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Australian Mines (ASX: $AUZ) identifies second rare earth exploration target

Australian Mines (ASX: $AUZ) identifies new rare earth exploration target


Australian Mines Limited (ASX: $AUZ) has announced the identification of a second exploration target prospective for Niobium and Rare Earths at the Jequie Rare Earth Project in Bahia, Brazil. The target includes an airborne radiometric thorium anomaly, identified soils and clays in close proximity to outcropping Leucogranites, and positive readings for potential REE-bearing minerals in outcrop.

Executive Commentary on New Exploration Target


AUZ's CEO, Andrew Nesbitt, expressed satisfaction with the identification of the second rare earth exploration target, highlighting the geological setting's potential to host significant Rare Earth Element mineralisation. He also mentioned the anticipation for the next phase of exploration.

Summary of Australian Mines' Announcement


Australian Mines (ASX: $AUZ) has identified a new exploration target prospective for Niobium and Rare Earths at the Jequie Rare Earth Project in Brazil. The company's CEO, Andrew Nesbitt, expressed satisfaction with the identification, emphasizing the potential for significant Rare Earth Element mineralisation. The next phase of exploration will involve surface soil and outcrop rock-chip sampling to prioritize the target to a drill ready status. The company also provided insights into its Resende Lithium Project in Minas Gerais, Brazil, and outlined the geological and government-friendly jurisdiction of the Jequie Rare Earth Project, which is expected to benefit from complementary infrastructure and large-scale mining operations in the vicinity.

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