In March 2010, we submitted exploration claims to ANM (the Brazilian Mining Agency) covering 23 areas between the states of Goiás and Tocantins with the objective of better understanding the geological potential of the area. Since then, the Serra Verde team has conducted extensive exploration on the property, with work to date consisting of airborne magnetic and gamma-ray spectrometry, geological mapping, surface sampling, extensive auger drilling, and a diamond drilling program.
The initial scope of exploration concentrated on the Pela Ema deposit, successfully defining a project mineral resource, and supporting a detailed understanding of the project’s geology and distribution of mineralization.
Exploration activity since mid-2012 has concentrated on expanding the resource potential of the greater Pela Ema target and obtaining a more detailed understanding of the geology of the area and the distribution of the mineralization. This work has primarily focused on new drilling in the Areias, Corrego Fundo Norte and Capão Grande grids, as well as diamond core drilling to obtain additional data on the nature of the parental granites.
In total, exploration work to date has included 11,090 auger, diamond drill and reverse circulation drill holes, amounting to ~57,600m of drilling within the Pela Ema area.
GEOLOGICAL CONTEXT AND MINERALIZATION
Serra Verde is one of the largest ionic clay deposits outside of China. The Serra Verde REEs occur in thick weathered saprolites containing REE bearing clays, which developed from leaching of the underlying Serra Dourada granite, which is the largest intrusion of the Goiás Tin Province. The intrusion is approximately 64 km long in the north south direction and varies between 3.5 and 12 km wide (mean 7.5 km) in the east west direction.
Airborne geophysical survey identified exploration areas in addition to regional geological mapping
Start of exploration program
Preliminary Economic Assessment carried out
Pre-Feasibility Study completed
Development of Agitated Leaching Process
Grant of Preliminary License
Project execution begins
Installation License granted
H1 - Completion of Definitive Feasibility Study
H1 - Began access road construction
H2 - Completed Order of Magnitudes Study on secondary REE deposit
Powering of the transmission line
H1 - Received final construction permits and lifetime mining concession
H1 -Secured land lead time equipment
H2 - Detailed engineering substantially complete
H2- Commenced construction