Resouro Strategic Metals Metallurgy Update for the Tiros Project
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 1 of 19
ASX: RAU
TSXV: RSM
TSXV Release: ASX Release:
12 August 2024 13 August 2024
Resouro Strategic Metals Metallurgy Update
for the Tiros Project
Resouro Strategic Metals Inc. (ASX: RAU ; TSX-V: RSM ; FSE: 8TX ; OTC: RSGOF )
("Resouro" or the "Company") is pleased to announce an update on its metallurgical studies
for the Tiros Titanium and Rare Earth Elements Project in Brazil (“Tiros Project” or “Tiros”
or “Project”) which marks a significant milestone in the Project’s development. The results
from the metallurgical test work below indicate that Resouro, together with its partner Altilium
Projects (Australia) Pty Ltd (“ Altilium”), have the potential to achieve the highest rare earth
extractions known across the industry to date.
Highlights
Following the July 18, 2024 release of the Company’s maiden JORC Mineral Resource
Estimate ( “MRE”) for the Tiros Project , Resouro has completed the first steps of its
metallurgical strategy with its partner, Altilium.
The aim of this metallurgical study was to achieve maximum extractions and recovery of Rare
Earth and Titanium minerals, applying Altilium’s patented technology , including acid
regeneration with minimal acid loss as well as zero waste.
Altilium assessed a n approximately 50kg representative sample, covering five diamond drill
holes of the Tiros JORC compliant resource in labor atory conditions and produced the
following extraction results:
TEST TREY LREE MREE HREE
L3 80.8% 81.6% 96.2% 74.8%
Table 1: Metallurgical Extraction using 50kg of representative sample.
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 2 of 19
President, CEO, Director and Founder, Chris Eager commented:
“Completion of our first stage of the Altilium extraction assessment for the
Central Block of the Tiros Rare Earth project marks a pivotal moment for
Resouro Strategic Metals and the industry as a whole.”
“These extraction results, combined with the maiden JORC mineral resource estimate, provide
our shareholders with confidence that Tiros’ consistently thick, near surface and highly
weathered clay-like material has strong potential to produce excellent results and meet the
needs of the global demand for stable supply of rare earth critical minerals.”
“Our metallurgical studies will continue the next steps with our part ner, Altilium, whilst
reviewing options from the more conventional metallurgical study path. This work combined
with our infill drilling for mine planning and feasibility and environmental purposes will seek
to establish Resouro as a leading rare earth business.”
“Resouro is committed to sustainable practices and positive community engagement, ensuring
that our growth contributes to the well-being of the regions in which we operate.”
“Resouro will continue to update the market on progress to completion of our Preliminary
Economic Assessment”
About Altilium
Altilium Group Limited (“Altilium Group”), incorporated in England, is the parent company
of Altilium Licensing Limited (“ALL”) and Altilium Projects (Australia) Pty Ltd).
Research and development for the Altilium Group is performed in A ustralia. Altilium
Technology may be applied to ore, mining waste or process tailings. The first developed
application of Altilium Technology was the Altilium Nickel Laterite Process ™ which is
designed to process nickel laterite ore. The Altilium Group has subsequently developed the
following processes:
• Altilium Bauxite Process™ - to extract metals from bauxite ore;
• Altilium Red Mud Process™ - to re-process bauxite residue (tailings); and
• Altilium Ti/REE Process™ - to extract titanium and rare earth elements from a lateritic ore.
The Altilium Group is proactively researching and develop ing new applications for its
technology with a focus on the extraction of critical metals.
Altilium Group has marked the successful completion of its latest metallurgical testing phase,
utilising the proprietary Altilium Ti/REE Process™ on a 50 kg composite sample provided by
Resouro. This rigorous testing process, carried out at Core Resources Laboratories in Brisbane,
involved air -drying and milling the sample to 0.5mm to analyse its chemical and mineral
content. Three leach tests were conducted to understand the metal extractions, with the goal of
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 3 of 19
generating a solution rich in rare earth elements (“REEs”) and a residue enriched with titanium.
Notably, the third test, which incorporated a pre -treatment process, achieved the highest rare
earth extractions known in the industry to date, demonstrating the effectiveness of Altilium's
innovative approach.
Building on these promising results, Altilium Group is now focused on the next phase of
development, which involves designing and executing a laboratory -scale test programme to
establish the Altilium Ti/REE Process™ flowsheet. The company aims to optimise the process
parameters to improve the grades and extraction efficiency of target metals, including titanium,
silica, REEs, scandium, iron, and aluminium.
Christopher Gower, CEO of Altilium Group, said, “The recent completion of this “Sighter Test
Work” marks a significant milestone for Altilium Group. By applying our proprietary Altilium
Ti/REE Process™ (at Core Resources Laboratories), we have achieved unprecedented levels
of rare earth extractions, reinforcing our commitment to innovation and excellence in resource
processing. This accomplishment not only highlights the potential of our technology but also
sets a new benchmark for the industry."
“Looking ahead, our focus is on refining and optimising the Altilium Ti/REE Process ™ and
our other process flowsheets to maximise the extraction efficiency for the target metals:
titanium and rare earth elements in this case; and, alumina, iron, nickel, cobalt, scandium and
more in the case of our other flowsheets. Our goal is to continually enhance the grades, yields
and extractions to deliver an efficient and profitable flowsheet, positioning Altilium as a leader
in sustainable mineral processing solutions."
The Altilium Metallurgical Test Work
The scope for the first stage Altilium test work was aimed at understanding the feasibility of
applying the Altilium Ti/REE Process ™ technology to Resouro’s samples mainly for the
extraction of rare earth elements into solution.
The work involved a composite sample of 50kg, premixed by Resouro, air dried and milled to
100% passing 0.5mm. Chemical and mineralogical analysis was conducted on the head sample.
Three optimization sighter leach tests were conducted using nitric acid (HNO3) applying the
Altilium Ti/REE Process™ at Core Resources Laboratories in Brisbane to generate P regnant
Leach Solution (“PLS”) and residue. The samples were assayed for aluminium (Al), calcium
(Ca), cobalt (Co), chromium (Cr), iron (Fe), gallium (Ga), magnesium (Mg), manganese (Mn),
nickel (Ni), sulphur ( S), scandium (Sc), silicon ( Si), titanium ( Ti), and rare earth elements
(REEs).
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 4 of 19
The sighter leach test conditions were assessed as follows:
• L1 test involved leaching at the standard acid concentration used in the Altilium
Ti/REE Process™.
• L2 test involved leaching at high concentration of acid.
• L3 test involved a pre leach heat treatment process and leaching at the standard acid
concentration used in the Altilium Ti/REE Process™.
In all these tests, REE metal extractions, acid consumptions and residue compositions were
measured with the summary of extraction of the REE noted below.
TEST TREY LREE MREE HREE
L1 69.3% 69.3% 72.5% 73.8%
L2 59.8% 59.8% 63.8% 62.5%
L3 80.8% 81.6% 96.2% 74.8%
Table 2: Metallurgical Extraction using 50kg of representative sample under the three test
conditions.
Notably, the titanium dioxide (“TiO2”) contained in the sample reported between 2.5 – 4.5% in
the PLS with the remaining pleasingly not reporting to the PLS indicating a strong possibility
of TiO2 recovery by traditional metallurgical recovery methods from the residue.
The representative samples were taken from the Tiros central project area over four tenements
which are the subject of the recent maiden JORC MRE announcement by Resouro dated July
18th, 2024.
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 5 of 19
Figure 1: Plan view of the Tiros project tenements including the central blocks highlighted
and covered in the Maiden JORC MRE announcement and the subject of this metallurgical
results announcement.
Proposed Future Works
Following this announcement, Resouro will commence the second phase of the Altilium test
work. This work includes testing the representative Resouro sample with the Altilium Ti/REE
Process™ technology flowsheet. This work will also include separating the TiO 2, and zircon,
niobium and phosphate potential from the leach/residue by various beneficiation processes. In
addition, the following tasks will be undertaken:
• In-fill drilling to work towards delineating a potential JORC compliant reserve;
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 6 of 19
• Further metallurgical test work programs with preferred laboratory partners to optimise REE
extraction and TiO2 recovery under typical conditions;
• Undertake a Scoping Study with Engineering Procurement and Construction Management
(“EPCM”) partner and other subject matter experts;
• Complete a Preliminary Mining and Environmental Baseline survey and studies to submit
bulk mining approvals and work towards a pilot project; and
• Downstream studies and product testing to align the metallurgical flow sheet with potential
future offtake partners.
Competent Person Statement
The information in this announcement that relates to the Metallurgical Results is based on, and
fairly represents, information compiled by Mr Sravan Maddipati a Competent Person and
registered professional Metallurgist (MAUSIMM #323008) with experience in metallurgy,
metallurgical studies and operations and experience in rare earth element extraction . Mr
Maddipati is an employee of Altilium 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 a Competent Persons as defined in the 2012 Edition of the Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves.
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 Mortimer is a consultant
for Atticus Geoscience and ha s sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity being undertaken to
qualify them 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 Projects. Mr
Maddipati and Mr Mortimer consent 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.
The information in this announcement that relates to Exploration Targets, Exploration Results
and Mineral Resources is based on, and fairly represents, information compiled by Mr Luis
Oviedo. Mr Oviedo is a consultant for Atticus Geoscience 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 t he 2012 Edition
of the ‘Australasian Code for Reporting of Explor ation Results, Mineral Resources and Ore
Reserves’. Certain information in this announcement is extracted from the ASX announcement
titled "Resouro Strategic Metals Maiden JORC Resource for the Tiros Project" dated 18 July
2024 that relates to Exploration Targets, Exploration Results and Mineral Resources and is
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 7 of 19
based upon information compiled by Mr Luis Oviedo. The Company confirms that it is not
aware of any new information or data that materially affects the information included in the
ASX announcement and, in the case of Exploration Targets, Exploration Result s and Mineral
Resources, that all material assumptions and technical parameters underpinning the estimates
in the relevant market announcement continue to apply and have not materially changed. The
Company confirms that the form and context in which Mr Oviedo's findings are presented have
not materially been modified from the original market announcement. Mr Luis Oviedo
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.
This announcement has been authorized for release by the Board of Directors.
Contact Information:
Chris Eager, CEO
+44 7388 0579809
Justin Clyne, Director
+61 407 123 143
Melissa Hamilton, Media & Capital
Partners, Director
+61 417 750 274
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 520, 999 West Hastings Street, Vancouver, British Columbia, Canada – Tel: +1 416 642 1807 Page 8 of 19
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 project in Minas Gerais and the Novo Mundo
Gold Project in Mato Grosso. The Tiros project represents 25 mineral concessions totalling 450
km2 located in the state of Minas Gerais, one of the most infrastructurally developed states of
Brazil, 350 km from Belo Horizonte, the state capital. Resouro has released a Mineral Resource
Estimate for the Tiros Project of 1. 7 bn tonnes of Inferred, Indicated and Measured Resource
as announced to the ASX on 18 July 2024 (TSXV 17 July 2024) and is based on the JORC
Compliant Technical Report prepared by Mr Simon Mortimer and Mr Luis Oviedo of Atticus
Geoscience, as follows:
DOMAIN CAT TONNES (t) TiO2 (%) TREO (ppm) MREO (ppm)
HG (High Grade)
Inferred 42,000,000 23 8,700 2,200
Indicated 55,700,000 23 9,030 2,380
Measured 20,800,000 24 9,320 2,530
Sum 120,000,000 23 9,000 2,400
MG (Medium
Grade)
Inferred 620,000,000 11 3,500 950
Indicated 704,000,000 11 3,650 1,020
Measured 224,000,000 11 3,570 997
Sum 1,500,000,000 11 3,500 930
Totals 1,700,000,000 12 3,900 1,100
Note: Further details of the Company’s Maiden JORC MRE are contained within the
Company’s announcement of 18 July, 2024.