Core Energy Confirms High-Grade Rare Earths in Brazil and Australia
Core Energy Minerals (ASX:CR3) delivered promising rare earth exploration results across multiple projects in Brazil and Australia during the June quarter, confirming significant mineralisation continuity and high-grade recoveries.
- Strong TREO and MREO grades confirmed at Tunas and Campo Largo projects
- Itambe drilling reveals up to 1,429ppm TREO from surface
- Cummins assays show broad, laterally extensive REE mineralisation in South Australia
- Leach testwork validates high recoverability of rare earths at Tunas
- Company holds $469k cash with active plans for further drilling and funding
Brazil Projects Showcase Rare Earth Potential
Core Energy Minerals (ASX:CR3) continues to build momentum across its Brazilian portfolio, with the June quarter revealing robust rare earth element (REE) mineralisation at three key projects. At the Itambe Project in Bahia State, reconnaissance auger drilling returned encouraging intercepts including 5.6 metres at 1,429ppm total rare earth oxides (TREO) from surface, underscoring the project's exploration upside in a district hosting world-class deposits like Brazilian Rare Earths’ Sulista discovery.
Meanwhile, the Campo Largo Project, located 60 kilometres southwest of Tunas, confirmed widespread significant TREO with magnetic rare earth oxides (MREO) proportions reaching 46% in early rock chip assays. These magnetic rare earths are critical for electric vehicles and green technologies, marking Campo Largo as a noteworthy addition to CR3’s portfolio.
Tunas Project Confirms Thick, High-Grade Mineralisation with Elevated Yttrium
The Tunas Project in Paraná State remains the jewel in CR3’s Brazilian crown. The second phase of infill auger drilling reaffirmed thick, near-surface REE mineralisation with assays such as 14m at 2,146ppm TREO, including 9m grading 2,672ppm TREO and 396.6ppm yttrium oxide (Y₂O₃) from shallow depths. Notably, this is the first time significant yttrium enrichment has been identified at Tunas, a rare earth element increasingly prized for advanced ceramics and defence applications amid tightening Chinese export controls.
Complementing these results, leach testwork on Tunas samples demonstrated strong recoverability of TREO and MREO from ionic adsorption clay mineralisation under mild conditions, with average recoveries of 38% TREO and 63% MREO. This validates the project’s potential for cost-effective extraction, with diamond drilling planned to further delineate the mineralised system beyond auger limits. These findings build on previous results and confirm the lateral continuity of mineralisation across the project area, reinforcing Tunas’ status as a high-priority asset for CR3. Strong leach testwork results and consistent rare earth grades have underpinned this confidence.
Cummins Project Extends Rare Earth Footprint in South Australia
Back on home soil, the Cummins Project in South Australia delivered significant assay results from its 2025 maiden aircore drilling program. The data revealed a broad and laterally extensive REE-enriched system hosted across regolith and weathered basement rocks, with intercepts such as 27m at 505ppm TREO (27% MREO) and higher-grade zones up to 4m at 1,230ppm TREO. The magnetic rare earth oxide content consistently ranged between 22% and 35%, indicating a favourable rare earth mix for downstream applications.
Core Energy is now assessing the potential for in-situ recovery (ISR) mining methods at Cummins, which could offer environmental and cost advantages. Exploration efforts are also expanding to the Western Eyre Peninsula, with sampling of historical drill holes underway. These developments add a new dimension to CR3’s strategy of diversifying its rare earth assets across tier-one jurisdictions. Extensive mineralisation at Cummins highlights this growing Australian presence.
Financial Position and Corporate Movements
Despite exploration progress, Core Energy’s cash position tightened to AUD 469,000 at quarter-end, following $343,000 spent on exploration activities. The company issued 13.6 million retention rights and over 10 million performance rights to incentivise staff and contractors, reflecting a focus on talent retention amid ongoing project advancement. The board is actively evaluating funding options to support upcoming drilling campaigns and maintain momentum across its portfolio.
Core Energy’s Namibian uranium projects remained dormant this quarter, with no exploration activity reported. The company’s convertible notes facility stands at AUD 1.445 million, providing some financial flexibility as it navigates the next phases of exploration and resource definition.
Bottom Line?
Core Energy’s latest assays and testwork reinforce its rare earth projects’ promise, but limited cash reserves mean upcoming funding and drilling milestones will be critical to sustaining progress.
Questions in the middle?
- How will Core Energy secure funding to support planned diamond drilling at Tunas and further exploration in Australia?
- What impact could the identified yttrium enrichment at Tunas have on the project’s strategic value amid global supply constraints?
- Can the promising leach testwork results at Tunas translate into economically viable extraction methods at scale?
