CODA North’s Titanium Discovery Boosts Enova’s Multi-Commodity Risks and Rewards
Enova Mining reports multiple high-grade titanium dioxide intercepts exceeding 15% TiO2 at its CODA North project, reinforcing the site's multi-commodity potential and rare earth mineralisation prospects.
- Multiple drill intercepts exceed 15% TiO2 at CODA North
- Strong continuity of titanium mineralisation across large tenement area
- Positive correlation between TiO2, rare earth elements, and niobium
- Ongoing metallurgical and geological studies to assess co-extraction feasibility
- CODA project positioned as a strategic multi-commodity critical mineral asset
Exceptional Titanium Mineralisation at CODA North
Enova Mining Limited (ASX: ENV) has announced a significant advancement in its exploration program at the CODA North project in Minas Gerais, Brazil. Recent drilling results have revealed multiple high-grade titanium dioxide (TiO2) intercepts exceeding 15%, with some intervals reaching up to 17% TiO2. These findings not only underscore the scale and quality of titanium mineralisation but also enhance the project's rare earth element (REE) potential.
The drilling campaign, comprising both reverse circulation (RC) and diamond core holes, has demonstrated strong homogeneous continuity of TiO2 mineralisation across the extensive tenement area. Notable intercepts include 54 meters at 10.5% TiO2 from surface, including 9 meters at 15.3% TiO2, and 67 meters at 10.1% TiO2 from surface with 5 meters at 14.2% TiO2. These results confirm the presence of substantial titanium enrichment within the Patos Formation, a key geological unit hosting the mineralisation.
Strategic Multi-Commodity Potential
Beyond titanium, the CODA North project exhibits a compelling geochemical association between TiO2, rare earth oxides (TREO), and niobium pentoxide (Nb2O5). Enova's data reveals a moderate to strong positive correlation, suggesting the possibility of co-extracting titanium alongside critical rare earth elements and niobium. This multi-commodity potential positions CODA North as a strategically valuable asset in the critical minerals sector, particularly given the growing global demand for REEs and titanium in high-tech and industrial applications.
Enova's CEO, Eric Vesel, highlighted the significance of these findings, stating that the multiple high-grade TiO2 intercepts mark a key milestone for the project. He emphasized the company's commitment to unlocking the full value of CODA North, including ongoing investigations into scandium and niobium as potential by-products, which could further enhance project economics.
Robust Exploration and Quality Assurance
The exploration success at CODA North is underpinned by Enova's skilled Brazilian technical team and rigorous sampling protocols. The company employs industry-standard drilling and assaying techniques, with comprehensive quality control measures including duplicate samples, standards, and blanks to ensure data integrity. The vertical orientation of drill holes aligns well with the flat-lying mineralised horizons, minimizing sampling bias and supporting accurate resource modelling.
Metallurgical test work is underway to evaluate the feasibility of extracting titanium dioxide as a valuable by-product, alongside rare earth elements. These studies will inform future resource optimisation and development strategies, potentially enabling a cost-efficient multi-commodity operation.
Broader Project and Regional Outlook
CODA North is part of a larger portfolio of tenements within the CODA project area, all located in a geologically prospective region characterized by the Patos Formation's alkaline-ultramafic kamafugite rocks. Enova is advancing resource delineation drilling to upgrade confidence levels and expand the footprint of mineralised zones. Additional exploration targets at CODA Central, East, XN, XS, and South remain to be drilled, offering significant upside potential.
Enova's broader strategy includes exploration in Brazil's Lithium Valley, complementing its rare earth and titanium assets and reflecting a diversified approach to critical mineral development. The company's local expertise and strong international rare earth business networks provide a solid foundation for advancing these projects amid a supportive Brazilian mining environment.
Industrial Demand and Market Context
Titanium's industrial applications span aerospace, automotive, medical implants, and pigments, with titanium dioxide being a critical component in paints and coatings. The global TiO2 market is projected to grow from USD 20.24 billion in 2023 to USD 34.78 billion by 2032, driven by increasing demand across sectors. Enova's discovery at CODA North aligns well with this market trajectory, potentially positioning the company to capitalize on rising titanium and rare earth demand.
Bottom Line?
Enova Mining’s CODA North titanium discovery sets the stage for a multi-commodity critical minerals play with promising growth ahead.
Questions in the middle?
- How will ongoing metallurgical test work impact the economic viability of co-extracting TiO2 and REEs?
- What are the timelines and targets for resource upgrades and further drilling across the broader CODA project?
- How might Enova leverage its rare earth refining and supply chain networks to accelerate project development?
