Magnum Mining Enlists Rare Earths Veteran Jack Lifton to Boost Piracanjuba North Push

Rare Earths Heavyweight Joins Magnum at a Critical Growth Phase

Magnum Mining (ASX:MGU) has brought Jack Lifton on board as its Rare Earth Elements (REE) Business Development Manager, a move that signals a strategic push to commercialise its promising Piracanjuba North project in Brazil. Lifton’s appointment comes as Magnum ramps up a 10,000-metre auger drilling campaign targeting a large-scale ionic adsorption clay (IAC) REE deposit.

Lifton is no newcomer to the rare earths sector. With a career spanning six decades, including pioneering work in ultra-purification of rare metals and advising US government departments on rare earth sourcing and processing, he is widely regarded as a titan in the technology metals space. His expertise is expected to be pivotal as Magnum seeks to navigate the complex global REE supply chains and position Piracanjuba North within future US industrial ecosystems.

Strategic Role Focused on Market and Commercialisation Pathways

Under a part-time consultancy agreement, Lifton will provide strategic, tactical, and operational support encompassing rare earth market analysis, downstream processing pathways, and commercialisation opportunities. His remit also includes identifying strategic partnerships, offtake agreements, and funding avenues, all critical to advancing Magnum’s rare earth ambitions.

The consultancy is structured with a monthly fee of USD 4,000 and performance rights that reward key milestones such as delivering a board-approved supply chain roadmap, securing binding commercial agreements or funding commitments, demonstrating metallurgical validation with a minimum 45% REE desorption rate, completing a Preliminary Economic Assessment (PEA) with at least AUD 1 billion in modelled cash flow, and achieving a market capitalisation threshold. These milestones align closely with Magnum’s broader strategy to de-risk and add value to the Piracanjuba North project.

Piracanjuba North Project Advancing Toward Resource Definition

The Piracanjuba North prospect is part of Magnum’s expansive Azimuth REE Project, which covers over 900km of prospective ground across Goias and Minas Gerais states in Brazil. The project has gained momentum since February 2026, when Magnum announced a major potential IAC-hosted REE discovery, with all 122 drill holes to date returning anomalous total rare earth oxide (TREO) values.

Recent drilling has expanded the interpreted geophysical anomaly to 116 square kilometres, underpinning expectations for an Exploration Target by early August and a JORC Resource by November, subject to ongoing assay results and operational factors. This drilling campaign and resource delineation are critical to validating the economic potential of the deposit and informing Lifton’s commercialisation strategies. The campaign includes a six-rig operation with diamond drilling underway to test deeper mineralisation zones.

No New Exploration Data but Strategic Expertise Added

While this announcement does not introduce new exploration results, it reinforces Magnum’s commitment to advancing Piracanjuba North through expert guidance at a pivotal stage. Managing Director Antonio Vitor emphasised the value of Lifton’s deep industry knowledge and technical expertise in shaping the project’s development and positioning within the US supply chain context.

The company continues to navigate typical mining sector risks, including operational, economic, and regulatory uncertainties, as it pursues its rare earth ambitions. Lifton’s involvement may enhance Magnum’s ability to secure strategic partnerships and funding, which are essential for progressing toward commercial production.