Monte Alto Delivers Ultra-High 45.7% TREO and New Niobium-Tantalum Records

Record-Breaking Exploration Success

Brazilian Rare Earths Limited (ASX:BRE) has delivered a landmark quarterly report for December 2024, showcasing record exploration achievements at its flagship Monte Alto project in Brazil. The company announced ultra-high-grade rare earth element (REE) intercepts reaching up to 45.7% total rare earth oxides (TREO), with standout concentrations of neodymium-praseodymium (NdPr) at 69,558 ppm and heavy rare earths dysprosium-terbium (DyTb) at 11,696 ppm. These grades represent some of the highest ever recorded at Monte Alto, underscoring the project's exceptional resource potential.

Alongside rare earths, BRE reported new assay records for critical co-products including niobium at 1.7% Nb2O5 and tantalum at 962 ppm Ta2O5, as well as very high scandium (382 ppm) and uranium (5,781 ppm) grades. The mineralised envelope, rich in REE-Nb-Sc-Ta-U, has been extended in strike, depth, and continuity, remaining open for further expansion.

District-Scale Growth and New Discoveries

Airborne magnetics surveys have revealed a compelling district-scale mineralised system extending over 4 kilometres beyond the initial Monte Alto deposit. This interconnected high-grade system is supported by multiple new regional discoveries, including rare earth outcrops with up to 14.6% TREO, enriched in heavy rare earth elements such as dysprosium, terbium, and yttrium. Notably, a high-grade heavy rare earth discovery just 2.5 km south of the maiden deposit returned 14.6% TREO with exceptional Dy and Tb concentrations, highlighting the potential for a globally significant heavy rare earth resource.

Drilling also delineated large horizons of shallow monazite-sand mineralisation, with intercepts like 18 metres at 6.8% TREO from surface. These free-dig saprolite-hosted sands offer potential for lower-cost extraction methods, complementing the hard rock mineralisation below.

Outstanding Mineralogy and Metallurgy

Mineralogical studies confirmed chevkinite as the dominant mineral hosting the ultra-high-grade REE-Nb-Sc-Ta-U mineralisation at Monte Alto. This coarse-grained sorosilicate mineral contains exceptional concentrations of rare earths and critical co-products. Metallurgical test work on non-beneficiated 'run-of-mine' chevkinite demonstrated excellent leachability, achieving up to 94% TREO extraction under mild acid and atmospheric conditions. This simple and efficient processing route could significantly reduce capital and operating costs compared to traditional methods.

Strategic Critical Minerals Portfolio

Monte Alto's mineralisation includes 18 of the 50 critical minerals designated by the U.S. government as vital to economic and national security. This diverse portfolio encompasses rare earths, niobium, tantalum, scandium, and uranium, positioning BRE to supply multiple high-demand critical minerals from a single district-scale project.

Permitting Milestones and Corporate Progress

During the quarter, Brazilian Rare Earths secured approval of the Final Exploration Report for Monte Alto from Brazil's National Mining Agency (ANM), marking a key step toward obtaining a mining permit. Additionally, Final Exploration Reports for 20 other licences covering 324 km2 in the Rocha da Rocha Province were approved, expanding BRE's exploration footprint to 348 km2. These regulatory advances pave the way for accelerated development planning and potential future production.

Complementing its exploration and permitting progress, BRE's shares and American Depositary Receipts (ADRs) commenced trading on the OTCQX market in the United States, broadening the company's investor base and capital market access.

With exploration expenditures of nearly A$7 million during the quarter focused on drilling, assaying, and technical studies, BRE continues to invest heavily in unlocking the full potential of its Brazilian rare earth assets.