Brazil's Carina rare earth mine resource grows 77 per cent

Aclara Resources Inc. announced a resource update for its Carina ion adsorption rare earth project in Goiás State, Brazil.

The updated inferred ore resource of 298 million tonnes represents a 77% increase from the 168 million tonnes reported in

 the December 2023 report.

The content of rare earth oxides in magnets increased by 69 per cent, with the content of heavy rare earth oxides

 (dysprosium and terbium) increasing from 8,240 tonnes to 13,470 tonnes; and the content of light rare earth oxides

 (praseodymium and neodymium) increasing from 49,832 tonnes to 84,565 tonnes. These elements are important in 

the manufacture of permanent magnets for electric vehicles and wind turbines.

The results of smelting recovery experiments at the Carina rare earths project have demonstrated the technical feasibility

 of the company's pilot plant in Chile, which aims to reduce costs and environmental impact.

The deposit is shallow, with a stripping ratio of 0.2 and low mining costs.

 Through a tender process conducted by the Brazilian Mining Authority (Agencia Nacional de Mineração, ANM), 

the Company has acquired two mining rights around the Carina project, expanding its operating space.

In September, the company will complete a new preliminary economic evaluation.

The pre-feasibility evaluation will continue to progress.

During the fourth quarter, the Company will complete 15,200 metres of Phase II reverse circulation drilling to upgrade 

the inferred resources to Measured and Indicated.