Equinox Resources announces significant rare earth discovery

Equinox Resources Limited (ASX: $EQN) has announced a significant rare earth element (REE) discovery at its 'Mata da Corda' Rare Earth Project in Brazil. The company unveiled exceptionally high-grade surface sample results, with initial assay results from surface clay and channel clay samples returning REE grades exceeding 10km2 at the project area. The discovery marks a new frontier for Equinox Resources and presents a promising opportunity for the company to fast-track and prioritize drilling programs at Mata da Corda.

Executive commentary on the rare earth discovery

Equinox Resources CEO, Zac Komur, expressed excitement about the groundbreaking discovery at the Mata da Corda project, highlighting the exceptional potential of the site and the company's mission to identify significant, district-scale opportunities. Komur emphasized the team's rapid progress in drilling preparations and securing necessary authorizations, reflecting the company's capability to navigate challenges swiftly and effectively. He also underscored Equinox Resources' dedication to de-risking and advancing projects through active community engagement and strategic partnerships.

Summary of the rare earth discovery and outlook

Equinox Resources has unveiled a significant rare earth discovery at the Mata da Corda Rare Earth Project in Brazil, with exceptionally high-grade surface sample results exceeding 10km2 at the project area. The discovery presents a new frontier for hosting an exceptionally high-grade and large Ionic Adsorption Clay (IAC) deposit, marking a promising opportunity for the company. The company's near-term exploration priorities include a concentrated surface saprolite exploration campaign to identify high-grade drill targets and the commencement of drilling at Mata da Corda prospect in the third quarter of CY24. The project's strategic logistical advantages, robust infrastructure, and skilled local workforce further enhance its potential. Equinox Resources aims to unlock the full potential of Mata da Corda and revolutionize the industry with its unparalleled surface REE grades.