Auxico Resources Canada Inc (CSE:AUAG, OTCQB:AUXIF) said its sampling program at the Minastyc property in Colombia has revealed significant concentrations of rare earth elements and other critical minerals.
Minastyc, under complete control of Auxico, represents a critical mineral-rich project earmarked for a near-term small-scale production program.
Results from a 2021 campaign included substantial concentrations of various critical minerals, including niobium (Nb), gallium (Ga), rubidium (Rb), praseodymium (Pr), dysprosium (Dy), germanium (Ge), cerium (Ce), and samarium (Sm), highlighting the significant mineralization potential of these regions.
Notable findings at the Area 50 region include concentrations of 139.6 grammes per tonne (g/t) Nb, 26.4 g/t Ga, and 73.6 g/t Rb. Another sample showcased 34.4 g/t Nb, 165.6 g/t Pr, 14.4 g/t Dy, 22.7 g/t Ge, 1.022 kg/t Ce, and 98.3 g/t Sm.
At the TA Area, a series of samples, averaging 11.6 kg, yielded significant grades of 18.1 to 36.5 g/t Ga and 11.9 to 24.9 g/t Rb.
Moreover, observations from channel sampling across eight pits indicate the prevalence of mineralization within the clayish-rich conglomerate, particularly rich in Ta-Nb-Sn-REE's and other critical minerals.
Mark Billings, chairman of Auxico Resources, remarked: "The 30-sample campaign on eight of the pits further demonstrates the vast potential of the Minastyc property, with highly anomalous values being reported for Gallium and Rubidium, therefore enhancing the prospective nature of the project."
The extensive sampling data not only validates the property's potential but also facilitates the development of an accurate plan with key targets as Auxico progresses towards production.