St George Mining Ltd (ASX:SGQ) executive chairman John Prineas talked with Proactive about strong developments at the company’s 100%-owned Araxá rare earths project in Brazil, including a new strategic alliance with US-based REAlloys Inc.
Prineas outlined promising early results from a 10,000-metre drill campaign currently underway. Notably, shallow drilling that uncovered a new zone of high-grade rare earths, with intercepts such as 13% and 12% total rare earth oxides. “We’re hopeful this is going to pan out to be a standalone rare earth deposit,” Prineas said.
In parallel, drilling at the main deposit area continues to return thick mineralised intercepts exceeding 40 metres, reinforcing the economic potential of the broader project.
The company is also looking to significantly expand its current JORC resource of 40.60 million tonnes at 4.13% TREO. “We’re expanding to the east, the west and the north,” he added, suggesting a potential upgrade to its globally significant rare earths inventory.
On the downstream side, St George’s new partnership with REAlloys — a government-backed US entity — could provide a pathway into the US defence and clean energy supply chain. Metallurgical testing will soon begin on Araxá material to assess its suitability for magnet production.
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