Resouro Strategic Metals Inc. (RAU.AX) has announced promising assay results from its auger drilling program at the Tiros Titanium and Rare Earth Elements (REE) Project in Minas Gerais, Brazil. The drilling, conducted across 21 auger drill holes totaling 206 meters in the North block, revealed high-grade mineralization close to the surface, supporting the next steps towards a scoping study.
Key highlights include 1 meter at 22% TiO2 and 18,827 ppm TREO from 8 meters depth in hole FT-32, and 1 meter at 25.6% TiO2 and 12,138 ppm TREO from 19 meters in hole FT-28. Other notable results include 7 meters at 23.4% TiO2 and 8,149 ppm TREO from 5 meters depth in hole FT29, and 4 meters at 20.8% TiO2 and 14,229 ppm TREO from 6 meters depth in hole FT32.
These recent assays supplement the existing Mineral Resource Estimate (MRE) for the Central Block, which stands at 1.4 billion tonnes of Measured and Indicated Resource containing 165 million tonnes of titanium dioxide (TiO₂) and 5.5 million tonnes of Total Rare Earths Oxide (TREO). The MREO ratio is 27%. Additionally, there is an Inferred Resource of 500 million tonnes containing 60 million tonnes of TiO₂ and 1.85 million tonnes of TREO.
The company plans to produce a Resource Statement and develop a mine plan to complete a Scoping Study in support of a Trial Mining License application. Work has commenced on the Environmental Impact Study required for the licensing process. The Scoping Study aims to generate bulk samples of raw material from the North Block for potential offtake partners, testing market interest in direct shipping and guiding future development decisions.
Exploration is ongoing outside the Central block, with exploratory drilling confirming mineralization in the São Gotardo and North blocks. The Campos Altos block will be mapped to assess its exploration potential. Resouro’s Tiros project, encompassing 28 mineral concessions totaling 497 sq km, is strategically located in Minas Gerais, Brazil, approximately 350 km from Belo Horizonte.
