resources Unveils High-Grade Rare Earths and Antimony Results with $2.2M Cash Cushion

Robust Financial Position Fuels Exploration Momentum

Equinox Resources Limited (ASX: EQN) closed the December 2024 quarter with a healthy cash balance of $2.2 million, providing a sturdy financial foundation to advance its diversified mineral portfolio. Despite exploration expenditure of $790,000 during the quarter, the company remains well-positioned to sustain its development programs and capitalise on emerging opportunities.

Mata da Corda: High-Grade Titanium and Rare Earths Drive Project Potential

The Mata da Corda Titanium Project in Minas Gerais, Brazil, continues to impress with over 1,900 drill samples confirming an average TiO2 grade of 10.23%, complemented by significant rare earth oxides (TREO) and niobium pentoxide (Nb2O5) intercepts near surface. Noteworthy drill results include 61.2 meters at 11.89% TiO2 and 37.3 meters at 2,400 ppm TREO, underscoring the project's multi-commodity value. Equinox is targeting a maiden Mineral Resource Estimate (MRE) in the first half of 2025, supported by ongoing metallurgical test work aimed at optimising extraction and processing flowsheets.

Alturas Antimony Project: Ultra-High Grades Amidst Favourable Market Dynamics

In British Columbia, Canada, the Alturas Antimony Project has delivered ultra-high-grade assay results, with antimony concentrations reaching nearly 70% Sb and multiple samples exceeding 45%. The polymetallic nature is further highlighted by copper mineralisation at 0.96% Cu. The project footprint expanded to 6.31 km2 during the quarter, securing additional mineralised extensions. Crucially, global antimony prices have surged to approximately US$46,000 per metric ton, driven by China's export restrictions and growing demand in defence and energy storage sectors, enhancing Alturas' strategic importance.

Campo Grande Rare Earths Project: Multi-Commodity Discovery with Strategic Minerals

Equinox's Campo Grande Rare Earths Project in Bahia, Brazil, has confirmed a high-grade monazite-hosted rare earth system at the Rio Negro Prospect, with peak TREO grades of 7,890 ppm. The discovery is complemented by significant gallium and bauxite mineralisation, including 17 meters at 90.2 g/t gallium oxide and 20 meters at 34.1% aluminum oxide. These findings position Rio Negro as a world-class exploration target with considerable expansion potential. Drilling across the Central and Northern Blocks is ongoing, with assay results expected in early 2025 to guide further exploration.

Hamersley Iron Ore Project: Strategic Advancement in Western Australia

Equinox continues to advance its 100%-owned Hamersley Iron Ore Project in the Pilbara region, home to a substantial Direct Shipping Ore resource of 108.5 million tonnes at 58% Fe. The company is actively engaging stakeholders and navigating regulatory pathways to unlock the project's value. While no new resource estimates were announced this quarter, the project remains a key strategic asset within Australia's iron ore supply chain.

Outlook and Strategic Focus

With a steady pipeline of assay results and project milestones anticipated in the coming months, Equinox Resources is poised to build on its recent successes. The company’s strategic expansions, particularly at Alturas and Campo Grande, alongside metallurgical advancements at Mata da Corda, underscore its commitment to developing critical mineral resources aligned with global demand trends. Maintaining disciplined cash management while progressing exploration and permitting activities will be critical as Equinox navigates the next phase of growth.