High-Grade Assay Results up to 26% TiO2 and 18,887ppm TREO at Tiros North Block Support Next Steps Toward Scoping Study
ASX: RAU TSXV: RSM OTCQB: RSGOF TSXV Release ASX Release 21 April 2025 22 April 2025
High-Grade Assay Results up to 26% TiO2 and 18,887ppm TREO at Tiros North Block Support Next Steps Toward Scoping Study
Resouro Strategic Metals Inc. (ASX: RAU; TSX-V: RSM; FSE: 8TX; OTCQB: RSGOF) ("Resouro" or the "Company") is pleased to announce the assay results from 21 auger drill hole for 206 m of drilling, undertaken at the North block of the Tiros Titanium and Rare Earth Elements (“REE”) Project in Minas Gerais, Brazil (“Tiros Project” or “Tiros” or “Project”).
Highlights
1m at 22% TiO2 and 18,827ppm TREO from 8m in auger hole FT-32
1m at 25.6% TiO2 and 12,138ppm TREO from 19m in auger hole FT-28
High-grade results close to surface include:
- 7m at 23.4 TiO2% and 8,149ppm TREO from 5m depth in auger hole FT29
- 4m at 20.8 TiO2% and 14,229ppm TREO from 6m depth in auger hole FT32
- 4m at 18.9 TiO2% and 11,059ppm TREO from 5m depth in auger hole FT42
The recent update of the MRE for the Central Block MRE of 1.4 Billion tonnes of Measured and Indicated Resource contains 165 Mt of titanium dioxide (TiO₂), and 5.5 Mt of Total Rare Earths Oxide (TREO) at a Magnet Rare Earths Oxide (“MREO”) ratio of 27% and is one of the largest mineral deposits globally. An additional resource of 500 million tonne of Inferred Resource contains 60 million tonnes of TiO2 and 1.85 million tonnes of TREO.
The current assay results add to the massive resource potential of the Tiros Project area.
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NORTH BLOCK ASSAY RESULTS
Results are related to the current auger drilling campaign, designed to evaluate the areas outside the Tiros Central block. The North block was initially chosen because earlier results from auger drilling showed a high-grade zone close to the surface. Assay results exclude additional 18 auger holes for 180m of drilling, from the same North block, with results pending at ALS laboratory, at Vespasiano, Minas Gerais.
All assay intervals (Table 1) are determined using cut-off grades of 1,000ppm for TREO and 6% for TiO2 while the high-grade zone is defined using a cut-off grade of 6,000ppm for TREO and/or 16% for TiO2. These results from the Northern Permit of the Tiros North Block confirm high-grade mineralisation is continuous and is either exposed at surface or covered by a thin layer of overburden.
| Hole ID _ | Type | From | To | TiO % 2 | TREO | NdPr ppm | ||
|---|---|---|---|---|---|---|---|---|
| ppm | ||||||||
| FT-26 | Auger | 10.00 | 12.00 | 10.63 | 2,170 | 337 | ||
| FT-27 | Auger | 0.00 | 10.70 | 10.76 | 4,694 | 1,520 | ||
| FT-28 | Auger | 9.00 | 20.00 | 16.97 | 8,322 | 1,644 | ||
| Includes | Auger | 14.00 | 20.00 | 2,441 | ||||
| 22.08 | 11,793 | |||||||
| Also includes | Auger | 19.00 | 20,00 | 25.6 | 12,138 | 2,370 | ||
| FT-29 | Auger | 1.00 | 12.00 | 19.28 | 6,669 | 1,218 | ||
| Includes | Auger | 5.00 | 12.00 | 1,677 | ||||
| 23.41 | 8,149 | |||||||
| FT-30 | Auger | 4.00 | 12.00 | 13.34 | 5,606 | 732 | ||
| Includes | Auger | 10.00 | 12.00 | 1,915 | ||||
| 18.58 | 10,063 | |||||||
| FT-31 | Auger | 2.00 | 13.00 | 15.24 | 3,720 | 646 | ||
| Includes | Auger | 5.00 | 9.00 | 558 | ||||
| 17.71 | 4,070 | |||||||
| FT-32 | Auger | 0.00 | 11.65 | 15.35 | 7,178 | 1,325 | ||
| Includes | Auger | 6.00 | 10.00 | 2,884 | ||||
| 20.81 | 14,229 | |||||||
| Also includes | Auger | 8.00 | 9.00 | 22.1 | 18,827 | 4,058 | ||
| FT-33 | Auger | 0.00 | 14.00 | 16.13 | 5,137 | 1,147 |
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| Includes | Auger | 3.00 | 7.00 | 1,602 | ||||
| 20.94 | 7,001 | |||||||
| FT-34 | Auger | 0.00 | 11.00 | 13.35 | 3,322 | 661 | ||
| Includes | Auger | 4.00 | 6.00 | 719 | ||||
| 18.60 | 2,920 | |||||||
| FT-35 | Auger | 0.00 | 1.00 | 6.02 | 4,460 | 653 | ||
| FT-36 | Auger | 0.00 | 3.50 | 10.30 | 2,522 | 610 | ||
| FT-38 | Auger | 0.00 | 8.00 | 11.93 | 4,175 | 1,120 | ||
| FT-39 | Auger | 2.00 | 3.00 | 6.70 | 4,139 | 274 | ||
| FT-40 | Auger | 0.00 | 7.00 | 8.98 | 2,570 | 518 | ||
| FT-42 | Auger | 1.00 | 9.50 | 15.01 | 8,118 | 1,694 | ||
| Includes | Auger | 5.00 | 9.00 | 2,514 | ||||
| 18.90 | 11,059 | |||||||
| FT-43 | Auger | 0.00 | 12.00 | 11.17 | 3,513 | 502 | ||
| Includes | Auger | 11.00 | 12.00 | 1,766 | ||||
| 17.60 | 9,136 | |||||||
| FT-44 | Auger | 0.00 | 1.00 | 8.62 | 4,136 | 1,237 | ||
| FT-47 (partial) | Auger | 8.00 | 12.00 | 10.64 | 1,565 | 248 |
Table 1: Significant Assay intervals from Auger Holes, Tiros North
The Tiros North Block, Figure 1, is a plateau, where the Capacete Formation is preserved. Auger holes were positioned along the rim of the plateau, in zones with little or no overburden.
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Figure 1: Map of the drilling grid at the Tiros North Block
The geological map of the Capacete formation, Figure 2, demonstrates the relationship between mineralization and overburden. The current campaign targets zones not covered by overburden.
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Figure 2: Geological Map at the Tiros North Block
The photo below shows the region where the high-grade zone crops out. The top of the plateau, as seen in the background, has overburden covering the Capacete formation, with a thickness in the order of 20 to 25 m. The valleys, as depicted at the front part of this photograph, shows the mineralization without overburden that is a favourable location to start a mining operation.
Photo 1: View to south, from the North of the Tiros North block.
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NEXT STEPS
Resouro will produce a Resource Statement and develop a mine plan to complete a Scoping Study in support of a Trial Mining License application. Work has begun on the Environmental Impact Study required as part of the licensing process. The objective of the Scoping Study is to generate bulk samples of raw, unprocessed material from the North Block, targeting very high-grade, near surface, friable material, for distribution to potential offtake partners. This will help test market interest in direct shipping and guide future development decisions.
In parallel, Resouro will continue evaluating the targets outside its Central block, where drilling is currently concentrated. Exploratory drilling has confirmed the presence of mineralization in both the São Gotardo and North blocks. The Campos Altos block will be mapped with the support of the auger rig, to assess its exploration potential.
This announcement has been authorized for release by the Board of Directors.
Contact Information:
Chris Eager, Alistair Stephens Emily Evans, SPOKE Executive Chair (Santiago) Chief Executive Officer (Perth) Media and Content Manager [email protected] [email protected] [email protected] +44 7388 0579809 +614 88 99 25 +61 401 337 959
About the Company
Resouro is a Canadian incorporated mineral exploration and development company, listed on the ASX, TSXV, OTC and FSE, focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Titanium-Rare Earths Project and the Novo Mundo Gold Project. The Tiros project has 28 mineral concessions totalling 497 km2 located in the state of Minas Gerais, one of the best infrastructurally developed states of Brazil, 350 km from the state capital of Belo Horizonte. Resouro's Mineral Resource Estimate for the Tiros Project contains 165 million tonne of titanium dioxide and 5.5 million tonne of total rare earths oxides within a Measured and Indicated Resource of 1.4 billion tonne.
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| DOMAIN HG (High Grade) | Category Million Tonne TiO % TREO (ppm) MREO (ppm) 2 Measured 30 24 9 ,300 2,500 Indicated 74 23 8 ,900 2,300 M + I 103 23 9 ,100 2,400 Inferred 33 22 8,300 2,200 Measured 340 11 3,700 1,000 Indicated 930 11 3,600 1,000 M + I 1,300 11 3,600 1,000 Inferred 470 11 3,400 920 Measured 367 12 4,100 1 ,100 Indicated 1,000 12 4,000 1,100 M + I 1,400 12 4,000 1 ,100 Inferred 500 12 3,700 1,000 | REO/TREO rat 27% 26% 26% 26% 28% |
| MG (Medium Grade) | ||
| 28% 28% 27% 28% | ||
| TOTAL (HG+MG) | ||
| 27% 28% 27% |
Note: Further details of the Company’s JORC MRE are contained within the Company’s announcement of 9 April, 2025. Resouro is not aware of any new information or data that materially affects the information included in the Company’s announcement and that all material assumptions and technical parameters underpinning the estimates referred to therein continue to apply and have not materially changed.
Resouro Strategic Metals Inc., capital structure
| ASX Chess Depositary Interests | 42,833,059 |
| TSXV Common Stock | 49,756,990 |
| Total on Issue | 92,590,049 |
| Shares held in Escrow included in Total on Issue | 10,979,257 |
| Options issued under the Company Plan | 12,495,000 |
| Options issued to Brokers | 1,843,643 |
| Warrants issued to Brokers | 600,616 |
| Performance Rights | 750,000 |
| Fully Diluted Securities | 108,279,308 |
Competent Person Statement
The information in this report related to Exploration Targets and Exploration Results for drilling at Tiros is based on information compiled by Mr Rodrigo Mello, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM 209332]. Mr Mello is a consultant for Resouro Strategic Metals Inc. and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify him as Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Mello has a financial interest in the project, both as the owner of a minority stake (10% free carried interest) and as a minor shareholder of Resouro. Mr Mello consents to include this information in the report of the matters based on his information in the form and context in which it appears.
The information in this announcement that relates to Mineral Resources is based on, and fairly represents, information compiled and approved by Mr. Simon Mortimer, a Competent and Qualified Person and registered professional geologist (FAIG #7795) with experience in geology, mineral exploration, geological modelling, mineral resource estimation and classification, and database management. Mr. Simon Mortimer is independent of Resouro Strategic Metals Inc.. The mineral resource estimate and the processes involved in its development have been peer reviewed by Mr. Luis Oviedo, a Competent and Qualified Person with significant domain experience in Rare Earth Element deposits. Mr Simon Mortimer is the principal consultant for Atticus Geoscience and has
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sufficient experience that is relevant to the style of mineralisation and type of deposit and to the activity being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and as Qualified Person under the National Instrument 43-101 Standards of Disclosure for Mineral Project. Mr Simon Mortimer consents to the inclusion of this information in this announcement of the matters based on his information in the form and context in which it appears.
Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in the mining industry; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the ASX, OTC, TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Appendix 1: Drill Collar Locations
| HoleID | X | Y | Z | EOH | |
| FT-26 406,487 7,915,096 1,007 12.00 | |||||
| FT-27 406,432 7,915,209 975 10.70 | |||||
| FT-28 406,566 7,915,040 1,010 20.00 | |||||
| FT-29 406,477 7,915,008 998 12.00 | |||||
| FT-30 406,600 7,914,858 1,001 12.00 | |||||
| FT-31 405,925 7,914,437 985 13.00 | |||||
| FT-32 405,594 7,914,448 952 12.00 | |||||
| FT-33 407,538 7,914,721 987 14.00 | |||||
| FT-34 407,620 7,914,903 972 11.00 | |||||
| FT-35 407,568 7,915,100 958 4.00 | |||||
| FT-36 407,468 7,915,209 961 4.50 | |||||
| FT-37 407,411 7,915,344 957 4.00 | |||||
| FT-38 407,559 7,915,048 969 8.50 | |||||
| FT-39 407,848 7,915,796 948 6.00 | |||||
| FT-40 408,040 7,915,689 966 7.00 | |||||
| FT-41 408,234 7,915,597 1,019 12.00 | |||||
| FT-42 408,147 7,915,572 869 9.50 | |||||
| FT-43 405,380 7,914,593 958 12.00 | |||||
| FT-44 406,241 7,915,350 987 1.80 | |||||
| FT-45 404,976 7,914,885 946 5.00 | |||||
| FT-46 404,549 7,914,804 985 15.00 | |||||
| FT-47 406,460 7,914,811 1,037 15.00 |
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Appendix 2: Drill assay results
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APPENDIX 3: JORC Code, 2012 Edition – Table 1 Report
Section 1 Sampling Techniques and Data
| Criteria | JORC Code explanation | Commentary | |
| Sampling • Nature and quality of sampling (e.g. cut channels, random • Samples were taken from Auger drillhole. The sample is dried and split in an Jones splitter. A sub-sample techniques chips, or specific specialised industry standard of 2 kg measurement tools appropriate to the minerals under Is selected for the laboratory analysis. The samples were produced according to industry standard investigation, such as down hole gamma sondes, or procedures. handheld XRF instruments, etc.). These examples should • Measures to ensure sample representativity include setting up of a specific sampling procedure and not be taken as limiting the broad meaning of sampling. having a dedicated-on site full time survey team. • Include reference to measures taken to ensure sample • Best practices as drillcore recovery and depth marks audits were performed during drilling campaigns and representivity and the appropriate calibration of any sampling. measurement tools or systems used. • Aspects of the determination of mineralization that are • Industry standard work has been done. Core samples with an average length of 1 m were sampled Material to the Public Report. In cases where ‘industry separately. ; Resouro sent 2 kg average weight samples to the laboratory. The sampling was planned by standard’ work has been done this would be relatively the geologists and care was taken to avoid any contamination between neighbouring samples. simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralization types (e.g. submarine nodules) may warrant disclosure of detailed information. | |||
| Drilling techniques • Drill type (e.g. core, reverse circulation, open-hole • For this announcement, only Auger drilling results were reported. All drill holes have diameter of 4 “. hammer, rotary air blast, auger, Bangka, sonic, etc.) and • All holes were vertical and with depths varying between 2 to 20 m, as reported in the appendix 1 details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). | |||
| Drill sample • Method of recording and assessing core and chip sample • The auger drilling recovery conference consisted of verifying the weight of the sample against an expected recovery recoveries and results assessed. mass obtained by the multiplication of the rod diameter x expected density. • Measures taken to maximize sample recovery and ensure • Strict control on the services providers was maintained by the Resouro field team, made by two geologists representative nature of the samples. and four technicians. • Whether a relationship exists between sample recovery • It was not observed any relationship between recovery and grade and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. | |||
| Logging • Whether core and chip samples have been geologically • Geotechnical descriptions were not carried out. and geotechnically logged to a level of detail to support • The author considers that the level of detail of geological description for the auger drillhole is sufficient for appropriate Mineral Resource estimation, mining studies the reporting of Exploration Results. and metallurgical studies. • Whether logging is qualitative or quantitative in nature. • Lithological logging is qualitative in nature. Geological description consisted of defining weathering levels, Core (or costean, channel, etc.) photography. mineralogical, lithological, in all holes with a detail of one meter. |
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