Resouro boosts titanium resource by 37% at Tiros project in Brazil  

Resouro Strategic Metals (ASX: RAU; TSX-V: RSM; FSE: 8TX) announced Wednesday an update to the Tiros titanium and rare earth elements mineral resource estimate (MRE) for the central project block of its Tiros project in Brazil.  

Measured and indicated resources increased by almost 37% to 1.4 billion tonnes, with measured resources 367 Mt at 12% TiO? and 4,100 ppm total rare earth oxides (TREO), and indicated resources 1,000 Mt at 12% TiO? and 4,000 ppm TREO.  

Total resources are now 1,400 Mt1 at 12% TiO? and 4,000 ppm TREO, the company said.

The measured and indicated resource contained metals content includes 165 Mt of contained titanium dioxide (TiO?), 5.5 Mt of contained TREO at a magnet rare earths oxide (MREO) ratio of 27%, which includes 1.5 million tonnes contained MREO 

This MRE update marks a significant milestone, the company said, adding that it establishes the Tiros project as home to one of the world’s largest and most significant resources of both titanium dioxide and rare earths.  

It also highlights a very high-grade mineralisation zone, Resouro said, which will be the focus of the company’s initial scoping study and subsequent feasibility studies, along with the related economic assessments. 

“The Tiros project continues to deliver amazing results, in terms of large tonnage of high TiO2 and TREO grades within continuous near surface layer of friable material with constant grade and thickness, Resouro executive chairman Chris Eager said in a news release.  

“The next step is to work toward a proven and probable minable reserves from the 1.4 billion tonnes measured and indicated resource,” Eager said.  

“The flat lying layer of friable material at Tiros translates to ease of mine planning with no drilling or blasting and a low stripping ratio. This facilitates environmentally friendly cut and fill mining with continuous rehabilitation equating to low mining costs with consistent supply of tonnes and grade to a processing plant.”  

By market close in Toronto, Resouro Strategic Metal’s stock was down 5%. The company has a C$17.6 million ($12.4m) market capitalization.