Magnum's strategic REE project assessment

Magnum Mining & Exploration (ASX:MGU) has completed an assessment of its Azimuth Rare Earth Element (REE) Project in Brazil. Covering 1,201 square kilometers, the project includes 72 exploration permits. Located on the Azimuth 125° Lineament, it targets REE deposits with 21 potential exploration targets identified. The company plans further geochemical assessments.

Comprehensive assessment and strategic outlook

Magnum Mining & Exploration has strategically assessed its newly acquired Azimuth REE Project in Brazil, identifying 21 exploration targets. The project spans a substantial area along the Azimuth 125° Lineament, known for potential REE deposits. Magnum plans a thorough geochemical assessment to explore these targets further, underscoring its commitment to advancing its exploration activities. The company aims to leverage this project's potential, which aligns with its strategy to enhance its portfolio and meet the growing demand for REEs globally.

Executive insights on Azimuth REE Project

The Azimuth REE Project is a significant addition to our portfolio, given its strategic location and geological potential. Our initial assessment has identified multiple targets, and we are eager to proceed with geochemical exploration to unlock its value.