Magnum Mining Hits 10,000m Milestone and Eyes JORC Resource by November
Key Takeaways
- Magnum Mining has completed its 10,000m auger drilling programme at Piracanjuba North, with a total database of 10,313.97m across 867 collars — marking a clear transition from exploration to resource definition.
- The Plateau Zone, a single well-defined domain of approximately 32.5km², now holds 576 of 867 total collars and is the target for a further 2,000m diamond drilling infill phase.
- Three independent technical providers — GLP (NORM assessment), GE21 (JORC MRE and Scoping Study), and CETEM (ore characterisation and metallurgical testwork) — are running concurrently, not sequentially.
- A JORC Mineral Resource Estimate is targeted for completion by end of November 2026, with a potential two-week extension flagged if laboratory turnaround times remain elevated.
- The project sits against a previously defined 700–1,200Mt exploration target and a strategic backdrop of Chinese REE export restrictions, elevating the value of non-Chinese ionic adsorption clay deposits reaching resource-definition stage.
10,000m drilled: Magnum shifts Piracanjuba focus to resource definition
On 18 September 2026, Magnum Mining and Exploration Limited announced the completion of its 10,000m auger drilling programme at the Piracanjuba North Project, part of the 100%-owned Azimuth rare earth element (REE) Project in Goiás, Brazil. The total drilling database now stands at 10,313.97m across 867 collars, with 7,137.42m across 576 collars concentrated on the Plateau Zone, a single well-defined domain of approximately 32.5km².
The milestone marks a clear phase transition: systematic scale-proving drilling is complete, and the focus now shifts to tighter resource-definition infill drilling and three parallel independent technical workstreams.
Executive Chairman Antonio Vitor
“Completing the 10,000 metre drilling milestone changes the focus at Piracanjuba from proving scale to defining the best parts of the system. Our drilling is now being directed into the Plateau for tighter-spaced geological control, while independent resource, NORM and metallurgical workstreams advance in parallel.”
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The Plateau Zone becomes the resource-definition target
The Plateau Zone has emerged as the principal domain for infill drilling and future Mineral Resource Estimation (MRE). With 576 of 867 total collars already concentrated there, it offers the highest drilling density and the clearest path to a coherent geological model.
A further 2,000m diamond drilling (DD) phase is planned to prioritise infill across the most prospective Plateau domains. This phase will use a high-recovery, water-free configuration designed to improve sample recovery and enable efficient advancement through key weathering horizons, integrating received assay results with holes where laboratory results remain pending.
The Plateau Zone’s significance becomes clearer in the context of the 700-1,200Mt exploration target previously defined at Piracanjuba North, a scale estimate that now underpins the case for tighter infill drilling and a formal JORC resource process.
It is worth noting that no new assay or desorption results are reported in this announcement. The metreage and collar counts are drawn from the Company’s drilling database as at the 15 September 2026 data cut.
Key reasons the Plateau focus matters:
- Single, well-defined geological domain enabling coherent resource modelling
- Highest density of completed drilling (576 of 867 total collars)
- Planned 2,000m DD phase to integrate pending assay results with infill geometry
Three independent workstreams running in parallel
Magnum has engaged three independent technical providers to advance concurrent workstreams alongside Plateau infill drilling, rather than sequentially. The objective is to convert the completed exploration programme into a defensible geological model, an independently prepared Mineral Resource framework, and an initial understanding of processing behaviour, while addressing key technical risks early.
| Provider | Workstream | Purpose |
|---|---|---|
| GLP | NORM assessment | Characterise naturally occurring radioactive material and establish the radiological baseline required for metallurgical, environmental and development planning. |
| GE21 | JORC MRE + Scoping Study | Build the independent geological/resource model and, subject to sufficient supporting data, progress the project through a JORC Mineral Resource Estimate and initial Scoping Study. |
| CETEM | Ore characterisation + preliminary met-test | Define mineralogical and physical ore characteristics and complete preliminary metallurgical testing to support the process-development pathway. |
The Company targets completion of the JORC Mineral Resource Estimate by the end of November 2026. It notes the potential for this timetable to extend by up to two weeks should laboratory turnaround times remain elevated. Those turnaround times have recently extended to approximately double the typical processing period, delaying the receipt of assay results.
What is a JORC Mineral Resource Estimate, and why does it matter?
A JORC Mineral Resource Estimate (MRE) is an independently prepared, standardised estimate of the quantity and grade of mineralisation in a deposit, reported under the JORC Code 2012. For junior explorers, it is a critical de-risking milestone: it converts raw drilling data into a recognised, bankable resource figure that underpins scoping studies, project financing, and investor confidence. Without it, a project remains speculative. With it, the conversation shifts to economics. Magnum’s 10,000m+ drilling database now provides the foundation for GE21 to build this model at Piracanjuba.
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Near-term catalysts and what they mean for investors
This announcement signals that Magnum has transitioned from a drilling story to a resource-definition story. The next several months carry multiple catalysts, each capable of materially advancing the project’s standing.
- Completion of Plateau-focused infill drilling and integration of pending laboratory results
- Finalisation of the NORM characterisation programme by GLP
- Independent geological modelling and JORC Mineral Resource Estimate by GE21, targeted by end of November 2026
- Ore characterisation and preliminary metallurgical testwork by CETEM
- Progression to a Scoping Study, subject to the MRE and supporting technical data
Each of these milestones represents a discrete value-inflection point. Investors watching Magnum over the coming months have a visible, sequenced pipeline to track rather than waiting on a single result.
The investor attention surrounding Piracanjuba reflects a broader strategic rare earth supply context, with China’s export restrictions on key REE products elevating the value placed on non-Chinese ionic adsorption clay deposits that can reach the resource-definition stage.
Ready to Track Magnum Mining’s Path to a JORC Resource at Piracanjuba North?
With over 10,000m drilled and three independent technical workstreams now running in parallel, Magnum Mining is advancing rapidly from exploration to a formal Mineral Resource Estimate — targeted for completion by the end of November 2026. The Plateau Zone’s scale, drilling density, and proximity to a JORC-compliant resource framework position Piracanjuba North as a compelling rare earth project to watch in the months ahead.
Investors seeking to follow each milestone in this resource-definition phase can explore Magnum Mining’s full project profile and latest announcements on Discovery Alert for in-depth coverage as the programme unfolds.