Aclara grows Carina Module rare earth resource in Brazil

Aclara Resources (TSX: ARA) has boosted the total tonnage at its Carina Module rare earth project in Brazil by 77%, the company said Friday.  

The project in Goiás state now holds 298 million inferred tonnes grading 1,452 parts per million (ppm) total rare earth oxides (TREO). That’s up from 168 million tonnes at a slightly higher grade, 1,510 ppm TREO, from last December.  

Aclara also reported a 60% increase in contained magnetic elements, with heavy rare earths, including dysprosium and terbium, rising to 13,470 tonnes from 8,240 tonnes. Contained light rare earths, such as neodymium and praseodymium are up by 70%, growing to 84,565 tonnes from 49,832 tonnes. 

“We are very pleased to be significantly expanding our capacity as a key supplier of magnetic rare earths, particularly dysprosium, which is an essential component in addressing climate change,” Aclara COO Barry Murphy said in the release.  

The update comes almost seven months after Aclara filed a positive preliminary economic assessment (PEA) for Carina Module, located in the same state as Serra Verde’s producing Pela Ema project. Pela Ema and MP Materials’ (NYSE: MP) Mountain Pass mine in California are the only producers in the Americas of rare earths, crucial in the production of cellular phones, computers and magnets used in green energy technologies and electric vehicles.  

The resource was calculated  based on a net smelter return (NSR) cut-off of US$7.40 per tonne, giving the resource an NSR value of US$28.42 per tonne.  
 
The update incorporates 4,104 metres of drilling across 363 holes and 3,789 samples.  

Aclara has also secured two new mining rights adjacent to its existing Carina Module mineral rights, setting the stage for future exploration and optimization. 

An additional 15,200-metre reverse circulation drill campaign aimed at converting inferred resources to measured and indicated is expected to be finished by the the fourth quarter. 

A pre-feasibility study for Carina Module is anticipated for the second half of next year, to be a followed by feasibility study in 2026.

Chile project

In Chile, Aclara’s Penco Module remains one of South America’s most advanced rare earth projects, with a resource of 27.5 million measured and indicated tonnes and 1.7 million inferred tonnes. 

Aclara plans to use circular mineral harvesting techniques, a process that eliminates the need for blasting, crushing or milling, thus avoiding tailings and the need for a tailings storage facility. It also plans to minimize water use through high water recirculation and to employ ammonium sulphate for leaching. 

Aclara’s shares were flat on Friday at 50¢ apiece, valuing the company at $83 million. Its shares traded between 36¢ and 65¢ over the past year. The company has 166.41 million shares outstanding.