Infill Drilling for Mine Planning at Tiros Project Complete
Page 1 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
ASX: RAU
TSXV: RSM
TSXV Release ASX Release
10 November 2024 11 November 2024
Infill Drilling for Mine Planning at Tiros Project Complete
Resouro Strategic Metals Inc. (ASX: RAU ; TSX-V: RSM ; FSE: 8TX ; OTC: RSGOF )
("Resouro" or the " Company") is pleased to announce that the infill drilling campaign for
mine planning at the Tiros Titanium and Rare Earth Elements (“REE”) Project in Minas Gerais,
Brazil (“Tiros Project” or “Tiros” or “Project”) has been completed.
HIGHLIGHTS
• Assay results received from the first three diamond drill holes of a 46 -diamond drill
hole program.
• 2,922 meters were drilled, in total.
• Results included 4 meters at 22.5% Titanium Dioxide (“TiO2”) and 7,117ppm Total
Rare Earth Oxides (“TREO”).
• Data from the program will be used for future estimation of an updated Mineral
Resource Estimate (“MRE”) and a maiden ore reserve.
ASSAY RESULTS
Assay results from the first three diamond drill ho les from the Tiros Central Block infill
campaign in Brazil are summarized as follows:
• 50 metres at 12.9% TiO2 and 3,969ppm TREO (818 ppm Neodymium and Praseodymium
(“NdPr”)) from 45 metres in drill hole FDTIR-34 (“FDTIR”) including,
o 4 metres at 18.5 TiO 2% and 3,969ppm TREO (818ppm NdPr) from 53 metres
downhole
• 49 metres at 13.7% TiO2 and 4,222ppm TREO (873ppm NdPr) from 5 metres in FDTIR-35,
including;
o 4 meters at 22.5% TiO2 and 7,117ppm TREO (1,260ppm NdPr ) from 13 metres
downhole; and
o 3 metres at 8.9% TiO2 and 8,034ppm TREO (1,196ppm N dPr) from 26 metres
downhole.
• 55 meters at 9.9% TiO2 and 3,486ppm TREO (836ppm NdPr) from 31 metres in FDTIR-36,
including;
o 4 metre s at 8.63% TiO2 and 8,801ppm TREO (3,005ppm NdPr ) from 52 metres
downhole.
Page 2 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
The results reported above are consistent with assay results from previous drilling at the Tiros
Central Block, adding high confidence to the consistency of mineralisation.
These reported results represent preliminary assays from an infill diamond drill program, which
includes 46 drill holes totalling 2,922m in the Central Block at Tiros using cut -off grades of
1,000ppm for TREO and 6% for TiO2 (refer Appendix 1, 2, 3). The assay data from the current
drill program will be incorporated into the existing resource model for Tiros and used for the
updated mineral resources.
Commenting on completion of the infill diamond drill program at Tiros, Resouro’s CEO,
Alistair Stephens, said: “Completing our infill drilling program brings us one step closer to
achieving our development objectives and enhances our understanding of the resource's
continuity and quality. We believe the data collected will provide valuable insights that support
our future planning and decision-making as we advance towards a comprehensive evaluation.
We look forward to sharing detailed results once the data has been fully analysed.”
Previous Drilling Raw Assay Data
Table 1 summarises the average grades for key elements within all mineralized drill intercepts
used in the mineral resource estimate from 2,782 assays.
TiO2% Fe2O3% Al2O3% SiO2%
12.7% 27.7% 9.3% 36.7
Ce La Nd Pr Sm Eu Gd Dy Tb Other Y
ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
1,739 852 650 185 91 22 55 26 6 19 91
46.5% 22.8% 17.4% 5.0% 2.4% 0.6% 1.5% 0.7% 0.2% 0.5% 2.4%
69.3% 22.4% 4.5% 0.9% 2.9%
Table 1: Average for all drill assay data for Tiros Project used in the MRE
Table 2 (following page) provides a summary of the average grades for key elements across all
mineralisation from a database of 446 assay intervals within the high -grade near surface
domain.
TiO2% Fe2O3% Al2O3% SiO2%
22.4% 35.3% 10.2% 20.7
Ce La Nd Pr Sm Eu Gd Dy Tb Other Y
ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
3,448 1,578 1,194 350 165 39 90 40 9 26 111
48.9% 22.4% 16.9% 5.0% 2.3% 0.6% 1.3% 0.6% 0.1% 0.3% 1.6%
71.3% 21.9% 4.2% 0.7% 1.9%
Table 2: Average for all drill assay data for the Tiros Project within the high-grade domain
Page 3 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
The difference in the average grades of mineralisation to the grades in the MRE is due to the
treatment of cut-off grades and spatial statistical analysis of mineralised domains used in the
resource calculation that is different from the average of the data sets. In all data sets, elevated
assay of barium, strontium, zircon and niobium are evident, warranting further analysis.
The cross section of the Tiros Project mineralisation ( Figure 1 ) illustrates the high -grade
domain, that varies between 2 to 10 metres in thickness (shown in red). The high -grade
mineralised layer is exposed at surface in many areas. This high -grade occurs close to the top
of a lower grade mineralisation layer that is typically 30 to 40 metres thick.
High-grade titanium and rare earths mineralisation has a correlation to high-iron and low-silica
assays, while lower grade titanium and lower grade rare earths mineralisation is associated
with low iron and low silica grades.
Figure 1: An illustrated cross section of the Tiros Project mineralisation demonstrating the relationship
with overburden, high-grade mineralisation (red) and low-grade mineralisation (yellow and brown).
Figure 2, overpage, demonstrates how ground penetrating radar has been used to assist in the
definition of geological domains. When used in conjunction with drill hole assay data, this
information assists in the definition of the mineralisation domains that define the MRE.
Page 4 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Figure 2. An example of how ground penetrating radar at Tiros has been used in the
interpretation of geological boundaries along with drill data for the classification of
mineralisation domains. Top image, raw ground radar data; Middle image, initial
interpretation of ground radar domains; Bottom image, interpreted geological domains.
Figure 3, overpage, demonstrates the spatial distribution between the Tiros North (northern),
Tiros Central (central), Sao Gotardo and Campos Altos (southern) regions of mineralisation
and tenement holding. High grades of mineralisation in drill holes are present in each tenement
of the Tiros North, Tiros Central and São Gotardo Targets (reference: Prospectus ASX:RAU
dated 1 May 2024 and lodged with ASX on 13 June 2024).
Page 5 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Figure 3. Resouro’s tenement holding at Tiros North, Tiros Central, Sao Gotardo and Campos Altos.
Page 6 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Background to Tiros Project Drilling
The drilling completed at Tiros has consisted of three phases (Table 3). Historic drilling
included 21 drill holes, and an additional 98 drill holes in 2023, which were used to compile
the data necessary to complete the maiden MRE.
Number of holes Metres
Previous Works
Air core 20 950
Diamond 1 82
2023 Programs
Air core 40 2,190
Diamond 33 2,320
Auger 25 264
2024 Programs
Diamond 46 2,922
Grand Total 165 8,728
Table 3. Total Drilling completed on all Tiros tenements
Drilling Completed by Resouro in the Central Block
Following the release of the Company’s maiden JORC compliant MRE for the Tiros Project
(reference: ASX Announcement 18 July 2024, TSXV 17 July 2024), an infill drilling campaign
was completed within the Central Block at Tiros.
The infill drilling program consisted of 46 diamond drill holes for 2,922m in flat areas with
low overburden thickness that would be optimal for the commencement of a mining operation.
The drilling program was designed to provide an improved confidence in a resource model at
the Tiros Central Block using the same cut-off grades of 1,000ppm TREO and 6% TiO2 as used
in the existing MRE. The data from this program will also be incorporated into the existing
Mineral Resource model for Tiros and used for future estimation of an updated Mineral
Resource estimation and a maiden ore reserve.
Figure 4 (below), outlines the three phases of drilling completed (including the most recent 46
diamond drill holes) on the Central Block at Tiros, which currently represents approximately
7% of the total project tenements area.
Page 7 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Figure 4: Drill hole locations at Tiros Central Block.
Next Steps
Resouro plans to undertake surveys over the Company’s tenements, focussing on areas where
stripping ratios are optimal for bulk mining trials which have the potential to deliver material
within the quickest timeframe. This work includes:
• Further metallurgical test work programs with preferred laboratory partners to optimize
REE leaching recovery and TiO2 extraction conditions.
• Undertaking a scoping study with Subject Matter Experts in 2025, as a precursor to
Prefeasibility Studies.
• Complete preliminary mining and environmental baseline studies for bulk mining trials.
• Downstream studies and product testing to align the metallurgical flow sheet with
potential offtake partners.
• Continued engagement with regulatory authorities in Minas Gerais to progress the
process for application of a mining concession over the Central Block of Tiros.
Page 8 of 21
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
This announcement has been authorized for release by the Board of Directors.
Contact Information:
Chris Eager,
Executive Chair (Santiago)
+44 7388 0579809
Alistair Stephens
Chief Executive Officer (Perth)
+614 88 99 2544
Melissa Hamilton,
Media (Sydney)
+61 417 750 274
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 in Minas Gerais
and the Novo Mundo Gold Project in Mato Grosso. The Tiros project has 29 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 is 1.7 billion tonnes of Inferred,
Indicated and Measured Resource s (reference: ASX release ASX:RAU dated 18 th July 2024,
TSXV 17th July 2024).
Note: Further details of the Company’s Maiden JORC MRE are contained within the Company’s
announcement of 18 July, 2024. Resouro is not aware of any new information or data that materially affects
the information included in the Company’s announcement of 18 July 2024 and that all material assumptions
and technical parameters underpinning the estimates referred to therein continue to apply and have not
materially changed.
MREO (ppm)TREO (ppm)TiO2 (%)TONNES (t) CategoryDomain
2,2008,7002342,000,000Inferred
HG
High Grade
2,3809,0302355,700,000Indicated
2,5309,3202420,800,000Measured
2,4009,00023120,000,000Sum
9503,50011620,000,000Inferred
MG
Medium Grade
1,0203,65011704,000,000Indicated
9973,57011224,000,000Measured
9303,500111,500,000,000Sum
1,1003,900121,700,000,000Totals