Axel REE (ASX: AXL) has announced further high-grade assay results from its Caladão project in Minas Gerais, Brazil, defining a significant gallium opportunity. Axel REE is focused on identifying and developing rare earth element resources. The company’s Caladão project is located in a highly prospective region known for its mineral wealth.
The new results come from an ongoing auger drilling program at Area B within the Caladão project. These results continue to highlight the presence of broad, laterally extensive rare earth elements (REE) and gallium zones. The program has returned numerous high-grade gallium intercepts, including 9 metres at 86 grams per tonne gallium from surface, 4m at 95g/t gallium from surface, and 15m at 83g/t gallium from surface.
Non-executive chair Paul Dickson stated that the results so far have highlighted the potential for a coherent, laterally extensive resource footprint of high-grade REE intercepts. He added that the correlation between elevated gallium values overlying the rare earth zones with enhanced total rare earth oxide grades adds strategic value to the project economics. Axel REE has completed 597 auger holes for a total of 8,449 metres across key target zones in the ongoing program at Caladão.
These recent results support Axel’s report in mid-June of high-grade gallium intercepts from 97 holes in its Phase 2 auger drilling program at Area B. The company plans to incorporate these results into defining maiden mineral resource estimates at both Area A and B to demonstrate the scale and strategic potential of the broader Caladão system. Gallium is classified as a critical mineral by several countries due to its essential role in high-tech applications.
