Axel REE targets Caladão field testing
- Axel REE outlined a technical pathway to begin in situ recovery field testing at the Woolrich deposit.
- The company's share price traded down 6.25% at $0.060 following the update.
- Field trials aim to evaluate in-ground leaching performance, operating parameters, and hydraulic response at scale.
Axel REE (ASX:AXL) has outlined a technical roadmap to execute first-in-situ recovery field tests at its Caladão rare earth elements project in Minas Gerais, Brazil.
The project features a mineral resource estimate of 708.6 million tonnes containing 1,443 parts per million total rare earth oxide, including an indicated 110.08 million tonnes at Woolrich.
Woolrich was chosen as the initial target after laboratory column tests delivered up to 560 parts per million soluble rare earth oxides with 39% magnet oxides.
The planned trial will evaluate 12 potential wellfields across a 2,000-hectare area to determine if column results can be safely replicated in the ground.
Following the announcement, the Axel REE share price was down at $0.060.
The company stated that its conceptual extraction process uses magnesium sulphate solutions to extract rare earths without conventional open-pit mining or crushing.
Axel REE is also evaluating a separate gallium resource containing 575.68 million tonnes at 37.05 parts per million alongside regional exploration across its 232-square-kilometre Caldas Project.
