Magnum Mining has confirmed broad shallow TREO enrichment across the 8.3 km² Feirinha target in Brazil, led by a 15-metre interval grading 2,190 ppm. The result is encouraging, but recoverability and mineral continuity remain untested as the company shifts to laboratory work.
- 75 RC holes assayed across the Feirinha Prospect
- Best whole-hole result of 15m at 2,190 ppm TREO
- NdPr accounted for 19.3% of contained TREO
- Desorption, mineralogical and variability test work next
- No further Feirinha drilling planned under the current programme
Broad TREO enrichment confirmed at Feirinha
Magnum Mining and Exploration Limited (ASX:MGU; OTCID:MGUFF) has completed the first assay readout from its Feirinha Prospect in Bahia, Brazil, with all 75 submitted reverse-circulation holes returning results. The shallow programme tested approximately 8.3 km² and produced broad, anomalous total rare earth oxide enrichment, including a best whole-hole composite of 15 metres at 2,190 ppm TREO from surface in hole PAL-RC-25-0035.
That hole also delivered 8 metres at 3,372 ppm TREO from 6 metres, with a maximum two-metre interval of 4,940 ppm. Other notable whole-hole composites included 15 metres at 1,755 ppm in PAL-RC-25-0078, 15 metres at 1,071 ppm in PAL-RC-25-0066 and 15 metres at 874 ppm in PAL-RC-25-0013. The latter included two metres at 3,970 ppm TREO.
NdPr content strengthens the exploration signal
Neodymium and praseodymium, the principal magnet rare earths, represented 19.3% of contained TREO in the reported results. Several other holes produced sharp higher-grade zones within broader lower-grade composites, including two metres at 3,802 ppm TREO in PAL-RC-25-0062 and two metres at 3,681 ppm in PAL-RC-25-0081.
For shareholders, the important qualification is that these are total head grades, not recoverable or saleable product grades. The holes were shallow, generally drilled to 15 metres, and reported lengths are apparent down-hole intervals rather than confirmed true widths. The company has not yet established the mineral host, geological continuity or whether the mineralisation has an ionic-adsorption-style desorbable component.
Metallurgical work replaces drilling at Feirinha
Magnum will now select representative composites covering higher, moderate and lower head grades, different depths, NdPr-rich and DyTb/HREO-rich material, and both reported sectors of the prospect. Desorption, mineralogical and variability testing will examine mineral hosts, desorbable response, impurities and radionuclide characteristics.
No further Feirinha drilling is planned under the current programme. The dataset also has limitations that matter at this early stage: 42 northern control holes were not assayed, the five assayed northern holes are not representative of that wider drilling population, recovery data were not supplied, and two field-duplicate issues remain under investigation. Those caveats do not erase the reported intersections, but they leave the next laboratory results carrying much of the project’s immediate evidentiary burden.
Piracanjuba remains the nearer-term resource catalyst
Magnum’s operational focus remains its flagship Piracanjuba Prospect within the Azimuth REE Project, where a systematic 10,000-metre auger programme is under way. Nine drill rigs are at site and seven are currently operating, while the company is targeting a maiden Mineral Resource Estimate in November, subject to exploration results.
The announcement also corrects the previously described scale of the Palmares project. Rather than 18 exploration licences covering about 348 km², the project comprises a single granted exploration permit covering 1,933.30 hectares. The correction is administrative rather than an assay result, but it gives investors a more precise picture of the tenure behind the Feirinha work.
Bottom Line?
Feirinha has supplied a credible shallow exploration signal, but the next value test is whether its TREO can be desorbed and processed rather than simply measured in the rock.
Questions in the middle?
- Will desorption testing show that the Feirinha mineralisation is materially recoverable under controlled laboratory conditions?
- Can the shallow intersections be linked into a consistent mineralised profile with established true widths and geological continuity?
- Will Piracanjuba deliver enough drilling evidence to support the targeted November Mineral Resource Estimate?