Core Energy Reports 6.5m at 1,563ppm TREO and 4m at 114ppm U3O8 in Latest Drilling
Core Energy Minerals reports promising exploration results with significant rare earth element grades in Brazil and uranium intercepts in South Australia, alongside strategic management appointments and asset divestment.
- High-grade rare earth oxide soil and drilling results at Tunas Project, Brazil
- Maiden drilling at Cummins Uranium Project confirms uranium mineralisation over 100ppm U3O8
- New tenement applications extend Brazilian REE project tenure by 8km
- Appointment of Anthony Greenaway as Managing Director and Rachel Kogiopoulos as CFO
- Divestment of non-core Nevada asset to focus on core uranium and critical minerals projects
Exploration Breakthroughs in Brazil
Core Energy Minerals Limited (ASX – CR3) has delivered a compelling update for the quarter ending 30 September 2025, highlighting significant progress in its critical minerals exploration strategy across Brazil and Australia. At the forefront is the Tunas Project in Paraná, Brazil, where first-pass reconnaissance soil sampling revealed Total Rare Earth Oxide (TREO) values exceeding 2,000ppm, peaking at 2,921ppm in residual soils. This initial success was followed by wide-spaced hand-auger drilling that intersected multiple thick zones of rare earth element mineralisation within saprolite clay horizons, including a standout 6.5 metres at 1,563ppm TREO.
The Tunas Project tenure now covers 18.32 square kilometres surrounding the largest alkaline intrusive complex in Southern Brazil, a geological setting known for hosting ionic clay REE deposits. Encouraged by these results, Core Energy has lodged new tenement applications extending the project area by 8 kilometres to the southeast, targeting additional radiometric anomalies that may represent similar mineralised intrusions.
Uranium Potential Confirmed in South Australia
Meanwhile, in South Australia’s Tier 1 mining jurisdiction, Core Energy completed its maiden drilling campaign at the Cummins Uranium Project. The program comprised 27 Aircore drill holes totaling 2,775 metres across six prospect areas. Assay results confirmed uranium mineralisation with multiple intercepts exceeding 100ppm U3O8, including 4 metres at 114.3ppm and 1 metre at 117.9ppm. These findings validate the company’s geological model and provide valuable vectors for follow-up geophysical surveys aimed at delineating palaeochannel morphologies and refining drill targets.
The Cummins Project benefits from proximity to established uranium operations such as BHP’s Olympic Dam and Boss Energy’s Honeymoon Mine, underscoring the strategic value of Core Energy’s tenure in a well-supported uranium province.
Strategic Leadership and Portfolio Refinement
Core Energy also announced key management appointments, with Anthony Greenaway stepping into the role of Managing Director effective 1 October 2025. Mr Greenaway brings extensive technical and operational experience, having overseen recent acquisitions and exploration activities. Additionally, Rachel Kogiopoulos was appointed Chief Financial Officer, strengthening the company’s executive team as it advances its exploration agenda.
In a move to sharpen its focus on core assets, Core Energy divested its non-core Douglas Canyon Project in Nevada for $150,000 cash. This divestment aligns with the company’s strategy to rationalise its portfolio and allocate resources towards high-impact uranium and rare earth projects in Brazil and Australia.
Financial Position and Outlook
Financially, Core Energy raised $1.8 million through unsecured convertible notes with a 24-month term and 10% annual interest, of which $1.6 million remained outstanding at quarter-end following partial conversions. The company reported a net cash outflow from operations of $885,000 and held cash reserves of $430,000. Management is actively reviewing funding options to support ongoing exploration activities.
With promising exploration results, a strengthened leadership team, and a clear strategic focus, Core Energy is poised to accelerate its critical minerals and uranium exploration programs in the coming months.
Bottom Line?
Core Energy’s latest results set the stage for an intensified exploration phase, but funding and further drilling will be key to unlocking full project potential.
Questions in the middle?
- How will Core Energy prioritise its expanded tenement holdings in Brazil for follow-up drilling?
- What geophysical methods will be deployed next at Cummins to refine uranium targets?
- How might recent management changes influence the pace and scale of exploration activities?
