Business
Verde AgriTech Commences Drilling at District Scale Clay Hosted Rare Earths Discovery in Minas Gerais, Brazil
Second rig arriving at site in two days; third rig mobilizing in ~15 days Near term focus...
About this update from Verde Agritech Ltd
[{"type":"text","content":"Verde AgriTech Commences Drilling at District Scale Clay Hosted Rare Earths Discovery in Minas Gerais, Brazil\n\n\n\n\n Second rig arriving at site in two days; third rig mobilizing in ~15 days\n \n\n\n\n Near term focus is defining initial high-quality resources for the fastest viable path to production\n \n\n\n SINGAPORE, Oct. 09, 2025 (GLOBE NEWSWIRE) --\n \n Verde AgriTech Ltd.\n \n (TSX: NPK | OTCQX: VNPKF) (“\n \n Verde\n \n ” or the “\n \n Company\n \n ”) announces that drilling commenced on October 7, 2025 at the Company’s district scale, clay hosted rare earth discovery in Alto Paranaíba, Minas Gerais, Brazil. A second rig is scheduled to arrive on October 11, 2025, with a third rig expected to mobilize on or about October 24, 2025, enabling a three-rig program in the near term.\n \n\n\n Program highlights:\n \n\n\n\n\n Three drill rig program:\n \n Drilling commenced October 7, 2025, second drill rig expected on site October 11, 2025, and last drill rig expected in two weeks.\n \n\n\n Fast track objective:\n \n Quickly define highest quality resources to determine the fastest viable path to production; Phase 2 drilling will expand on current drilling to delineate the full potential of the land package.\n \n\n\n Metallurgy:\n \n Ionic adsorption confirmation and flowsheet testwork are underway, with confirmation targeted for Q4 2025.\n \n\n\n Next step:\n \n Board assessment, including naming of project and expected milestones to be released October 14, 2025.\n \n\n\n\n\n “Over the past 15 years we’ve established, in this region of Minas Gerais, the right team and equipment, lab capacity, including power and road infrastructure to advance our projects quickly,”\n \n\n\n commented Cristiano Veloso, Founder and CEO.\n \n\n\n “Building on the recently announced district scale discovery—characterized by high TREO and magnet grade MREO, with a strong NdPr share and consistent Dy/Tb in the highest-grade samples—we are accelerating this new rare earths project in a disciplined, cash efficient way that does not compromise our low carbon fertilizer business.”\n \n\n\n\n\n Project Accelerated Timeline\n \n\n\n The Project’s mineralized zone lies within concessions that form part of Verde’s long held potash property package, wher...