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OAR Resources Ltd ( (AU:CR3) ) has shared an announcement.
Core Energy Minerals has reported initial auger drilling results at its 100% owned Itambe rare earths project in Bahia, Brazil, confirming strong exploration potential in existing soil anomalies despite drilling challenges from near-surface quartz rubble. Early assays from fine-fraction samples returned up to 5.6m at 1,429ppm TREO and 2.0m at 1,546ppm TREO, with particle size analysis indicating rare earths are concentrated in fine clay, delivering grades up to 380% higher than bulk samples.
The company has now mobilised its auger team to the Tunas project for infill drilling, following earlier strong REE intercepts in saprolitic clays, while first-pass reconnaissance at the new Campo Largo project has identified deeply weathered clay profiles supportive of REE prospectivity. This systematic, rotating field program is designed to maximise exploration efficiency and could strengthen Core Energy’s position in Brazil’s emerging clay-hosted rare earths sector by advancing multiple targets toward more detailed drilling and metallurgical testwork.
More about OAR Resources Ltd
Core Energy Minerals Limited is an ASX-listed resources company focused on rare earth element exploration in Brazil, with projects including Itambe, Tunas and Campo Largo. The company targets clay-hosted rare earth mineralisation in Tier 1 mining jurisdictions such as Bahia and Parana states, leveraging an on-ground geological team and a staged, results-based exploration strategy across its tenement portfolio.
Average Trading Volume: 902,464
Technical Sentiment Signal: Sell
Current Market Cap: A$6.42M
For an in-depth examination of CR3 stock, go to TipRanks’ Overview page.