Magnum Mining has resumed drilling at its Palmares and Azimuth rare earth projects in Brazil, advancing high-grade targets with assay results expected by the end of January.
- Resumption of drilling at Palmares and Azimuth projects after seasonal shutdown
- 15 RC holes completed at Palmares’ Feirinha Prospect targeting near-surface mineralisation
- Two rigs operating 24/7 at Palmares to accelerate drilling progress
- 13 auger holes completed at Azimuth’s Piracanjuba prospect with assays underway
- Both drilling programs remain under budget and managed by experienced local leadership
Resuming Momentum in Brazil’s Rare Earth Frontier
Magnum Mining and Exploration Limited has kicked off 2026 by restarting drilling operations at its promising Palmares and Azimuth rare earth element (REE) projects in Brazil. Following a planned operational pause during Brazil’s Recesso Period, the company is intensifying efforts to delineate high-grade REE mineralisation, a critical step in advancing these projects towards potential development.
At the Palmares Project, drilling has focused on the Feirinha Prospect, a site that has previously delivered encouraging surface samples with total rare earth oxide (TREO) grades reaching up to 1.69%. To date, Magnum has completed 15 reverse circulation (RC) drill holes totalling 225 metres, despite some initial delays caused by seasonal rainfall impacting site access. The company is now deploying two RC rigs operating in alternating 12-hour shifts to maintain continuous 24-hour drilling, aiming to accelerate progress through the first quarter of 2026.
Targeting Strategic Rare Earths
The Feirinha Prospect is notable not only for its high TREO grades but also for its elevated concentrations of critical elements such as Terbium and Dysprosium. These rare earths are essential for advanced technologies, including electric vehicles and renewable energy systems, and their supply is currently dominated by China. The ongoing drilling program is designed to test the lateral and depth extent of this mineralisation, potentially unlocking a low-cost source of these strategic metals.
Meanwhile, at the Azimuth Project, reconnaissance auger drilling has targeted the Piracanjuba prospect along the Azimuth 125 structural corridor, a region known for its REE potential. The program has completed 13 holes totalling 155 metres, with average drill depths increasing to 12 metres to better sample the ionic clay horizons associated with rare earth mineralisation. The arrival of a second auger rig is expected to boost drilling rates, aligning with the company’s plans to complete a 1,665-metre program.
Assays and Outlook
Samples from both projects have been prepared and dispatched to ALS Laboratory in Brazil, with assay results anticipated by the end of January. These results will be pivotal in confirming the extent and grade of mineralisation and informing next steps in exploration and potential resource definition. Importantly, both drilling campaigns remain under budget, reflecting effective operational management led by Magnum’s experienced in-country manager and major shareholder, Antonio Vitor.
As drilling continues into the first quarter of 2026, weather permitting, Magnum’s progress at Palmares and Azimuth will be closely watched by investors and industry observers eager for new sources of critical rare earth elements outside of China’s dominance.
Bottom Line?
January’s assay results will be a crucial milestone, potentially reshaping Magnum’s rare earth prospects and market positioning.
Questions in the middle?
- Will the upcoming assay results confirm the high-grade mineralisation indicated by surface samples?
- How will Magnum’s drilling progress and budget management influence its timeline for resource definition?
- What implications could these Brazilian REE discoveries have for global supply chains dominated by China?