Brazilian Critical Minerals Confirms Strong Leach Recoveries Supporting 20-Year Mine Life at Ema

Leach Results Reinforce Ema's Economic Potential

Brazilian Critical Minerals Ltd (ASX:BCM) has delivered a significant vote of confidence in its Ema Ionic Clay Rare Earth Project with the release of magnesium sulphate leach results from its 2025 infill auger drilling campaign. The assay program, covering 56 holes and 262 samples, returned average recoveries of 48% total rare earth oxides (TREO) and 62% magnetic rare earth oxides (MREO), mirroring the recoveries assumed in the company’s February 2025 Scoping Study.

This confirmation is crucial for BCM as it underpins the economic viability of a low-cost in-situ recovery (ISR) mining method, targeting rare earth extraction from the lower saprolite horizon immediately above fresh volcanic bedrock. The project’s MREO to TREO ratio averaged 39%, positioning Ema among the higher-grade magnetic rare earth peers globally, a key factor for attracting strategic interest given the premium value of magnetic rare earths like neodymium and praseodymium.

High-Grade Intercepts Highlight Mineralisation Continuity

Key intercepts from the drilling campaign include 9-metre intervals with soluble TREO grades exceeding 600 ppm and MREO grades around 260-270 ppm. Notably, hole EMA-TR-492 recorded a peak 1-metre interval of 1,693 ppm soluble TREO with 502 ppm NdPr and 66 ppm DyTb, highlighting zones of concentrated heavy rare earth enrichment near the fresh rock interface. These thick, consistent mineralised intercepts support the continuity of the deposit and the scalability of the ISR approach.

The enrichment profile, with increasing soluble rare earth grades toward the base of the weathered profile, aligns closely with the characteristics of Chinese ionic clay deposits, which dominate the global supply of low-cost heavy and magnetic rare earths. This geological similarity bolsters BCM’s strategic positioning of Ema as a compelling rare earth development outside China.

Advancing Feasibility and Commercial Discussions

The strong leachability results provide a solid foundation for the upcoming bankable feasibility study (BFS), which is progressing rapidly and scheduled for release in June 2026. The BFS integrates the updated Mineral Resource Estimate from April 2026, metallurgical test results from ANSTO, and groundwater modelling by WSP, aiming to deliver a detailed economic and technical assessment of the project.

Alongside technical progress, BCM is actively engaging with potential offtake partners focusing on the magnetic rare earth concentrate (MREC) product and advancing regulatory permitting processes in Brazil. Initial discussions on project financing have also commenced, with plans to accelerate these talks from the third quarter of 2026.

Exploration Methodology and Resource Confidence

The infill auger drilling, conducted at 300-metre centres in the central resource area, provides higher confidence in the grade and thickness of mineralisation, supporting the resource upgrade and BFS inputs. While the auger method limits hole depth to about 20 metres, the deepest intervals consistently show the highest grades, reinforcing the target zone for ISR extraction.

BCM’s Senior Consulting Geologist, Antonio de Castro, confirms that the sampling and assay methods meet industry standards, with rigorous QA/QC protocols in place. The soluble TREO data, reflecting the recoverable rare earth component under low-acid magnesium sulphate leaching, is particularly valuable for assessing the deposit’s amenability to ISR.

Strategic Positioning Amid Global Rare Earth Supply Challenges

As global demand for rare earths intensifies, especially for magnet rare earths critical to electric vehicles and renewable energy technologies, Ema’s scale, grade, and ISR-friendly characteristics place it as a potential strategic supplier to western markets. The project’s 20-year mine life, supported by these leach results, adds to its attractiveness in a market seeking secure, diversified rare earth sources outside China.