Brazilian Critical Minerals Validates Compelling Ema Rare Earth Leach Results

Brazilian Critical Minerals Confirms Compelling Leach Results Across Kilometres of Rare Earth Mineralisation at Ema

Brazilian Critical Minerals Limited (ASX: BCM) has delivered a significant technical milestone for its Ema Ionic Clay Rare Earth Project in Brazil, announcing strong magnesium sulphate leach results from its 2025 extensional drilling campaign. Across 56 holes and 262 samples, the Brazilian Critical Minerals Ema rare earth leach results in Brazil confirm that the deposit responds consistently and robustly to the low-acid leaching method proposed for in-situ recovery (ISR) development — with the Bankable Feasibility Study (BFS) now targeted for release in June 2026.

What the Numbers Say: Do Leach Recoveries Match the Scoping Study?

The headline finding is deceptively simple but highly significant: the average leach recoveries returned from the 2025 drilling programme are exactly in line with the assumptions used in the February 2025 Scoping Study.

• 48% TREO (Total Rare Earth Oxide) average recovery across 58 intercepts within the mineralised horizon
• 62% MREO (Magnetic Rare Earth Oxide) average recovery
• MREO:TREO ratio averaging 39%, placing Ema among the higher-grade magnetic rare earth peers globally

This alignment matters enormously for investor confidence. When real-world drilling data reproduces Scoping Study assumptions at scale across kilometres of mineralisation, it reduces technical risk and strengthens the foundation for the upcoming BFS.

"These magnesium sulphate leach results continue to strengthen our confidence in Ema as a globally significant ionic clay rare earth project with strong potential for low-cost ISR development."
— Andrew Reid, Managing Director, Brazilian Critical Minerals

Standout Intercepts from the 2025 Campaign

Several individual drill holes returned exceptional results, particularly within the lower saprolite horizon — the zone immediately above fresh basement rock where ionic rare earth enrichment is most concentrated.

EMA-TR-492 is particularly notable — it includes a peak 1-metre interval of 1,693 ppm leached TREO, with 502 ppm NdPr and 66 ppm DyTb, highlighting the presence of high-grade heavy rare earth enrichment pods at the base of the weathering profile.

Additional peak 1-metre values include 1,074 ppm soluble TREO in EMA-TR-465 and 1,006 ppm soluble TREO in EMA-TR-477, further confirming localised high-grade pods across the system.

Understanding In-Situ Recovery (ISR) and Why It Matters

What Is ISR?

In-Situ Recovery (also called In-Situ Leaching) is a mining method where a leaching solution — in this case, mild magnesium sulphate — is injected directly into the ground through a network of wells. The solution dissolves the target minerals from the clay, and the mineral-bearing solution is then pumped back to surface for processing. Critically, there is no need to excavate or process large volumes of rock.

Why Does It Matter for Investors?

ISR is widely recognised as one of the lowest-cost extraction methods available for ionic clay rare earth deposits. It avoids the capital and operating costs associated with conventional open-pit mining and bulk ore processing. Furthermore, the Chinese ionic clay operations in Jiangxi Province — the world's primary source of heavy and magnetic rare earths — rely on this same basic approach.

For Ema to be viable as a low-cost ISR project, the mineralisation must be:

1. Consistently leachable under mild conditions ✅
2. Concentrated in a geologically predictable zone that can be efficiently targeted ✅
3. Continuous enough across the deposit to support a long mine life ✅

The Brazilian Critical Minerals Ema rare earth leach results in Brazil confirm all three criteria are being met.

Glossary of Key Terms

The Geological Story: Why Is the Lower Saprolite Zone the Key?

One of the most consistent themes across all drill holes is the progressive enrichment of rare earth grades toward the base of the weathering profile — the lower saprolite zone, sitting directly above fresh ignimbrite (volcanic rock).

This zone typically measures approximately 10 metres in thickness and delivers:

• The highest soluble TREO values
• The highest proportions of MREO — including NdPr, and critically DyTb
• Consistent positioning across the deposit regardless of topographic variation at surface

The significance of the DyTb enrichment at depth deserves particular attention. Dysprosium and terbium are among the most valuable and strategically critical rare earth elements, and their concentrations at the base of the weathering profile enhance the economic value of the ISR target zone considerably.

The consistent depth positioning of this enriched zone across widely spaced drill holes — despite varying collar elevations — strongly indicates a laterally continuous mineralised horizon. This is exactly the geological architecture required to underpin a large-scale, multi-decade ISR operation.

Scale of the Deposit: The MRE Context

The leach results are grounded in a substantial Mineral Resource Estimate updated in April 2026.

At 1,071 million tonnes, Ema is one of the highest-tonnage ionic clay rare earth deposits recorded anywhere in the world outside China. Importantly, the leach results confirm that the soluble MREO:TREO ratio in the mineralised horizon averages 39% — considerably higher than the 25% MREO:TREO ratio reported in the MRE.

This gap highlights that the extractable rare earth basket is more magnetic-rare-earth-rich than the bulk resource figures suggest, which is a meaningfully positive distinction for the project's commercial outlook.

Comparison to Chinese Ionic Clay Deposits: A Defining Characteristic

BCM has consistently drawn parallels between Ema and the ionic clay deposits of southern China, and the Brazilian Critical Minerals Ema rare earth leach results in Brazil reinforce this comparison meaningfully.

The Chinese deposits remain the world's dominant source of low-cost heavy and magnetic rare earth production. Ema sharing these geological and metallurgical characteristics is, therefore, a fundamental part of BCM's investment thesis.

Upcoming Catalysts: What Should Investors Watch For?

The company has outlined a clear near-term pipeline of value-adding milestones.

The BFS will incorporate the updated April 2026 MRE, ANSTO metallurgical test results, and WSP groundwater modelling data. The acceleration of financing discussions from Q3 2026, combined with active offtake negotiations, signals that BCM is progressing Ema from a study-stage asset toward a credible development-stage project.

Why Investors Should Keep a Close Eye on BCM

Several converging factors make Ema a project of genuine significance:

1. Scale: A total MRE of 1,071 Mt positions Ema among the largest ionic clay rare earth deposits in the world outside China.
2. Leach validation: Average TREO and MREO recoveries matching Scoping Study assumptions across 56 holes reduces technical risk substantially heading into the BFS.
3. Magnetic rare earth emphasis: A leached MREO:TREO ratio averaging 39% places Ema in a strategically advantageous position given the demand outlook for NdPr, Dy, and Tb.
4. Low-cost extraction pathway: ISR avoids conventional mining capital and operating expenditure, and the geological controls at Ema are well-suited to this approach.
5. BFS imminent: Release of the BFS in June 2026 represents a material de-risking event for the project.
6. Chinese analogue: The deposit's resemblance to producing Chinese ionic clay operations provides a real-world operating template for low-cost rare earth production.

In conclusion, the Brazilian Critical Minerals Ema rare earth leach results in Brazil have validated the company's ISR development strategy across kilometres of mineralisation. With the Bankable Feasibility Study approaching and financing discussions set to accelerate, investors would be well advised to watch closely as Brazilian Critical Minerals advances toward a development decision.

Brazilian Critical Minerals has positioned Ema as one of the most compelling ionic clay rare earth developments outside of China, with leach recoveries confirmed across kilometres of mineralisation that directly validate the company's ISR development strategy. The consistent TREO and MREO recoveries matching Scoping Study assumptions provide the technical foundation for the June 2026 BFS release, positioning the project as a potential strategic supplier to Western rare earth supply chains.

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