Drilling at Campo Grande Hinges on Rig Availability and Assay Outcomes

Focused Drilling Campaign Targets Rare Earth Continuity

Eminence Minerals (ASX:EMA) has completed detailed planning for a focused auger drilling campaign at its 100% owned Campo Grande Rare Earth Project in Bahia, Brazil. The program, pending drill rig availability, aims to deliver up to 2,000 metres of drilling across 72 holes on a 200m x 200m grid, designed to test high-priority rare earth element (REE) targets adjoining the Sulista district held by Brazilian Rare Earths (ASX:BRE). This marks a critical shift from target generation to active field execution, with the objective of establishing geological continuity and underpinning a maiden JORC-compliant Mineral Resource Estimate (MRE).

The project area, spanning approximately 1,755 km² within the Rocha da Rocha Rare Earth Province, benefits from strategic proximity to BRE’s tenure, where recent drilling has yielded high-grade results up to 45.7% Total Rare Earth Oxides (TREO). Eminence’s own reconnaissance surface sampling has returned peak values of 17,346 ppm TREO, indicating promising mineralisation potential. However, the company explicitly cautions that adjacency to BRE’s corridors does not guarantee analogous mineralisation within its own ground.

Integration of Multispectral Targets and Independent Validation

The drilling campaign is the culmination of an integrated exploration strategy that combines historical data, regional geology, multispectral satellite targeting, and independent technical validation by Brazilian consultancy GE21 Consultoria Mineral. GE21’s involvement includes verifying legacy datasets and confirming the appropriateness of the 200m grid spacing and QA/QC protocols, lending credibility to the planned resource estimation framework. This approach builds on previous work including advanced Sentinel-2 satellite imagery analysis, which helped prioritise lateritic and clay-hosted REE targets across the project’s interpreted mineralised corridors.

CEO Anthony Hills emphasised the disciplined, data-driven nature of the campaign, highlighting the use of multispectral targets and GE21’s validation to focus efforts on areas with the highest potential for scale. This technical rigour aims to produce a robust geological model and resource estimate foundation, a step up from the preliminary reconnaissance phase reported earlier this year. Eminence’s exploration pipeline is thus advancing in lockstep with its strategic intent to unlock value from the Campo Grande asset.

Systematic Auger Drilling and Regional Scout Targets

The program comprises two complementary components: a systematic grid-based auger drilling campaign and a regional scout drilling initiative. The systematic drilling will cover three priority target zones; extensions of the Sulista, Monte Alto, and Amargosa corridors; using vertical holes up to 18 metres deep to sample the full saprolitic profile that hosts Ionic Adsorption Clay (IAC) mineralisation. This depth aligns with industry standards for evaluating lateritic REE deposits and is expected to capture the critical mineralised horizons.

Parallel to this, regional scout holes will test newly identified anomalies derived from multispectral and Crósta alteration mapping techniques, aiming to uncover “blind” REE-rich clusters beyond the main corridors. This broader approach expands the project’s exploration footprint and potential upside, reflecting a balanced strategy between focused resource definition and early-stage discovery.

Metallurgical Insights and Multi-Commodity Potential

Preliminary metallurgical test work supports the ionic nature of the mineralisation, with ammonium sulphate leach recoveries reaching up to 80% TREO at pH 4. This is a positive indicator for potential extractive metallurgy and economic viability. Furthermore, the presence of strong cerium-negative anomalies in saprolite samples suggests secondary enrichment of critical magnet rare earths such as neodymium, praseodymium, dysprosium, and terbium, which are highly sought after for permanent magnet applications.

Adding to the project’s appeal is confirmed high-value gallium mineralisation, with assays up to 106.5 g/t Ga2O3. Gallium’s status as a strategic by-product could enhance the overall economics of the Campo Grande Project, diversifying its commodity exposure and potentially improving project resilience against price volatility in the REE basket.

Positioning Amidst Corporate and Market Developments

This drilling campaign follows Eminence’s recent executive and portfolio moves, including the appointment of CEO Anthony Hills earlier this year, who brings global operational expertise to accelerate project execution. The company’s divestment of its Alturas Antimony Project earlier in 2026 has streamlined its focus on core assets like Campo Grande, aligning capital and management resources towards advancing the rare earths strategy. The current campaign’s design and validation reflect this sharpened focus and technical discipline, setting the stage for meaningful resource definition work.

Given the rising global demand for rare earths and the strategic importance of ionic clay deposits, Eminence’s field activities at Campo Grande will be closely watched. The integration of multispectral targeting, independent validation, and metallurgical insights positions the company to potentially unlock significant value in a highly prospective Brazilian district. However, the ultimate success of the program hinges on drill rig availability and the forthcoming assay results that will confirm the extent and grade continuity of mineralisation.