Axel REE maps Caladão Rare Earths Project development
- Axel REE mapped out a development strategy using in situ recovery at its Caladão Project in Brazil.
- The company's shares rose 5% following the announcement of the laboratory milestone.
- The development model aims to lower upfront capital requirements by avoiding conventional open-pit mining.
Critical minerals explorer Axel REE (ASX:AXL) has executed a multi-stage development plan to apply in-situ recovery technology at its Caladão Rare Earths and Gallium Project in Minas Gerais, Brazil.
The technical development follows laboratory column testing at the Woolrich deposit that recovered up to 560 parts per million soluble total rare earth oxides.
No executive commentary was included in the project update.
The conceptual flowsheet requires further field trials across 12 wellfield areas within a 2,000-hectare mineralised footprint before its economic performance can be established.
The company stated that the extraction strategy is expected to support a modular hub-and-spoke development model to scale production capacity incrementally.
Following the announcement, the Axel REE share price was up at $0.086.
The broader Caladão asset hosts an inferred resource of 572 million tonnes at 1,502 parts per million total rare earth oxides and 439 million tonnes at 38 parts per million gallium.
The mineral exploration firm holds interests in four distinct project areas across South America, including the Calas, Itiquira, and Corrente systems alongside its flagship Caladão assets.
