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OAR Resources Ltd ( (AU:CR3) ) has shared an announcement.
Core Energy Minerals has entered a binding agreement to acquire 100% of the Itambe Rare Earth Element Project in Bahia, Brazil, from Rio Tinto, securing a 31,673-hectare, district-scale landholding in the highly prospective Rocha da Rocha Rare Earth Province, an area hosting world-class hard rock and ionic REE projects. The quarter also saw strong early exploration results at the company’s Tunas Project, with high-grade TREO assays from both soil sampling and wide-spaced hand-auger drilling, expansion of Tunas tenure to capture additional radiometric anomalies, and completion of a $2.75 million capital raising that, alongside the divestment of non-core assets, leaves Core Energy funded to accelerate systematic exploration and advance its Brazilian rare earth growth strategy.
More about OAR Resources Ltd
Core Energy Minerals Limited is an ASX-listed exploration company focused on rare earth element (REE) projects in Brazil, operating in key mineral provinces such as Bahia State. The company targets both hard rock and ionic clay-style rare earth deposits, leveraging an established in-country geological team and experience in Brazilian critical minerals jurisdictions to build a portfolio of district-scale REE assets.
YTD Price Performance: 30.0%
Average Trading Volume: 1,403,964
Technical Sentiment Signal: Sell
Current Market Cap: A$5.38M
See more data about CR3 stock on TipRanks’ Stock Analysis page.