Axel REE Limited (ASX: AXL) has announced a substantial upgrade to the Mineral Resource Estimate (MRE) for its Caladão Rare Earth Element (REE) – Gallium Project in Minas Gerais, Brazil. Axel REE is a critical minerals exploration company primarily focused on developing the Caladão REE-Gallium and Caldas REE Projects in Brazil. It is advancing a modular development concept at Caladão based on in situ recovery (ISR) of ionic clay-hosted rare earth mineralisation. The latest drilling results from the Woolrich deposit have led to a significant increase in both REE and Gallium resources, underpinning the project’s development potential.
The Woolrich MRE has more than doubled to 264.6 million tonnes (Mt) at 1,101 parts per million (ppm) Total Rare Earth Oxide (TREO) and 34.7 ppm Gallium, representing a 107% increase in tonnage. Notably, a maiden Indicated Mineral Resource of 110.1 Mt at 1,073 ppm TREO and 35.1 ppm Gallium has been established, accounting for approximately 42% of the updated Woolrich MRE. Managing Director Patience Mpofu highlighted this as a significant development, noting the increased geological confidence provides a stronger foundation for integrating metallurgical, hydrogeological, and field data for the in situ recovery (ISR) development program. Woolrich is Axel’s priority area for a controlled ISR field validation program.
This upgrade significantly contributes to the overall Caladão Global MRE, which now totals 708.6 Mt at 1,443 ppm TREO, a 24% increase from previous estimates. The project’s Gallium MRE also saw a 31% increase, reaching 575.7 Mt at 37.05 ppm Gallium, potentially positioning it as one of the largest known discrete gallium resources globally. Axel is investigating low-impact methods to optimise Gallium recovery and improve project economics, aligning with growing geopolitical interest in strategic metals like Gallium. The company plans to continue leach optimisation and hydrogeological characterisation to support the design of the Woolrich ISR field validation program, aiming for a potential first-mover advantage in commercial low-impact ISR REE extraction in the region.
