Enova’s CODA Project Shows Open-Ended Critical Mineralisation Amid Early Stage Risks

Expanding the Critical Minerals Frontier

Enova Mining Limited (ASX, ENV) has reported compelling new assay results from its ongoing auger drilling program at the CODA East and CODA Central projects in Minas Gerais, Brazil. The latest data confirm extensive near-surface mineralisation of titanium oxide (TiO2), rare earth elements (REEs), and niobium oxide (Nb2O5) within saprolitised kamafugite formations. These findings reinforce CODA’s emergence as a strategically significant multi-commodity critical minerals hub.

Highlights from CODA East include titanium oxide intercepts reaching up to 20 metres at 14.72% TiO2, alongside rare earth element concentrations exceeding 3,700 parts per million (ppm) TREO and niobium oxide grades surpassing 1,000 ppm. CODA Central also delivered robust results, with titanium intercepts up to 12 metres at 12.46% TiO2 and similarly encouraging REE and niobium values.

Geological and Strategic Context

The mineralisation is hosted within a clay-rich, reddish-brown saprolite profile of the Patos Formation’s kamafugite unit, which is favourable for auger drilling and beneficiation. The deposits remain open both at depth and along strike, suggesting significant upside for resource expansion. Enova’s CEO, Eric Vesel, emphasised the scale and coherence of the mineralised system, noting the high titanium grades and elevated rare earth element ratios as indicators of a robust critical minerals footprint.

Brazil’s Minas Gerais region offers a stable, investor-friendly mining jurisdiction with well-developed infrastructure, further enhancing the project’s development potential. The CODA tenements, currently held by RBM Consultoria Minera Ltda, are in the process of being transferred to Enova, streamlining operational control.

Advancing Metallurgical Understanding

Complementing the exploration success, Enova is progressing metallurgical test work to optimise extraction of titanium, rare earths, niobium, and associated critical metals. Collaborative efforts with Mineral Technologies in Brisbane and Core Resources aim to refine beneficiation and processing pathways. Early roasting and leaching tests at Enova’s Malaysian laboratory are underway, with larger-scale metallurgical testing scheduled for early 2026.

Next Steps and Market Implications

Enova plans to continue auger drilling at CODA East to broaden coverage and enhance geological understanding, alongside systematic infill and step-out drilling across CODA East, Central, and the newly targeted CODA XN tenement. These efforts will underpin future resource delineation and support the company’s positioning in the critical minerals sector, which is pivotal to the global energy transition.

While the results are preliminary and resource estimates remain speculative, the combination of high-grade mineralisation, favourable geology, and advancing metallurgical programs positions Enova as a notable player in Brazil’s critical minerals landscape.