Magnum Mining has reported compelling assay and desorption results from its Piracanjuba North rare earth element project in Brazil, expanding the geophysical target footprint and advancing drilling towards an Exploration Target and JORC Resource.
- Geophysical anomaly footprint expands from 85 km² to 116 km²
- All 122 drill holes show anomalous total rare earth oxide values
- Elevated desorbable medium and heavy rare earth elements including terbium and dysprosium
- Six-rig drilling program now includes diamond drilling for deeper testing
- Exploration Target expected by early August, JORC Resource by November
Piracanjuba North Footprint Grows Amid Robust REE Assay Results
Magnum Mining and Exploration Limited (ASX:MGU) has delivered a substantial update from its Piracanjuba North rare earth element (REE) project in Goiás, Brazil, revealing an expanded geophysical anomaly footprint and a fresh batch of assay results that bolster the prospect’s potential as a large-scale ionic adsorption clay (IAC) REE system.
The interpreted geophysical target area at Piracanjuba North has increased markedly from 85 km² to 116 km² following a reinterpretation of existing radiometric data, broadening the scope of exploration across a region already showing consistent mineralisation. Notably, all 122 drill holes reported to date have returned anomalous total rare earth oxide (TREO) values, with many exhibiting elevated desorbable medium and heavy rare earth oxides (MREO) and critical elements terbium (Tb) and dysprosium (Dy), which are prized additives in high-performance permanent magnets.
Drilling Program Accelerates with Six Rigs and Diamond Core Introduction
The company’s drilling campaign has intensified, now employing six rigs including mechanised augers, a winch-assisted deeper auger, and importantly, a diamond drill rig to test mineralisation at depth and fresh rock. To date, 314 holes totaling over 3,250 metres have been drilled, with most holes ending in mineralisation and many of the best assay intervals occurring at the bottom of holes, prompting plans for deeper follow-up drilling to better understand vertical continuity and saprolite architecture.
Selected highlights from the second batch of assays include intervals such as 12 metres at 690 ppm TREO with 37% desorption from surface, and narrower zones grading over 1,400 ppm TREO with up to 59% desorption of Tb and Dy, underscoring both the grade and leachability of the mineralisation under mild ammonium sulphate conditions. These results build on the company’s earlier findings that demonstrated strong desorption rates, a key indicator for the economic viability of IAC-style deposits.
Multi-Centre Target Framework and New Drilling Grids
Within the expanded footprint, Magnum has delineated multiple target centres including PN-4, PN-1, and the newly identified PN-6, each showing encouraging assay and desorption signatures. PN-4 remains the most advanced target with the strongest desorbable TREO response, while PN-1 and PN-6 provide valuable follow-up vectors with material MREO, heavy REE, and TbDy content.
To refine the exploration model and support the upcoming Exploration Target, the company is implementing a tiered drilling grid approach: a regional 1,000m x 1,000m grid for reconnaissance, a 400m x 400m grid to bridge regional and detailed scales, and a 200m x 200m grid focused on priority zones. This multi-scale strategy aims to enhance target ranking, step-out drilling selection, and ultimately underpin a JORC-compliant Mineral Resource Estimate.
Infrastructure and District Context Support Development Potential
Strategically located within Magnum’s Azimuth 125 Rare Earth District, Piracanjuba North benefits from proximity to established mining infrastructure and regional services. The target lies only 7 km from Piracanjuba city and under 100 km from Goiânia, with accessible road networks and grid power availability. These factors add practical value to the project’s development prospects, though significant exploration, metallurgical, and technical work remains before any economic conclusions can be drawn.
Managing Director Antonio Vitor Junior emphasised the growing confidence in Piracanjuba North, highlighting the combination of scale, favourable REE mix, desorption characteristics, and community support. He noted the company’s progress is ahead of schedule, targeting an Exploration Target by early August and a maiden JORC Mineral Resource by November, subject to ongoing results.
Bottom Line?
Magnum’s expanded footprint and robust assay results at Piracanjuba North set the stage for critical upcoming milestones, but the path to a defined resource will hinge on deeper drilling and metallurgical validation.
Questions in the middle?
- Will deeper diamond drilling confirm the vertical continuity of mineralisation at Piracanjuba North?
- How will metallurgical optimisation improve desorption recoveries beyond current screening tests?
- Can the expanded geophysical anomaly translate into a coherent, economically viable mineral resource?