Magnum Mining and Exploration (ASX:MGU) mobilised a large-scale drilling offensive at its wholly-owned Azimuth Project, marking a pivotal shift towards Tier-1 resource definition.
Following the confirmed discovery of high-grade ionic adsorption clay mineralisation at the Piracanjuba prospect, the company has deployed five auger drill rigs to execute a systematic 10,000-metre programme across 830 holes.
The campaign is structured to unlock the value of an expansive 85km² geophysical footprint.
Operational strategy involves a dual-grid approach: a broad 1,000m x 1,000m grid to test lateral continuity and a tightened 200m x 200m grid focused on known high-grade intercepts.
The data will underpin a projected exploration target by September, followed by a maiden JORC-compliant mineral resource estimate in November.
Recent metallurgical testing has significantly de-risked the project, revealing exceptional desorption recoveries of up to 75% TREO and 94% MREO.
The figures suggest that high-value strategic elements can be extracted under mild leaching conditions, a hallmark of low-cost IAC deposits.
Early assays have already yielded grades as high as 3,971ppm TREO.
Chairman Michael Davy highlighted Brazil’s growing importance in the global critical minerals supply chain, noting that the scale of the Piracanjuba anomaly supports the potential for a world-class system.
Located just 50km from the major Catalão niobium mine, the Azimuth Project is ideally positioned within a premier mining jurisdiction, with a steady flow of results expected throughout the year.
At the time of reporting, Magnum Mining and Exploration's share price was $0.0070.