Oceana Metals Validates High-Grade Rare Earths at Serra Negra
Oceana Metals has confirmed extensive high-grade rare earth mineralisation at its Serra Negra project in Brazil, with assays revealing grades over 4% TREO across thick intervals. A 20,000m diamond drill program is set to start soon, targeting a maiden resource estimate.
- High-grade REE mineralisation confirmed over 1km by 1.5km target area
- Peak assays exceed 10% TREO with mineralisation open in multiple directions
- Initial 20,000m drill program to validate and expand known zones
- Ongoing re-assaying of ~8,000m historical core with further results pending
- Drone geophysical surveys underway to refine district-scale targets
High-Grade Rare Earths Confirmed in Historical Core
Oceana Metals (ASX:OCN) has unveiled compelling assay results from its re-sampling of historical drill core at the Serra Negra Rare Earth Project in Minas Gerais, Brazil. The assays validate a broad, continuous corridor of rare earth element (REE) mineralisation within a priority target zone measuring approximately 1km by 1.5km.
Notably, the results include thick intervals grading over 4% total rare earth oxides (TREO), with standout intercepts such as 50m at 4.0% TREO and 22m at 4.7% TREO from separate drill holes. Individual 1m samples have peaked above 10% TREO, positioning Serra Negra among the top-tier carbonatite-hosted REE deposits globally. The mineralisation remains open along strike and at depth, underscoring the project's scale potential.
Strategic 20,000m Drill Program to Begin
Building on these encouraging results, Oceana is poised to commence a 20,000-metre diamond drilling campaign focused on the central target block. The program aims to confirm historical results, extend known mineralisation, and generate a modern dataset to underpin a maiden mineral resource estimate (MRE) in the coming months.
The drilling will initially target step-out holes around the highest-grade intersections and test geological extensions beyond the current footprint. Oceana is deploying a phased approach, starting with portable rigs to minimise environmental impact, before scaling up with track-mounted rigs to enhance productivity and access.
Ongoing Core Re-assaying and Geophysical Surveys
The current assays represent only a fraction of the approximately 8,000 metres of historical core undergoing re-sampling. Additional assay results are awaited, which could reveal further mineralised zones and new targets across the Serra Negra complex.
Complementing the drilling, Oceana has initiated high-resolution drone geophysical surveys, including LiDAR and magnetic data acquisition. These surveys, covering the entire 5,810-hectare tenement package, will feed into the evolving 3D geological model to refine drill targeting at a district scale.
Project Tenure and Permitting Progress
Serra Negra is 100% owned by Songeo Mineração S.A., with Oceana Metals in the process of acquiring the project subject to conditions precedent. Environmental approvals for the initial drilling phase have been secured, and engagement with local landowners has been positive, securing access to priority drilling areas.
Oceana is also bolstering its Brazilian operations team ahead of drilling, with a new Exploration Manager expected to start in late July 2026. The company anticipates sustained news flow as exploration advances through the second half of the year.
Bottom Line?
Oceana Metals is entering a critical exploration phase at Serra Negra, with high-grade assays and a large drill program setting the stage for a maiden resource estimate and potential project re-rating.
Questions in the middle?
- Will ongoing re-assaying uncover additional high-grade zones beyond the central target?
- How will the drone geophysical data influence drill targeting and resource delineation?
- What timeline can investors expect for the maiden mineral resource estimate and subsequent development milestones?
