St George Mining Executive Chairman John Prineas talked with Proactive about the latest drilling results from the Araxá rare earths and niobium project in Brazil.
Prineas announced that the company had intersected its thickest and highest-grade intercept to date — 139 metres from surface, with more than 4% total rare earth oxides (TREO) and over 5.5% near-oxide. He emphasised that this mineralisation starts right from surface, unlike some rival deposits which begin 50 to 100 metres below ground. “We won’t have any of that,” he said, referencing potential cost advantages in future development.
He also noted that the latest batch of assays from nine diamond holes showed consistency of high-grade mineralisation along strike, with intercepts of 80 to 100 metres and some zones close to the high-grade niobium zone returning economic grades.
Already the largest and highest-grade carbonatite-hosted rare earths resource in South America, Prineas said today's results take Araxá closer to becoming one of the top three rare earth and niobium deposits globally.
With drilling extended indefinitely due to continued success and open mineralisation laterally and at depth, the company is focused on adding further scale ahead of upcoming economic studies in 2026.
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