Aclara Resources Inc (TSX:ARA, OTC:ARAAF) chief operating officer Barry Murphy discusses a 77% increase in the mineral resource estimate (MRE) for the company's Carina Module in Brazil to 298 million tonnes (Mt) from the previously reported inferred mineral resource statement of 168Mt.
Murphy said this development strengthens Aclara's position as a key player in the heavy rare earths market, particularly with increased amounts of critical elements like dysprosium and terbium.
Murphy explained that these rare earths are crucial for the global shift towards electrification, and the Carina Module's resource quality remains high. He also discussed the compatibility of metallurgical recoveries with the company's pilot plant in Chile, which will soon be relocated to Brazil to better align with the Carina project. The company has also secured two additional mining rights adjacent to Carina, offering further exploration potential.
Looking ahead, Aclara Resources plans to release an updated preliminary economic assessment (PEA) in September and continue its pre-feasibility work, along with a second phase of drilling to refine resource estimates. This interview provides key insights into the future steps and strategic importance of the Carina module for Aclara Resources.