en.Wedoany.com Reported - Magnum Mining and Exploration (ASX: MGU) has launched a 10,000-meter drilling program at the Piracanjuba prospect within its Azimuth Rare Earth Elements project in Brazil, covering 830 holes across an 85-square-kilometer area. The program is being executed by five auger drill rigs and employs two grid configurations: 1000m x 100m and 200m x 200m. It is expected to support the definition of exploration targets by September 2026, with a JORC-compliant Mineral Resource Estimate to be submitted by November.

The drilling will focus on three key areas: 574 holes are planned for the North Piracanjuba zone, while a combined 256 holes are allocated for the Piracanjuba and South zones. Previous exploration has confirmed that the mineralization type is ion-adsorption clay-hosted. Desorption recovery rates can reach up to 75% for Total Rare Earth Oxides (TREO) and 94% for Magnetic Rare Earth Oxides (MREO), indicating the potential to recover high-value strategic rare earth elements under mild leaching conditions.

Initial assay results show peak TREO grades reaching 3971 ppm and MREO grades up to 1360 ppm, with the first round of 13 auger drill holes all intersecting near-surface rare earth mineralization. Chairman Michael David stated that the scale of the geophysical anomalies and existing results support the potential to delineate a large-scale ionic clay rare earth system. He emphasized the strategic value of Brazil as a crucial node in the critical minerals supply chain. As systematic exploration progresses, the company plans to continue releasing phased results in the coming months.

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