Rare earth and gallium resource updates reported in Brazil

Axel REE Limited has announced a significant upgrade to the Mineral Resource Estimate (MRE) for its Caladão Rare Earth Element (REE) – Gallium Project in Minas Gerais, Brazil. Following drilling results at the Woolrich deposit, the Woolrich MRE has more than doubled to 264.6 million tonnes at 1,101 ppm Total Rare Earth Oxide (TREO) and 34.7 ppm Gallium. The total Caladão Global MRE has increased by 24% to 708.6 million tonnes at 1,443 ppm TREO, while the Gallium MRE rose by 31% to 575.7 million tonnes.

Separately, Rare Earths Americas reported initial drill results from its 100%-owned Homer project in Brazil’s Goiás Alkaline province. Drilling has indicated widespread, near-surface mineralization with heavy rare earth enrichment. The company reported multiple drill intercepts grading over 2,000 ppm TREO and noted elevated concentrations of heavy rare earth oxides, including neodymium-praseodymium and dysprosium-terbium, which are critical for permanent magnets and defense applications.