Resouro Strategic Metals Inc - Recent Drilling Results Released Producing Highest Grade/Thickness Results from the Tiros Project

Rhea-AI Summary

Resouro Strategic Metals Inc. provides an update on activities at the Tiros Rare Earths and Titanium project in Brazil. The recent assays reveal high-grade TREO, NdPr, and TiO2, indicating a globally significant REE and TiO2 project. However, the potential quantity and grade are still conceptual, and the initial resource target and historical resource estimates were not compliant with standards. The company is closing out the final stages of the acquisition of Tiros, with the approval of the issue of 4 million options to the Company's President & CEO, Chris Eager.

Toronto, Ontario--(Newsfile Corp. - January 18, 2024) - Resouro Strategic Metals Inc. (TSXV: RSM) (FSE: 8TX) ("Resouro" or the "Company") is pleased to provide an update on activities at the Tiros Rare Earths and Titanium project in Brazil ("Tiros Project" or "Project").

Key highlights from recent assays received include;

• 38 metres at 6,444 ppm TREO with 1,524 ppm NdPr and 17.5% TiO2 from 40m (Aircore)

• 34 metres at 4,216 ppm TREO with 1,020 ppm NdPr and 10.6% TiO2 from 24m (Aircore)

• 28 metres at 4,585 ppm TREO with 1,012 ppm NdPr and 12.7% TiO2 from 29m (Aircore)

• 12 metres at 8,150 ppm TREO with 1,575 ppm NdPr and 20% TiO2 from surface (Auger)

• 10.5 metres at 7,181 ppm TREO including 2,222 ppm NdPr and 17.5% TiO2 from surface (Auger)

• 14 metres at 4,340 ppm TREO with 911 ppm NdPr and 12.1% TiO2 from 29m (Auger)

In summary, the 518 samples taken from the 13 holes (AC and Auger) in the recent campaign produced (see figures 1 - 3)

• 83% of the samples had a TREO grade above 3,000 ppm;

• 84% of the samples had a NdPr grade of over 500 ppm; and

• 85% of samples had a TiO2 grade of over 10%.

Note: The potential quantity and grade are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Commenting on the significance of these high-grade assays results from Tiros, CEO and President of Resouro, Chris Eager, said:

"We are extremely pleased with the assay results from the recent drilling campaign at Tiros, which demonstrate both the highest grades (TREO, NdPr and TiO₂) and thicknesses we have seen at the project to date. Drilling to date has consistently demonstrated thick intercepts of high-grade TREO and TiO₂. The latest results continue to indicate Tiros could be a globally significant REE and TiO₂ project."

Figure 1: Grade Distribution of Total Rare Earth Oxides from drilling results received to date from the Tiros Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_002full.jpg

Figure 2: Grade Distribution of NdPr Rare Earth from drilling results received to date from the Tiros Project (Note: The distribution percentages outlined)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_003full.jpg

Figure 3: Grade Distribution of Titanium Dioxide from drilling results received to date from the Tiros Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_004full.jpg

Resouro has focused drilling on the Tiros Centre (see figure 5) which covers 44 km² in the centre of the Tiros Project with its northern tenements (Tiros North) also producing excellent results. The Tiros Centre covers approximately 9.5% of the total 477 km² of the Tiros Project. The program includes Air- Core, Diamond and Auger drilling, all to provide data for a maiden Resource Estimation.

Resouro has now completed 257m over 25 auger holes, 1,562m over 30 Air-Core holes and, 1,634m over 26 Diamond holes, excluding historical drilling by Vincenza and Iluka with 950m over 20 holes of Air-Core drilling and 1 diamond drill hole at 82m by Vincenza. The assay results published in this release are the first of significant number of drill samples currently in the laboratory for assay.

The recent results from Tiros confirm the Company's technical analysis of the geology showing a high grade REE and Tio2 resource below overburden in the plateaus of the regional Capacete Formation indicating a relative homogeneous globally significant high grade ore body as indicated in figure 4 below.

Figure 4: a typical resource section of the Tiros Project across the plateaus of the Capacete Formation.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_005full.jpg

Figure 5: Tiros Tenements Location Map (left) and current drilling program hole locations on Tiros central (right)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_006full.jpg

Quality Assurance Quality Control
A QA/QC program is in place for every batch of samples sent to the laboratory including blanks, different types of standards, for REE and titanium, and also field duplicates. Further, a number of samples in each batch are later chosen for testing in a secondary laboratory and in the primary laboratory, as pulp or coarse duplicates.

Qualified Person ("QP")
The technical content of this news release has been reviewed and approved by Rodrigo Mello B.Sc. Geology, FAusIMM and a qualified person as defined by National Instrument 43-101. Mr Mello has reviewed and verified the drilling and assay data included in this announcement.

Important Notice
The Company refers to its release on SEDAR Plus on 17 August 2023 titled "Resouro Completes Historical Desktop Study Including Historical Resource at Tiros Rare Earths and Titanium Project in Brazil" (Release), which included disclosures regarding the Company's initial resource target and historical resource estimates.

The Company advises that the initial resource target and resource estimates table disclosed in the Release were not compliant with either the standards prescribed by National Instrument 43-101 - Standards of Disclosure for Mineral Projects or the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company retracts that information and advises that investors should not rely on the retracted information in assessing the Company's Tiros Rare Earths and Titanium Project or for any investment decision.

Figure 6 - Grade Profile from Selected Air-Core and Auger Holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_figure6resouro.jpg

Figure 7: Typical Diamond Drill Core from Tiros Showing Capacete Formation Clays

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_figure7resouro.jpg

Tiros Acquisition Update

Further to the Company's recent announcements regarding the acquisition of Tiros, the Company is pleased to advise that it is closing out the final states of the acquisition with one of the key requirements, being the approval of the issue of 4 million options to the Company's President & CEO, Chris Eager, approved by shareholders at the special meeting held earlier this week with the results summarised below. The remaining outstanding items relate to the submission of a NI 43-101 technical report in relation to the Tiros Project and a report on the Project's title and accompanying opinion to that effect. These matters will be rounded out in coming days and, subject to confirmation by the TSXV that the documents submitted are satisfactory, the Company will formally proceed to close the acquisition and issue the consideration equity.

Meeting Results

Further to the Company's news release dated December 22, 2023, on January 16, 2024, the shareholders of the Company were asked to approve, among other matters, a new stock option plan (the "Amended and Restated Option Plan") at a special meeting of the shareholders (the "Meeting").

At the Meeting, four resolutions were placed before the shareholders. The first of which was a resolution requiring ordinary and disinterested shareholder approval to amend the stock option plan, to, among other things, permit the Company to issue stock options exercisable for up to 14,193,752 common shares of the Company, being 20% of the issued and outstanding Common Shares as at the date of the management information circular in respect of the Meeting (the "First Resolution"). The second, a resolution requiring two separate disinterested shareholder approvals of the grant of 4,000,000 options with an exercise price of $0.20 per Common Share (the "Options") to Christopher Eager, President and Chief Executive Officer of the Company (the "Second Resolution"). The third, a resolution requiring disinterested shareholder approval of the issuance of additional options equal to up to 10% of the issued and outstanding common shares of the Company to Insiders of the Company, as such term is defined by the policies of the TSX Venture Exchange, within the 12 month period following the Meeting, in excess of the grant of the Options (the "Third Resolution"). The fourth, a resolution requiring disinterested shareholder approval of the issuance of additional options equal to up to 5% of the issued and outstanding common shares of the Company to Christopher Eager within the 12 month period, following the Meeting, in excess of the grant of the Options (the "Fourth Resolution").

A total of 25,305,276 Common Shares, or 99.99% of the votes cast at the Meeting by holders of Common Shares present or represented by proxy were cast in favour of the First Resolution with respect to the ordinary resolution approval required. 7,149,527 Common Shares, or 99.99% of the votes cast at the Meeting by holders of Common Shares present or represented by proxy were cast in favour of the First Resolution with respect to the disinterested approval required. Similarly, a total of 7,149,527 Common Shares, or 99.99% of the votes cast at the Meeting by holders of Common Shares present or represented by proxy were cast in favour of the Second Resolution, Third Resolution and Fourth Resolution with respect to each of the levels of disinterested approval required for each of the relevant resolutions.

Details of all matters voted upon at the Meeting are provided in the management information circular in respect of the Meeting, a copy of which is available on the Company's SEDAR+ profile.

About the Company

Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Project in Minas Gerais and the Novo Mundo Gold Project in Mato Grosso. The Tiros Project represents 25 mineral concessions totaling 477 km² located in the state of Minas Gerais, one of the most infrastructurally developed states of Brazil, 350 km from Belo Horizonte, the state capital.

This announcement has been authorised by Mr. Chis Eager, on behalf of the Board of Directors.

Chris Eager, President & CEO
RESOURO STRATEGIC METALS INC.

For further information, please contact the Company at:

+1 416 642-1807 (Principal Office - Toronto, Canada)

Chris Eager, CEO 
chris.eager@resouro.com

Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward- looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required, including obtaining conditional and final acceptance of the TSXV; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in the mining industry; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Selected High Grade Drilling Intervals to Date

HOLE-ID	Type	FROM	TO	Thickness	TREO ppm	NdPr ppm	TiO2%
ACTIR-02	AC	36	42	6	1,986	377	10.23
ACTIR-03	AC	44	48	4	3,082	393	13.01
ACTIR-04	AC	37	51	14	4,125	822	11.83
includes	AC	46	49	3	8,478	1,924	22.27
ACTIR-05	AC	36	47	11	2,530	409	11.71
ACTIR-08	AC	44	55	11	3,382	516	15.77
includes	AC	53	55	2	5,986	1,163	22.39
ACTIR-09	AC	13	28	15	4,873	1,027	17.00
includes	AC	16	25	9	6,728	1,489	21.62
ACTIR-10	AC	26	39	13	4,599	980	16.73
includes	AC	31	36	5	7,268	1,763	22.57
ACTIR-11	AC	11	53	42	4,116	866	16.47
includes	AC	13	22	9	6,014	1,162	20.20
ACTIR-12	AC	51	60	9	5,521	1,136	17.12
includes	AC	53	60	7	6,587	1,368	19.22
ACTIR-13	AC	29	36	7	2,865	659	8.78
ACTIR-14	AC	31	35	4	2,629	535	10.06
ACTIR-16	AC	30	51	21	3,334	726	11.23
includes	AC	38	41	3	5,948	1,277	21.39
ACTIR-18	AC	22	33	11	4,933	1,047	14.25
includes	AC	29	32	3	8,147	1,995	22.96
ACTIR-20	AC	13	27	14	5,495	1,220	15.19
includes	AC	21	25	4	10,421	2,567	22.43
ACTIR-21	AC	29	43	13	4,340	911	12.13
ACTIR-22	AC	23	58	32	4,120	996	10.35
ACTIR-23	AC	29	57	28	4,585	1,012	12.74
ACTIR-24	AC	34	78	44	5,739	1,356	15.44
includes	AC	43	53	10	10,703	2,491	22.95
FT-01	Auger	0	6	6	4,189	501	20.56
includes	Auger	1	6	5	4,184	488	21.30
FT-02	Auger	0	11	11	5,253	1,056	15.26
includes	Auger	8	11	3	6,671	1,979	17.62
FT-03	Auger	0	6	6	4,058	1,103	15.03
includes	Auger	2	4	2	4,712	1,156	19.96
FT-04	Auger	3	15	12	6,699	1,330	19.41
FT-05	Auger	2	9	7	3,455	774	10.92
FT-07	Auger	0	2	2	3,610	802	10.82

 

HOLE-ID	Type	FROM	TO	Thickness	TREO ppm	NdPr ppm	TiO2%
FT-09	Auger	3	11	8	5,768	1,085	16.03
includes	Auger	5	9	4	7,952	1,453	21.82
FT-10	Auger	7	10	3	3,143	250	8.76
FT-11	Auger	0	10.5	10.5	7,181	2,222	10.47
FT-14	Auger	12	15	3	662	105	9.37
FT-15	Auger	3	16	13	1,846	264	9.92
FT-16	Auger	0	13	13	1,546	209	7.20
FT-18	Auger	2	9	7	2,508	467	7.66
FT-19	Auger	0	11	11	4,131	1,010	8.78
FT-20	Auger	6	7	1	223	11	6.14
FT-21	Auger	0	2	2	1,882	145	4.65
FT-23	Auger	0	11	11	5,155	952	14.03
includes	Auger	7	11	4	9,087	1,940	21.47
FT-24	Auger	0	15	15	3,885	665	13.01
includes	Auger	10	13	3	6,498	1,394	18.74
FT-25	Auger	0	12	12	8,150	1,575	20.10
includes	Auger	2	12	10	8,710	1,760	21.50
PMC-FD-0074	Core	20.3	72.2	51.9	3,608	820	11.73
includes	Core	24.9	32.1	7.2	8,382	1,782	23.27

 

Tiros Air-Core Hole - AC-TIR-002
FROM	TO	TiO2%	TREOppm	NdPrOxide
36	37	10.05	817	165
37	38	7.41	1,502	299
38	39	10.07	2,148	410
39	40	10.22	1,711	313
40	41	11.03	2,469	445
41	42	12.61	3,271	628
Average Grade		10.23	1,986	377
Metres	6

 

Tiros Air-Core Hole - AC-TIR-003
FROM	TO	TiO2%	TREOppm	NdPrOxide
44	45	10.32	2,007	86
45	46	11.21	2,050	226
46	47	13.96	5,498	869
47	48	16.56	2,771	391
Average Grade		13.01	3,082	393
Metres	4

 

Tiros Air-Core Hole - AC-TIR-004
FROM	TO	TiO2%	TREOppm	NdPrOxide
37	38	10.54	2,073	220
38	39	6.98	1,881	122
39	40	9.81	2,119	290
40	41	11.68	1,730	199
41	42	6.40	1,697	248
42	43	7.31	2,434	471
43	44	8.45	2,625	655
44	45	7.73	2,330	544
45	46	10.49	7,880	1,103
46	47	25.00	10,380	2,082
47	48	18.67	6,810	1,886
48	49	23.14	8,243	1,804
49	50	11.64	4,714	1,312
50	51	7.78	2,831	566
Average Grade		11.83	4,125	822
Metres	14

 

Tiros Air-Core Hole - AC-TIR-005
FROM	TO	TiO2%	TREOppm	NdPrOxide
36	37	11.58	1,574	177
37	38	11.54	1,515	184
38	39	9.03	1,182	150
39	40	9.90	1,642	171
40	41	12.42	2,231	375
41	42	12.72	3,312	538
42	43	12.74	2,838	519
43	44	10.67	2,562	455
44	45	11.99	2,827	494
45	46	12.13	3,627	594
46	47	14.07	4,523	845
Average Grade		11.71	2,530	409
Metres	11

 

Tiros Air-Core Hole - AC-TIR-008
FROM	TO	TiO2%	TREOppm	NdPrOxide
44	45	6.43	725	59
45	46	9.65	1,134	101
46	47	11.25	1,592	182
47	48	24.29	4,927	954
48	49	10.74	2,720	408
49	50	18.38	3,740	450
50	51	19.28	4,220	319
51	52	15.19	2,630	310
52	53	13.54	3,545	570
53	54	25.00	7,178	1,490
54	55	19.77	4,794	837
Average Grade		15.77	3,382	516
Metres	11

 

Tiros Air-Core Hole - AC-TIR-009
FROM	TO	TiO2%	TREOppm	NdPrOxide
13	14	6.58	648	44
14	15	9.41	2,128	124
15	16	9.29	2,077	199
16	17	18.77	2,444	275
17	18	18.46	2,886	373
18	19	17.08	3,505	548
19	20	18.27	4,972	968
20	21	25.00	10,468	2,596
21	22	23.83	8,369	1,961
22	23	25.00	10,619	2,518
23	24	25.00	11,197	2,659
24	25	23.19	6,092	1,506
25	26	9.43	2,154	490
26	27	12.74	2,795	597
27	28	12.93	2,741	542
Average Grade		17.00	4,873	1,027
Metres	15

 

Tiros Air-Core Hole - AC-TIR-010
FROM	TO	TiO2%	TREOppm	NdPrOxide
26	27	14.31	2,103	73
27	28	15.93	2,404	146
28	29	16.53	3,941	602
29	30	15.72	2,942	380
30	31	14.89	3,517	404
31	32	19.90	5,210	1,051
32	33	25.00	6,680	1,834
33	34	19.81	5,297	1,442
34	35	23.16	10,000	2,294
35	36	25.00	9,154	2,192
36	37	12.02	3,551	836
37	38	5.11	1,560	443
38	39	10.15	3,427	1,040
Average Grade		16.73	4,599	980
Metres	13

 

	Tiros Air-Core Hole - AC-TIR-011
FROM	TO	TiO2%	TREOppm	NdPrOxide
11 12	12 13	16.66	2,354	371
		15.30	2,841	462
13	14	19.47	2,135	334
14	15	12.65	1,639	226
15	16	14.10	4,894	669
16	17	20.84	6,729	1,526
17	18	25.00	11,611	2,368
18	19	21.45	6,699	1,314
19	20	23.87	6,749	1,315
20	21	24.12	8,621	1,622
21	22	20.34	5,049	1,085
22	23	13.45	3,476	580
23	24	7.08	1,280	210
24	25	9.08	1,299	204
25	26	11.80	5,580	630
26	27	14.83	4,201	819
27	28	13.78	3,752	531
28	29	18.39	3,863	768
29	30	16.86	5,568	1,221
30	31	15.24	7,002	1,446
31	32	15.69	8,158	2,079
32	33	20.46	6,704	1,821
33	34	14.63	6,195	1,560
34	35	13.93	3,408	840
35	36	12.97	2,946	674
36	37	16.42	2,763	635
37	38	16.42	2,308	562
38	39	16.23	2,856	722
39	40	15.33	3,362	868
40	41	11.69	3,017	753
41	42	16.77	2,341	563
42	43	18.69	3,011	735
43	44	20.33	3,265	816
44	45	20.31	2,924	698
45	46	17.21	2,668	590
46	47	17.35	2,958	634
47	48	19.35	3,085	661
48	49	17.62	3,401	884
49	50	12.68	3,799	976
51	52	12.23	2,550	427
52	53	18.65	2,935	506
50	51	- 114 2- .65	2,863	676
Average Grade		16.47	4,116	866

 

Tiros Air-Core Hole - AC-TIR-012
FROM	TO	TiO2%	TREOppm	NdPrOxide
51	52	8.34	1,154	198
52	53	11.14	2,427	446
53	54	18.97	8,031	1,591
54	55	14.55	4,965	942
55	56	22.25	8,874	1,708
56	57	20.33	6,793	1,350
57	58	19.02	5,824	1,233
58	59	19.50	5,931	1,340
59	60	19.94	5,690	1,413
Average Grade		17.12	5,521	1,136
Metres	9

 

Tiros Air Core Hole - AC-TIR-0013
FROM	TO	TiO2%	TREOppm	NdPrOxide
29	30	8.08	2,891	678
30	31	8.30	3,483	787
31	32	9.19	3,088	710
32	33	9.52	3,072	699
33	34	9.40	2,585	590
34	35	8.56	2,573	604
35	36	8.39	2,362	543
Average Grade		8.78	2,865	659
Metres	7

 

Tiros Aircore Hole - AC-TIR-0014
FROM	TO	TiO2%	TREOppm	NdPrOxide
31	32	10.79	1,220	203
32	33	9.78	1,150	188
33	34	10.17	1,597	277
34	35	9.48	6,547	1,472
Average Grade		10.06	2,629	535
Metres	4

 

Tiros Aircore Hole - AC-TIR-0018
FROM	TO	TiO2%	TREOppm	NdPrOxide
22	23	7.78	1,635	356
23	24	8.33	2,111	458
24	25	8.39	2,509	417
25	26	10.58	3,145	504
26	27	12.88	4,676	577
27	28	11.68	4,621	790
28	29	12.00	5,154	820
29	30	25.00	9,530	2,148
30	31	23.49	8,070	1,968
31	32	20.39	6,842	1,870
32	33	16.24	5,970	1,604
34	35	9.59	2,931	698
35	36	6.99	2,520	622
36	37	7.10	4,275	630
37	38	7.49	2,517	686
38	39	10.84	4,127	1,083
39	40	10.40	4,604	1,247
40	41	8.93	3,977	1,100
41	42	6.42	2,818	788
Average Grade		11.82	4,317	967
Metres	20

 

Tiros Aire Core Hole - AC-TIR-0021
FROM	TO	TiO2%	TREOppm	NdPrOxide
29	30	8.18	842	142
30	31	7.05	845	147
31	32	12.90	5,296	835
32	33	18.93	5,424	907
33	34	14.50	4,539	765
34	35	17.64	7,817	1,631
35	36	11.19	3,565	658
36	37	10.28	3,911	804
37	38	14.50	3,822	870
38	39	8.39	4,429	1,005
40	41	10.58	3,767	920
41	42	13.92	6,728	1,739
42	43	9.61	5,440	1,425
Average Grade		12.13	4,340	911
Metres	14

 

Tiros Aircore Hole - AC-TIR-0022
FROM	TO	TiO2%	TREOppm	NdPrOxide
23	24	3.68	1,160	233
24	25	6.67	1,128	202
25	26	8.57	1,034	172
26	27	8.69	1,342	233
27	28	7.90	1,538	277
28	29	13.33	1,804	309
29	30	14.88	2,662	463
30	31	14.68	4,484	588
31	32	22.47	8,939	2,068
32	33	16.18	5,813	1,305
33	34	14.37	5,224	1,299
34	35	15.38	5,827	1,435
35	36	7.36	4,539	1,062
36	37	7.75	4,498	1,173
37	38	12.26	7,201	2,074
38	39	10.70	6,927	1,575
39	40	6.26	2,903	679
40	41	8.47	3,954	895
41	42	8.77	4,279	1,240
42	43	7.90	4,276	1,232
43	44	8.70	5,141	1,563
44	45	7.32	6,503	1,797
45	46	10.92	4,150	1,116
46	47	7.70	4,108	992
47	48	10.87	5,757	1,471
48	49	8.28	5,247	1,353
49	50	11.32	5,430	1,374
50	51	14.97	5,219	1,207
51	52	0.09	23	9
55	56	8.78	2,883	643
56	57	13.74	4,120	960
57	58	12.11	3,744	861
Average Grade		10.35	4,120	996
Metres	35

 

Tiros Airecore Hole - AC-TIR-0023
FROM	TO	TiO2%	TREOppm	NdPrOxide
29	30	8.80	1,174	269
30	31	14.81	1,436	264
31	32	15.89	3,314	639
32	33	13.11	3,805	741
33	34	14.38	3,045	550
34	35	14.15	4,681	701
35	36	16.93	6,936	1,453
36	37	25.00	12,309	2,303
37	38	25.00	10,789	2,343
38	39	22.96	7,432	1,613
39	40	9.89	3,646	845
40	41	9.21	3,697	912
41	42	10.44	5,000	1,430
42	43	9.91	3,559	1,099
43	44	13.40	5,337	1,252
44	45	7.75	4,956	1,288
45	46	8.66	5,124	1,161
46	47	10.66	5,059	1,166
47	48	8.73	3,680	809
48	49	9.88	4,060	899
49	50	11.43	3,891	884
50	51	10.61	4,144	891
51	52	9.57	3,725	799
52	53	14.14	4,710	1,111
53	54	8.43	2,951	690
54	55	9.98	3,178	754
55	56	10.21	3,052	710
56	57	12.85	3,691	771
Average Grade		12.74	4,585	1,012
Metres	28

 

Tiros Aircore Hole - AC-TIR-0020
FROM	TO	TiO2%	TREOppm	NdPrOxide
13	14	11.49	1,513	208
14	15	15.66	2,946	451
15	16	12.53	2,032	325
16	17	12.59	3,887	585
17	18	14.39	3,949	626
18	19	12.28	3,271	452
19	20	14.09	4,649	867
20	21	17.70	7,697	1,986
21	22	18.44	8,588	1,984
22	23	25.00	11,987	2,884
23	24	24.22	10,949	2,796
24	25	22.07	10,160	2,605
25	26	5.55	2,652	653
26	27	6.65	2,650	661
33	34	6.63	1,782	469
34	35	7.69	3,364	956
35	36	11.83	6,359	1,995
36	37	10.76	5,968	1,612
37	38	6.74	3,277	778
38	39	9.14	4,403	994
39	40	10.15	3,587	828
40	41	9.17	2,879	654
41	42	7.67	2,493	581
42	43	8.58	2,535	589
43	44	10.31	2,928	690
44	45	8.71	2,370	547
45	46	8.27	2,493	578
46	47	11.46	3,121	730
47	48	9.10	2,594	612
48	49	12.53	3,524	850
49	50	8.42	2,182	522
50	51	12.33	3,311	753
51	52	10.12	2,458	571
52	53	11.05	2,637	596
53	54	11.17	3,026	719
Average Grade		11.84	4,121	963
Metres	41

 

Tiros Air Core Hole - AC-TIR-0024
FROM	TO	TiO2%	TREOppm	NdPrOxide
40	41	8.71	4,417	974
41	42	12.88	1,889	397
42	43	13.87	3,502	742
43	44	21.76	5,666	1,210
44	45	17.75	9,267	2,137
45	46	25.00	7,817	1,637
46	47	25.00	10,173	2,427
47	48	25.00	15,152	3,626
48	49	25.00	17,775	4,368
49	50	25.00	16,960	3,960
50	51	22.76	9,088	2,058
51	52	18.65	6,764	1,532
52	53	23.57	8,365	1,951
53	54	12.49	4,472	996
54	55	9.43	3,240	726
55	56	12.49	2,901	707
56	57	17.33	4,131	1,044
57	58	9.11	3,054	729
58	59	14.83	4,366	994
59	60	16.31	4,708	1,127
60	61	15.03	5,386	1,131
61	62	17.81	5,600	1,224
62	63	12.58	4,210	911
63	64	9.16	3,663	829
64	65	13.08	6,030	1,487
65	66	13.03	4,846	1,231
66	67	13.65	5,866	1,319
67	68	14.96	7,281	1,815
68	69	13.06	5,583	1,487
69	70	16.59	5,678	1,468
70	71	14.49	5,475	1,489
71	72	19.83	5,704	1,437
72	73	19.19	5,286	1,290
73	74	16.52	5,268	1,319
74	75	18.78	5,769	1,446
75	76	23.30	6,343	1,548
76	77	24.83	7,055	1,685
77	78	20.36	6,082	1,470
Average Grade		17.19	6,443	1,524
Metres	38

 

			Tiros Auger Hole - FT-01
FROM	TO		TiO2%	TREOppm	NdPrOxide
0	1		16.86	4,215	566
1	2		19.83	4,673	570
2	3		20.70	4,208	486
3	4		20.09	4,422	501
4	5		20.89	3,931	470
5	6		25.00	3,686	416
Average Grade			20.56	4,189	501
Metres	6

 

		Tiros Auger Hole - FT-02
FROM	TO		TiO2%	TREOppm	NdPrOxide
0	1		12.64	5,617	544
1	2		15.91	4,960	580
2	3		14.01	4,597	632
3	4		14.28	4,623	508
4	5		15.96	4,293	745
5	6		14.39	4,648	777
6	7		14.10	4,415	924
7	8		13.77	4,615	972
8	9		18.05	4,713	1,016
9	10		16.78	5,017	1,175
10	11		18.02	10,283	3,745
Average Grade			15.26	5,253	1,056
Metres	11

 

		Tiros Auger Hole - FT-03
FROM	TO		TiO2%	TREOppm	NdPrOxide
0	1		15.04	3,251	811
1	2		17.80	6,675	2,153
2	3		21.43	4,645	1,051
3	4		18.48	4,779	1,261
4	5		10.67	2,999	805
5	6		6.78	1,997	539
Average Grade			15.03	4,058	1,103
Metres	6

 

		Tiros Auger Hole - FT-04
FROM	TO		TiO2%	TREOppm	NdPrOxide
3	4		6.84	1,220	83
4	5		15.43	3,125	383
5	6		18.20	3,476	372
6	7		19.83	3,581	445
7	8		14.17	3,818	507
8	9		25.00	10,070	2,203
9	10		22.13	9,796	1,833
10	11		24.51	9,711	2,322
11	12		25.00	8,991	1,930
12	13		25.00	10,161	2,471
13	14		25.00	10,166	2,424
14	15		11.84	6,272	992
Average Grade			19.41	6,699	1,330
Metres	12

 

		Tiros Auger Hole - FT-05
FROM	TO		TiO2%	TREOppm	NdPrOxide
2	3		13.98	4,547	895
3	4		11.30	3,972	954
4	5		10.56	4,326	1,008
5	6		8.95	2,640	612
6	7		11.98	3,140	717
7	8		10.28	2,732	627
8	9		9.41	2,827	606
Average Grade			10.92	3,455	774
Metres	7

 

		Tiros Auger Hole - FT-07
FROM	TO		TiO2%	TREOppm	NdPrOxide
0	1		12.22	4,065	907
1	2		9.42	3,155	697
Average Grade			10.82	3,610	802
Metres	2

 

		Tiros Auger Hole - FT-09
FROM	TO		TiO2%	TREOppm	NdPrOxide
3	4		7.08	1,932	263
4	5		12.82	4,244	524
5	6		18.35	4,943	690
6	7		25.00	10,397	1,972
7	8		23.01	10,340	1,687
8	9		20.90	6,127	1,466
9	10		11.11	3,606	874
10	11		9.97	4,552	1,204
Average Grade			16.03	5,768	1,085
Metres	8

 

		Tiros Auger Hole - FT-10
FROM	TO		TiO2%	TREOppm	NdPrOxide
7	8		7.26	2,374	145
8	9		9.84	2,275	280
9	10		9.18	4,779	324
Average Grade			8.76	3,143	250
Metres	3

 

		Tiros Auger Hole - FT-11
FROM	TO		TiO2%	TREOppm	NdPrOxide
0	1		16.69	5,234	934
1	2		9.90	5,035	1,211
2	3		10.43	5,652	1,573
3	4		10.93	7,709	3,173
4	5		10.68	6,651	2,183
5	6		10.38	6,548	1,956
6	7		10.73	7,846	1,933
7	8		8.70	9,536	3,380
8	9		8.73	9,026	2,937
9	10		10.40	9,068	3,108
10	10.5		7.59	6,682	2,051
Average Grade			10.47	7,181	2,222
Metres	10.5

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194740

FAQ

What is the update on activities at the Tiros Rare Earths and Titanium project in Brazil?

The recent assays reveal high-grade TREO, NdPr, and TiO2, indicating a globally significant REE and TiO2 project.

What is the significance of the assay results from the recent drilling campaign at Tiros?

The results demonstrate both the highest grades (TREO, NdPr, and TiO2) and thicknesses seen at the project to date.

What is the status of the acquisition of Tiros?

The company is closing out the final stages of the acquisition, with the approval of the issue of 4 million options to the Company's President & CEO, Chris Eager.

Were the initial resource target and historical resource estimates compliant with standards?

The initial resource target and resource estimates table disclosed in the previous release were not compliant with standards.

What were the results of the special meeting held by the shareholders?

The shareholders approved the issuance of 4 million options to the Company's President & CEO, Chris Eager, among other matters.