Magnum Mining’s Four-Centre REE System Hits 2,344ppm TREO With 85% Desorption
Magnum’s Piracanjuba North delivers strong REE hits across four separate centres
Magnum Mining has reported its third batch of rare earth element results from Piracanjuba North, with all 92 newly reported auger holes returning anomalous drilled Total Rare Earth Oxides (TREO). This takes the tally to 214 of 214 holes reported to date returning anomalous values at the 100%-controlled Azimuth REE Project in Goiás, Brazil. Whole-hole composite grades from the latest batch range from 186ppm to 2,344ppm TREO. Critically, mineralisation is proving repeatable across multiple centres—not dependent on a single isolated drill hit—with the interpreted 116km² geophysical anomaly (geophysical target only, not a drill-defined mineralised footprint) continuing to support the potential for laterally extensive rare earth enrichment.
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Standout intercepts across PN-1, PN-2, PN-5 and PN-6
The third batch delivered material intersections across four separate target centres, underscoring the multi-centre character of the emerging system. Selected highlights include:
| Hole ID | Centre | Intercept | Included High-Grade Interval | Peak D-TREO |
|---|---|---|---|---|
| PIR-AH-0142 | PN-6 | 12m @ 2,344ppm TREO from 0m | 2m @ 3,066ppm TREO from 6m | 401ppm D-TREO (13% desorp.) |
| PIR-AH-0223 | PN-5 | 12m @ 1,208ppm TREO from 0m | 2m @ 2,067ppm TREO from 8m | 282ppm D-TREO (14% desorp.) |
| PIR-AH-0184 | PN-2 | 9m @ 1,238ppm TREO from 0m | 2m @ 1,213ppm TREO from 4m | 521ppm D-TREO (43% desorp.) |
| PIR-AH-0186 | PN-2 | 10m @ 1,100ppm TREO from 0m | 2m @ 998ppm TREO from 6m | 492ppm D-TREO (49% desorp.) |
| PIR-AH-0222 | PN-5 | 13m @ 535ppm TREO from 0m (48% desorp.) | 2m @ 945ppm TREO from 10m (69% desorp.) | 651ppm D-TREO |
| PIR-AH-0157 | PN-1 | 6m @ 400ppm TREO from 0m (68% desorp.) | 2m @ 705ppm TREO from 4m (85% desorp.) | 600ppm D-TREO |
Why the high desorption percentages matter
Several intervals returned very high desorbable percentages—PIR-AH-0157 at 85% desorption, PIR-AH-0222 at 69% desorption—using ammonium sulphate screening. Desorbable REE (reported as D-TREO, D-MREO, and D-TbDy) are laboratory screening indicators for ionic adsorption clay-style deposits. These values flag REE that are loosely bound to clay particles and potentially extractable via simple leaching. However, the Company emphasises that D-TREO, D-MREO, and D-TbDy are laboratory screening indicators only—not final metallurgical recovery figures or economic value confirmation.
What is an ionic adsorption clay (IAC) REE deposit—and why investors care
Ionic adsorption clay (IAC) deposits form through deep tropical weathering, which breaks down granite bedrock into clay and saprolite. During this process, rare earth elements become loosely bound—”adsorbed”—to clay minerals. Because the REE are held by weak ionic bonds rather than locked in crystalline lattices, they can potentially be recovered using straightforward leaching with ammonium sulphate or similar reagents. This extraction method is often lower cost and lower impact than hard-rock REE processing.
Magnum’s diamond drilling at Piracanjuba North (hole PIR-DDH-0001) confirmed granite bedrock, and weathering has created the clay/saprolite conditions consistent with an IAC-style system.
Key REE terms:
- TREO: Total Rare Earth Oxides—the sum of all rare earth elements expressed as oxides
- MREO: Magnet Rare Earth Oxides—NdPr (neodymium-praseodymium) and TbDy (terbium-dysprosium), critical for permanent magnets
- D-TREO / D-MREO: Desorbable equivalents—laboratory screening indicators only, not final recovery or product value
- NdPr / TbDy: High-value magnet metals used in electric vehicle motors and wind turbine generators
IAC deposits are prized for their magnet rare earth endowment, which directly supports the energy transition supply chain.
A multi-centre system taking shape
Four separate centres are now confirmed with mineralisation, each adding weight to the interpretation of a large, multi-centre REE system:
- PN-1: Expanding across a large target footprint with consistent shallow enrichment
- PN-2 (western): Three successive mineralised holes along a follow-up trend (~375m strike length, with adjacent spacings of ~204m and ~173m)
- PN-5: Increasing terminal desorption response in several step-out holes
- PN-6: Follow-up mineralisation approximately 1km from previously reported hole PIR-AH-0035
Each successful step-out provides new data on lateral extent, vertical thickness, weathering-profile position, and desorbable grade—the parameters required to build defensible geological domains for an Exploration Target and, subsequently, a Mineral Resource Estimate.
The 116km² figure referenced throughout the programme is a geophysical target footprint only. It is not a drill-defined mineralised footprint, Exploration Target, or Mineral Resource. Insufficient exploration has been completed to estimate a Mineral Resource across the geophysical anomaly, and it is uncertain whether further exploration will result in one.
Drilling ahead of schedule with nine rigs on site
Operational momentum at Piracanjuba North is accelerating. Key programme milestones include:
- 9 rigs now on site (including units undergoing commissioning)
- 772m drilled from 61 auger holes in the latest complete week—sixth consecutive weekly increase
- 5,739.4m completed across 498 auger holes of the 10,000m programme
- First diamond hole PIR-DDH-0001 completed at 34.53m (assays pending)
- 10,000m auger phase now tracking toward completion in September 2026, ahead of the Company’s previous base schedule
The expanded rig fleet provides capacity to maintain multiple work fronts simultaneously and redirect drilling rapidly toward the highest-priority emerging centres. Completion timing remains subject to equipment availability, commissioning, land access, ground conditions, staffing, and the maintenance of geological, sampling, and QAQC controls.
Favourable location and a promising low-U/Th profile
Piracanjuba North benefits from logistical and technical de-risking factors that support continued exploration and potential future development:
- Located approximately 7km from Piracanjuba city and 93km by road from Goiânia
- Established road access, nearby grid infrastructure, regional water availability, services, sample storage facilities, and an available workforce
- Preliminary assay-derived estimates indicate low uranium activity comparable to natural background levels and low thorium relative to many ionic clay REE deposits
The Company cautions that these are assay-derived estimates and early-stage screening results. They will be validated through dedicated NORM (Naturally Occurring Radioactive Material) characterisation and metallurgical studies as the project advances.
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What’s next for Magnum
Magnum has outlined a clear near-term roadmap as it advances Piracanjuba North:
- Exploration Target: In final data-integration phase, targeted for early August 2026
- Maiden JORC Mineral Resource Estimate: Targeted for November 2026 onward
- Continue infill drilling; integrate results from PIR-DDH-0001; complete QAQC validation, density studies, mineralogy, clay speciation, and geometallurgy work
The Exploration Target will define conceptual ranges of area, thickness, volume, and grade for geologically supported domains. The potential quantity and grade of any Exploration Target will be conceptual in nature; insufficient exploration has been completed to estimate a Mineral Resource, and it is uncertain whether further exploration will result in one.
The results continue to support the interpreted 116km² geophysical anomaly and the potential for laterally extensive mineralisation at Piracanjuba North.
Magnum is advancing a large multi-centre REE system with discipline, combining systematic exploration with accelerating operational momentum at one of Brazil’s emerging rare earth districts.
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