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An update from Axel REE Ltd. ( (AU:AXL) ) is now available.
Axel REE Limited reported a major expansion of resources at its Caladão REE-Gallium Project, delivering a maiden mineral resource for Area B of 339 million tonnes at 1,075ppm TREO and 36.6ppm gallium, which lifts the combined Area A and B resource to 572 million tonnes at 1,506ppm TREO and 439 million tonnes at 38ppm gallium, marking increases of 145% in REE and 339% in gallium and positioning Caladão as a district-scale ionic clay rare earth project and one of the world’s largest primary gallium deposits. Breakthrough metallurgical test work at the Woolrich in-situ leach target confirmed strong amenability to low-cost ISL extraction using magnesium sulphate leaching with grades comparable to operating Malaysian ISL clay REE operations, while newly granted exploration licences, an immediate 49-hole auger program at Caladão, and successful drilling at the Caldas Project reinforced the company’s growth pipeline; combined with a $7.1 million cash balance and board refresh, these developments strengthen Axel’s operational footing and potential strategic appeal in the global REE and gallium supply chain.
More about Axel REE Ltd.
Axel REE Limited is an Australia-based mineral exploration company focused on rare earth element (REE) and gallium projects, primarily in ionic clay and laterite-hosted deposits. The company’s flagship assets include the Caladão REE-Gallium Project in Brazil’s so-called Lithium Valley district and the Caldas Project in the Poços de Caldas alkaline complex, targeting district-scale REE resources geared toward the energy transition and high-tech supply chains.
Average Trading Volume: 394,795
Technical Sentiment Signal: Strong Buy
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