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Aclara Announces 77% Increase in Inferred Mineral Resources at Carina Module in Goias, Brazil
TORONTO, ON / ACCESSWIRE / August 9, 2024 / Aclara Resources Inc. ("Aclara" or the "Company") (T...
About this update from Aclara Resources, Inc.
[{"type":"text","content":"Aclara Announces 77% Increase in Inferred Mineral Resources at Carina Module in Goias, BrazilTORONTO, ON / ACCESSWIRE / August 9, 2024 / Aclara Resources Inc. (\"Aclara\" or the \"Company\") (TSX:ARA) is pleased to announce an updated mineral resource estimate (\"MRE\") of the Carina Module, Aclara's ion adsorption clay project located in Goiás, Brazil, (the \"Carina Module\"), which reflects an inferred mineral resource of 298 Mt, an increase from the previously reported inferred mineral resource statement of 168Mt on December 12, 2023 (the \"2023 Resource Statement\").HighlightsThe inferred mineral resource for the Carina Module is estimated at 298 Mt, which represents a 77% increase compared to the previously reported inferred mineral resource of 168Mt.The estimate of contained amounts of magnetic elements1 increased approximately 69% compared to the amount reported in the 2023 Resource Statement, reflecting an increase in contained heavy rare earths (dysprosium and terbium (DyTb)), from 8,240t to 13,470t, and an increase in contained light rare earths (neodymium and praseodymium (NdPr)), from 49,832t to 84,565t. Rare earth magnetic elements (i.e. DyTb and NdPr) are critical to the production of permanent magnets that are used in electric vehicles and wind turbines.Metallurgical recoveries of rare earths from the Carina Module remain compatible with the technology patented and successfully demonstrated on a pilot scale by Aclara at its pilot plant located in Chile, which is designed to minimize both cost and environmental footprint.The near-surface location of the deposit results in a low strip ratio (0.2) providing a positive backdrop for low-cost mining operations.Secured two additional mining rights adjacent to its existing mineral rights in the Carina Module through a public bidding process conducted by the Brazilian National Mining Agency (\"Agencia Nacional de Mineração\" or \"ANM\"). The two new mining rights will enable Aclara to explore new areas in the future and further optimize the design of the Carina Module.Next StepsAnticipated completion of an updated preliminary economic assessment of the Carina Module in September 2024.Continuation of the Carina Module pre-feasibility study as previously reported in the Company's press release dated May 6, 2024.Completion of a 15,200-meter Phase 2 reverse circ...