Resouro Strategic Metals, a recent entrant into Brazil’s rare earths sector, has unveiled a significant resource estimate for its Tiros project located in Minas Gerais. The newly published estimate reveals nearly two billion tonnes of resource, with a grade of 3,900 parts per million (ppm) total rare earth oxides (TREO), including 1,100 ppm magnet rare earth oxides (MREO) and 12% titanium dioxide (TiO₂).
The estimate highlights a high-grade segment within the resource: 120 million tonnes at 9,000 ppm TREO, containing 2,400 ppm MREO and 23% TiO₂. The measured and indicated portions of the resource total one billion tonnes at 4,050 ppm TREO, with 1,120 ppm MREO and 12% TiO₂.
Resouro’s Tiros project is now recognized as one of the largest undeveloped titanium and rare earth resources globally. Chris Eager, CEO of Resouro, remarked, “The average resource grades of 3,900 ppm TREO, 1,100 ppm MREO, and 12% TiO₂ are notably high for this type of deposit. We have delineated a substantial resource within just 7% of the project’s land area.”
At this stage, the company plans to concentrate on infill drilling to enhance mine planning and conduct feasibility studies. Resouro aims to complete a preliminary economic assessment (PEA) of the Tiros project by year-end.
Through its Brazilian subsidiary, Resouro holds a 90% interest in the Tiros project, with the remaining 10% held by RBM Consultoria Mineral Eireli, an independent third party.
Following the announcement, Resouro’s stock experienced a notable increase, closing 13.4% higher in Sydney at A$0.55 per share and rising 11.3% in Toronto to C$0.45 per share. This uptick has elevated the company’s market capitalization to C$41.09 million (approximately $30 million).
