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Magnum Mining and Exploration Limited ( (AU:MGU) ) has provided an announcement.
Magnum Mining & Exploration Limited has announced the commencement of its auger drilling program on the Azimuth 125 REE Project in Brazil, set to begin in October. The project includes 72 tenements covering approximately 1,201 square kilometers across Minas Gerais and Goiás, areas recognized for their potential in hosting world-class ionic clay REE deposits. The initial phase will target 19 high-priority REE areas identified based on radiometric anomalies and geological features, with the aim of assessing potential ionic clay REE mineralization. This exploration effort represents a significant step for Magnum in leveraging its 100% control over the Azimuth 125 trend, potentially enhancing its position in the rare earth elements market.
More about Magnum Mining and Exploration Limited
Magnum Mining & Exploration Limited is a company operating in the mining industry, focusing on the exploration and development of rare earth elements (REE). The company is particularly involved in projects located in Brazil, where it holds significant tenements in regions known for hosting ionic clay and hard rock REE deposits.
Average Trading Volume: 17,556,610
Technical Sentiment Signal: Sell
Current Market Cap: A$20.86M
For detailed information about MGU stock, go to TipRanks’ Stock Analysis page.