Canamera Energy Metals, a Canada-based exploration company, has completed approximately one-third of the planned holes in its inaugural Turvolandia rare earths drill programme in Brazil.
Launched in mid-November, phase one of the Turvolandia rare earths drill programme includes around 1,000m of drilling.
It encompasses 48–54 vertical auger drill-holes across three separate target zones, with 16–18 holes in each, to be drilled to depths of 20–25m to evaluate the thickness and continuity of rare earth element (REE) mineralisation.
The company said that the results will define the geometry, distribution and continuity of the mineralisation, guiding future exploration.
The Turvolandia project lies directly east of the Poços de Caldas alkaline complex, a 30km² intrusive system in southern Minas Gerais.
Located in the south-west of Minas Gerais, around 200km north-east of São Paulo and 294km south-west of Belo Horizonte, the property is regarded as prospective for ionic clay-hosted REE mineralisation.
Canamera has an option to acquire 100% ownership of the Turvolândia and São Sepé rare earth ionic clay projects by making staged cash and share payments to the vendors, while also funding minimum exploration work during the option period.
If the option is exercised, the vendors will hold a 1% net smelter returns (NSR) royalty on project production, and Canamera may buy back half (0.5%) for a cash payment of $500,000 ($688,485).
Further cash payments will be triggered upon meeting specified technical milestones, including the release of a mineral resource estimate, a preliminary economic assessment and a feasibility study.
Canamera CEO Brad Brodeur said: "This drill programme marks a significant milestone in advancing the Turvolandia REE project. With global rare earth supply chains under increasing geopolitical pressure, Brazil represents a jurisdictionally secure source of these critical elements. We are excited to systematically test the three priority target areas as we work towards further understanding the project's geological profile."
