Magnum Mining Lifts Piracanjuba North to 492 Holes as Rare Earth Hits Repeat
Key Takeaways
- Magnum's Piracanjuba North database has grown to 492 holes from 373, with 80 of 119 new holes (67%) returning an interval above 150 ppm D-TREO.
- 101 of the new holes sit in four clusters covering ~7.19 km², which the company says points to repeatable rather than isolated mineralisation.
- PIR-AH-0420 returned 626 ppm D-TREO over 5 m, including 2 m at 946 ppm, with 188 ppm D-NdPr and 27.5 ppm D-TbDy.
- All results are initial, non-optimised desorption screening using ammonium sulphate at pH 4, not process recovery.
- The maiden JORC resource is targeted for end of November 2026, possibly slipping up to two weeks, with a DFS targeted for December 2027.
New assays define high-desorption zones across Piracanjuba North
Magnum Mining and Exploration (ASX: MGU) has lifted its Piracanjuba North analytical database to 492 holes, up from 373 previously reported, after 119 new-result holes returned assays. The rare earths project sits within the Company’s 100%-owned Azimuth REE Project in Goiás, Brazil.
Of the 119 new holes, 80 (67%) returned at least one original interval above 150 ppm D-TREO, 59 (50%) exceeded 200 ppm and 24 (20%) exceeded 300 ppm. D-TREO is the desorbable total rare earth oxide grade, the portion released in laboratory screening.
Of the 119 holes, 101 fall within four result clusters covering a combined ~7.19 km². The company says this points to repeatable rather than isolated high-desorption mineralisation.
Antonio Vitor Junior, Executive Chairman and Managing Director
“These results show that elevated desorption grades are recurring across several parts of the Plateau…”
A quick note on terms: D-prefix grades are laboratory desorption-screening results, not metallurgical or process recovery.
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Flagship holes deliver heavy and light magnet rare earths
Magnet rare earths matter because NdPr (neodymium and praseodymium) and TbDy (terbium and dysprosium) are the elements the company highlights in its magnet-related results. Several holes returned both.
Standout intersections
The table shows the longest run in each featured hole where every original sample exceeded 300 ppm D-TREO. Values are rounded, and blank cells mean the source figure was not highlighted in the announcement text.
| Hole | Down-hole interval | D-TREO (ppm) | D-NdPr (ppm) | D-TbDy (ppm) |
|---|---|---|---|---|
| PIR-AH-0420 | 5 m from 10 m to EOH | 626 | 188 | 27.5 |
| PIR-AH-0491 | 5 m from 4 m to EOH | 612 | 195 | 21.7 |
| PIR-AH-0494 | 6 m from 6 m to EOH | 461 | 133 | 18.3 |
| PIR-AH-0501 | 8 m from 6 m | 428 | 173 | 6.1 |
| PIR-AH-0447 | 4 m from 14 m to EOH | 518 | 167 | 17.4 |
EOH means end of hole. “Including” rows in the source are constituent samples within a composite and are not added to it. PIR-AH-0420 also includes a sub-interval of 2 m at 946 ppm D-TREO from 12 m.
Depth and continuity
- 15 new holes contain at least 3 m of consecutive original samples with every sample above 300 ppm D-TREO.
- 39 of 119 new holes (33%) end with their final sampled interval above 150 ppm D-TREO.
The company describes these end-of-hole results as priorities for deeper testing, not evidence of extension below current hole depths.
Four result clusters point to a repeatable system
The clusters are concentrations of higher-response drilling within and along the margins of the broader Plateau. Here is how the new holes performed in each.
| Cluster | Area | New holes | % above 200 ppm D-TREO | % above 300 ppm D-TREO |
|---|---|---|---|---|
| East | 3.88 km² | 49 | 65% | 33% |
| North | 0.35 km² | 10 | 60% | 30% |
| Central | 1.29 km² | 17 | 35% | 12% |
| Southeast | 1.66 km² | 25 | 52% | 8% |
Cluster East develops around the original regional discovery holes PIR-AH-0083 and PIR-AH-0091 and now contains the largest concentration of new high-desorption results. Cluster Southeast stands out for its stronger TbDy signature, with 44% of new holes returning at least one interval above 10 ppm D-TbDy.
These clusters are exploration interpretation areas, not Mineral Resource domains or classification boundaries. Average nearest-neighbour drill spacing across completed collars ranges from about 153 m to 181 m, which describes exploration density only.
The 101 cluster holes and the 73 new Plateau holes are separate analytical views and are not additive.
What are ionic adsorption clay (IAC) deposits?
Ionic adsorption clay deposits form when rare earths in weathered granite cling to clays. A mild salt solution can release them, which is why the laboratory screening here uses ammonium sulphate.
For you as an investor, desorption screening is an early indicator, not a measure of what a plant would recover. The company stresses that all results to date are initial, non-optimised screening results using ammonium sulphate at initial pH 4, and that reagent concentration, pH, contact time and downstream process parameters have not yet been optimised.
The company says the broad shallow weathered-granite footprint, repeat saprolite desorption and preferential magnet/HREE desorption are consistent with the classical granite-hosted IAC exploration model. Saprolite is the weathered, clay-rich layer of rock above fresh bedrock.
The Piracanjuba IAC discovery first established the classical granite-hosted model that these later assay batches continue to test, with repeat saprolite desorption now recorded across multiple parts of the Plateau.
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Plateau scale and the path to a maiden resource
32.5 km² Plateau Zone
Across the 32.5 km² Plateau Zone, assay coverage rises from 221 to 294 holes. Of the 73 new Plateau holes, 42 (58%) exceeded 200 ppm D-TREO, compared with 177 of 294 holes (60%) in the combined population.
As supporting data, the spatially weighted saprolite population averages approximately 208.5 ppm D-TREO and 7.4 ppm D-TbDy over the best continuous 4 m interval in each eligible hole. These figures are not Mineral Resource grade.
Next steps and timeline
The company has set out the following programme:
- The initial 10,000 m auger programme is complete. Infill drilling is underway, with approximately 751 m completed to date.
- The maiden JORC Mineral Resource Estimate is targeted for the end of November 2026, subject to completion of the required analytical and geological inputs. As advised on 18 September 2026, this may extend by up to two weeks should laboratory turnaround times remain elevated.
- CETEM mineralogy and ore characterisation is targeted for October 2026, followed by metallurgical optimisation testwork targeted for November 2026.
- NORM (naturally occurring radioactive material) assessment with GLP Laboratorio is targeted for October 2026.
- An Initial Scoping Study is targeted for January 2027, a Preliminary Feasibility Study for June 2027 and a Definitive Feasibility Study for December 2027. These are target dates only, subject to exploration results, technical outcomes, approvals and funding.
The takeaway is straightforward. Successive assay batches continue to identify new higher-response areas rather than concentrating results in a single zone, which sets up the maiden resource estimate as the next major catalyst for Magnum.
Ready to Learn More About Magnum’s Piracanjuba North Rare Earths Project?
Magnum Mining and Exploration (ASX: MGU) has lifted its Piracanjuba North database to 492 holes, with four result clusters covering about 7.19 km² pointing to repeatable high-desorption mineralisation. With a maiden JORC Mineral Resource Estimate targeted for November 2026, the project is moving toward its next major catalyst.
Investors can explore the Magnum Mining and Exploration company profile for more on the Azimuth REE Project, the drilling results and the development timeline. Reviewing the full detail is a practical step before assessing the opportunity.