Axel REE Ltd (ASX:AXL) Chairman and Director Paul Dickson talked with Proactive about the company’s maiden inferred resource estimate for rare earth elements at the Caladão REE-Gallium Project in Brazil.
Dickson explained that Axel has outlined an inferred rare earth resource of 233.00 million tonnes at 2,140 ppm, situated directly beneath the company’s gallium resource, which starts from surface. He noted: “In the rare earth resource, we have 22% as a percentage of magnetic rare earths. These include dysprosium and terbium, the ones that people pay real money for.”
According to Dickson, having two resources within the same deposit is strategically significant. The gallium sits above the rare earths, meaning it would need to be mined as overburden regardless, now providing additional economic value.
Looking ahead, Axel plans to upgrade its resource inventory. The company is working on improving recoveries from 31% to 50%, which could potentially double the size of the rare earth deposit without further drilling. At the same time, drilling programs are planned to upgrade the current inferred resource to indicated status, test deeper mineralization, and extend exploration into areas B and C, where early work has already identified significant potential.
Dickson added that the company expects continued news flow in the coming months as it advances exploration and prepares for technical studies.
For more updates on Axel and other resource companies, visit Proactive’s YouTube channel. Don’t forget to give the video a like, subscribe to the channel, and enable notifications so you don’t miss future content.
#RareEarths #Gallium #BrazilMining #CriticalMinerals #REE #MiningStocks #CaladãoProject #BatteryMetals