Alderan Resources Limited (ASX: AL8) has made an exciting discovery in its Itaipe lithium project in Minas Gerais, Brazil. Stream sediment samples from the area have shown high concentrations of neodymium, praseodymium, rare earth elements (REE), and lithium. This development marks a significant milestone for Alderan, with three out of seven lithium exploration areas showing promising anomalies that warrant further investigation.
Key Highlights:
- Highly anomalous rare earth element and lithium stream sediment assays in the Itaipe area
- Alderan now boasts three project areas in Brazil with significant rare earth element and lithium anomalies
- Neodymium and praseodymium rare earth assays at Itaipe grade up to 72ppm and 23ppm respectively
- Strong correlations between different rare earth elements at Itaipe indicate a favorable geological setting for these minerals
- Next steps in Q3 2024 include detailed sampling and exploration in Itaipe, Carai, and Itambacuri
The Itaipe stream sediment samples have revealed remarkable levels of neodymium and praseodymium, with concentrations reaching up to 72.1ppm and 22.8ppm, respectively. These values are significantly higher than the background grades in the area, indicating a rich potential for rare earth element extraction. Additionally, the lithium content in the samples is also noteworthy, with grades up to 87.5ppm in certain locations.
Alderan’s Managing Director, Scott Caithness, expressed excitement over the findings, stating that the company now has three promising project areas in Brazil. The strong correlations observed between different elements further reinforce the positive geological conditions for mineralization.
Background on Rare Earth Elements:
Rare earth elements (REE) are a group of seventeen metallic elements crucial for high-tech consumer products and defense technologies. The most valuable REEs include neodymium, praseodymium, dysprosium, and terbium, which find applications in various electronic devices and defense systems.
Global production of rare earth elements in 2023 totaled 350,000t, with China leading the way followed by the USA and Burma. Brazil’s production, though modest in 2023, is expected to rise significantly in the coming years due to emerging projects. Projects utilizing ion-adsorption clay technology offer a cost-effective way to extract rare earth elements, making them an attractive option for mining companies.
Alderan’s discoveries in the Itaipe lithium project underscore the growing demand for rare earth elements in the high-tech and defense sectors. The next phase of exploration in Brazil promises exciting prospects for Alderan and reaffirms the company’s commitment to sustainable mineral extraction practices.
In conclusion, Alderan’s recent findings in the Itaipe project are a testament to the company’s exploration capabilities and the rich mineral potential of Brazil. As the demand for rare earth elements continues to rise, Alderan’s strategic initiatives position them well for success in the global market. Stay tuned for further updates on Alderan’s exploration endeavors and the evolving landscape of rare earth element mining.
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