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Resouro Strategic Metals Inc Recent Drilling Results Released Producing Highest Grade/Thickness Results from the Tiros Project

18.01.2024  |  Newsfile
Toronto, Jan. 18, 2024 - Resouro Strategic Metals Inc. (TSXV: RSM) (FSE: 8TX) ("Resouro" or the "Company") is pleased to provide an update on activities at the Tiros Rare Earths and Titanium project in Brazil ("Tiros Project" or "Project").

Key highlights from recent assays received include;

  • 38 metres at 6,444 ppm TREO with 1,524 ppm NdPr and 17.5% TiO2 from 40m (Aircore)

  • 34 metres at 4,216 ppm TREO with 1,020 ppm NdPr and 10.6% TiO2 from 24m (Aircore)

  • 28 metres at 4,585 ppm TREO with 1,012 ppm NdPr and 12.7% TiO2 from 29m (Aircore)

  • 12 metres at 8,150 ppm TREO with 1,575 ppm NdPr and 20% TiO2 from surface (Auger)

  • 10.5 metres at 7,181 ppm TREO including 2,222 ppm NdPr and 17.5% TiO2 from surface (Auger)

  • 14 metres at 4,340 ppm TREO with 911 ppm NdPr and 12.1% TiO2 from 29m (Auger)

In summary, the 518 samples taken from the 13 holes (AC and Auger) in the recent campaign produced (see figures 1 - 3)

  • 83% of the samples had a TREO grade above 3,000 ppm;

  • 84% of the samples had a NdPr grade of over 500 ppm; and

  • 85% of samples had a TiO2 grade of over 10%.

Note: The potential quantity and grade are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Commenting on the significance of these high-grade assays results from Tiros, CEO and President of Resouro, Chris Eager, said:

"We are extremely pleased with the assay results from the recent drilling campaign at Tiros, which demonstrate both the highest grades (TREO, NdPr and TiO2) and thicknesses we have seen at the project to date. Drilling to date has consistently demonstrated thick intercepts of high-grade TREO and TiO2. The latest results continue to indicate Tiros could be a globally significant REE and TiO2 project."



Figure 1: Grade Distribution of Total Rare Earth Oxides from drilling results received to date from the Tiros Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_002full.jpg



Figure 2: Grade Distribution of NdPr Rare Earth from drilling results received to date from the Tiros Project (Note: The distribution percentages outlined)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_003full.jpg



Figure 3: Grade Distribution of Titanium Dioxide from drilling results received to date from the Tiros Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_004full.jpg

Resouro has focused drilling on the Tiros Centre (see figure 5) which covers 44 km2 in the centre of the Tiros Project with its northern tenements (Tiros North) also producing excellent results. The Tiros Centre covers approximately 9.5% of the total 477 km2 of the Tiros Project. The program includes Air- Core, Diamond and Auger drilling, all to provide data for a maiden Resource Estimation.

Resouro has now completed 257m over 25 auger holes, 1,562m over 30 Air-Core holes and, 1,634m over 26 Diamond holes, excluding historical drilling by Vincenza and Iluka with 950m over 20 holes of Air-Core drilling and 1 diamond drill hole at 82m by Vincenza. The assay results published in this release are the first of significant number of drill samples currently in the laboratory for assay.

The recent results from Tiros confirm the Company's technical analysis of the geology showing a high grade REE and Tio2 resource below overburden in the plateaus of the regional Capacete Formation indicating a relative homogeneous globally significant high grade ore body as indicated in figure 4 below.



Figure 4: a typical resource section of the Tiros Project across the plateaus of the Capacete Formation.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_005full.jpg



Figure 5: Tiros Tenements Location Map (left) and current drilling program hole locations on Tiros central (right)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_3867efcbd41a6a59_006full.jpg

Quality Assurance Quality Control
A QA/QC program is in place for every batch of samples sent to the laboratory including blanks, different types of standards, for REE and titanium, and also field duplicates. Further, a number of samples in each batch are later chosen for testing in a secondary laboratory and in the primary laboratory, as pulp or coarse duplicates.

Qualified Person ("QP")
The technical content of this news release has been reviewed and approved by Rodrigo Mello B.Sc. Geology, FAusIMM and a qualified person as defined by National Instrument 43-101. Mr Mello has reviewed and verified the drilling and assay data included in this announcement.

Important Notice
The Company refers to its release on SEDAR Plus on 17 August 2023 titled "Resouro Completes Historical Desktop Study Including Historical Resource at Tiros Rare Earths and Titanium Project in Brazil" (Release), which included disclosures regarding the Company's initial resource target and historical resource estimates.

The Company advises that the initial resource target and resource estimates table disclosed in the Release were not compliant with either the standards prescribed by National Instrument 43-101 - Standards of Disclosure for Mineral Projects or the 2012 Edition of the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company retracts that information and advises that investors should not rely on the retracted information in assessing the Company's Tiros Rare Earths and Titanium Project or for any investment decision.



Figure 6 - Grade Profile from Selected Air-Core and Auger Holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_figure6resouro.jpg



Figure 7: Typical Diamond Drill Core from Tiros Showing Capacete Formation Clays

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5944/194740_figure7resouro.jpg

Tiros Acquisition Update

Further to the Company's recent announcements regarding the acquisition of Tiros, the Company is pleased to advise that it is closing out the final states of the acquisition with one of the key requirements, being the approval of the issue of 4 million options to the Company's President & CEO, Chris Eager, approved by shareholders at the special meeting held earlier this week with the results summarised below. The remaining outstanding items relate to the submission of a NI 43-101 technical report in relation to the Tiros Project and a report on the Project's title and accompanying opinion to that effect. These matters will be rounded out in coming days and, subject to confirmation by the TSXV that the documents submitted are satisfactory, the Company will formally proceed to close the acquisition and issue the consideration equity.

Meeting Results

Further to the Company's news release dated December 22, 2023, on January 16, 2024, the shareholders of the Company were asked to approve, among other matters, a new stock option plan (the "Amended and Restated Option Plan") at a special meeting of the shareholders (the "Meeting").

At the Meeting, four resolutions were placed before the shareholders. The first of which was a resolution requiring ordinary and disinterested shareholder approval to amend the stock option plan, to, among other things, permit the Company to issue stock options exercisable for up to 14,193,752 common shares of the Company, being 20% of the issued and outstanding Common Shares as at the date of the management information circular in respect of the Meeting (the "First Resolution"). The second, a resolution requiring two separate disinterested shareholder approvals of the grant of 4,000,000 options with an exercise price of $0.20 per Common Share (the "Options") to Christopher Eager, President and Chief Executive Officer of the Company (the "Second Resolution"). The third, a resolution requiring disinterested shareholder approval of the issuance of additional options equal to up to 10% of the issued and outstanding common shares of the Company to Insiders of the Company, as such term is defined by the policies of the TSX Venture Exchange, within the 12 month period following the Meeting, in excess of the grant of the Options (the "Third Resolution"). The fourth, a resolution requiring disinterested shareholder approval of the issuance of additional options equal to up to 5% of the issued and outstanding common shares of the Company to Christopher Eager within the 12 month period, following the Meeting, in excess of the grant of the Options (the "Fourth Resolution").

A total of 25,305,276 Common Shares, or 99.99% of the votes cast at the Meeting by holders of Common Shares present or represented by proxy were cast in favour of the First Resolution with respect to the ordinary resolution approval required. 7,149,527 Common Shares, or 99.99% of the votes cast at the Meeting by holders of Common Shares present or represented by proxy were cast in favour of the First Resolution with respect to the disinterested approval required. Similarly, a total of 7,149,527 Common Shares, or 99.99% of the votes cast at the Meeting by holders of Common Shares present or represented by proxy were cast in favour of the Second Resolution, Third Resolution and Fourth Resolution with respect to each of the levels of disinterested approval required for each of the relevant resolutions.

Details of all matters voted upon at the Meeting are provided in the management information circular in respect of the Meeting, a copy of which is available on the Company's SEDAR+ profile.

About the Company

Resouro is a Canadian-based mineral exploration and development company 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 totaling 477 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.

This announcement has been authorised by Mr. Chis Eager, on behalf of the Board of Directors.

Chris Eager, President & CEO
Resouro Strategic Metals Inc.

For further information, please contact the Company at:

+1 416 642-1807 (Principal Office - Toronto, Canada)

Chris Eager, CEO
chris.eager@resouro.com

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, including obtaining conditional and final acceptance of the TSXV; 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 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Selected High Grade Drilling Intervals to Date

HOLE-ID Type FROM TO Thickness TREO ppm NdPr ppm TiO2%
ACTIR-02 AC 36 42 6 1,986 377 10.23
ACTIR-03 AC 44 48 4 3,082 393 13.01
ACTIR-04 AC 37 51 14 4,125 822 11.83
includes AC 46 49 3 8,478 1,924 22.27
ACTIR-05 AC 36 47 11 2,530 409 11.71
ACTIR-08 AC 44 55 11 3,382 516 15.77
includes AC 53 55 2 5,986 1,163 22.39
ACTIR-09 AC 13 28 15 4,873 1,027 17.00
includes AC 16 25 9 6,728 1,489 21.62
ACTIR-10 AC 26 39 13 4,599 980 16.73
includes AC 31 36 5 7,268 1,763 22.57
ACTIR-11 AC 11 53 42 4,116 866 16.47
includes AC 13 22 9 6,014 1,162 20.20
ACTIR-12 AC 51 60 9 5,521 1,136 17.12
includes AC 53 60 7 6,587 1,368 19.22
ACTIR-13 AC 29 36 7 2,865 659 8.78
ACTIR-14 AC 31 35 4 2,629 535 10.06
ACTIR-16 AC 30 51 21 3,334 726 11.23
includes AC 38 41 3 5,948 1,277 21.39
ACTIR-18 AC 22 33 11 4,933 1,047 14.25
includes AC 29 32 3 8,147 1,995 22.96
ACTIR-20 AC 13 27 14 5,495 1,220 15.19
includes AC 21 25 4 10,421 2,567 22.43
ACTIR-21 AC 29 43 13 4,340 911 12.13
ACTIR-22 AC 23 58 32 4,120 996 10.35
ACTIR-23 AC 29 57 28 4,585 1,012 12.74
ACTIR-24 AC 34 78 44 5,739 1,356 15.44
includes AC 43 53 10 10,703 2,491 22.95
FT-01 Auger 0 6 6 4,189 501 20.56
includes Auger 1 6 5 4,184 488 21.30
FT-02 Auger 0 11 11 5,253 1,056 15.26
includes Auger 8 11 3 6,671 1,979 17.62
FT-03 Auger 0 6 6 4,058 1,103 15.03
includes Auger 2 4 2 4,712 1,156 19.96
FT-04 Auger 3 15 12 6,699 1,330 19.41
FT-05 Auger 2 9 7 3,455 774 10.92
FT-07 Auger 0 2 2 3,610 802 10.82
HOLE-ID Type FROM TO Thickness TREO ppm NdPr ppm TiO2%
FT-09 Auger 3 11 8 5,768 1,085 16.03
includes Auger 5 9 4 7,952 1,453 21.82
FT-10 Auger 7 10 3 3,143 250 8.76
FT-11 Auger 0 10.5 10.5 7,181 2,222 10.47
FT-14 Auger 12 15 3 662 105 9.37
FT-15 Auger 3 16 13 1,846 264 9.92
FT-16 Auger 0 13 13 1,546 209 7.20
FT-18 Auger 2 9 7 2,508 467 7.66
FT-19 Auger 0 11 11 4,131 1,010 8.78
FT-20 Auger 6 7 1 223 11 6.14
FT-21 Auger 0 2 2 1,882 145 4.65
FT-23 Auger 0 11 11 5,155 952 14.03
includes Auger 7 11 4 9,087 1,940 21.47
FT-24 Auger 0 15 15 3,885 665 13.01
includes Auger 10 13 3 6,498 1,394 18.74
FT-25 Auger 0 12 12 8,150 1,575 20.10
includes Auger 2 12 10 8,710 1,760 21.50
PMC-FD-0074 Core 20.3 72.2 51.9 3,608 820 11.73
includes Core 24.9 32.1 7.2 8,382 1,782 23.27
Tiros Air-Core Hole - AC-TIR-002
FROM TO TiO2% TREOppm NdPrOxide
36 37 10.05 817 165
37 38 7.41 1,502 299
38 39 10.07 2,148 410
39 40 10.22 1,711 313
40 41 11.03 2,469 445
41 42 12.61 3,271 628
Average Grade 10.23 1,986 377
Metres 6
Tiros Air-Core Hole - AC-TIR-003
FROM TO TiO2% TREOppm NdPrOxide
44 45 10.32 2,007 86
45 46 11.21 2,050 226
46 47 13.96 5,498 869
47 48 16.56 2,771 391
Average Grade 13.01 3,082 393
Metres 4
Tiros Air-Core Hole - AC-TIR-004
FROM TO TiO2% TREOppm NdPrOxide
37 38 10.54 2,073 220
38 39 6.98 1,881 122
39 40 9.81 2,119 290
40 41 11.68 1,730 199
41 42 6.40 1,697 248
42 43 7.31 2,434 471
43 44 8.45 2,625 655
44 45 7.73 2,330 544
45 46 10.49 7,880 1,103
46 47 25.00 10,380 2,082
47 48 18.67 6,810 1,886
48 49 23.14 8,243 1,804
49 50 11.64 4,714 1,312
50 51 7.78 2,831 566
Average Grade 11.83 4,125 822
Metres 14
Tiros Air-Core Hole - AC-TIR-005
FROM TO TiO2% TREOppm NdPrOxide
36 37 11.58 1,574 177
37 38 11.54 1,515 184
38 39 9.03 1,182 150
39 40 9.90 1,642 171
40 41 12.42 2,231 375
41 42 12.72 3,312 538
42 43 12.74 2,838 519
43 44 10.67 2,562 455
44 45 11.99 2,827 494
45 46 12.13 3,627 594
46 47 14.07 4,523 845
Average Grade 11.71 2,530 409
Metres 11
Tiros Air-Core Hole - AC-TIR-008
FROM TO TiO2% TREOppm NdPrOxide
44 45 6.43 725 59
45 46 9.65 1,134 101
46 47 11.25 1,592 182
47 48 24.29 4,927 954
48 49 10.74 2,720 408
49 50 18.38 3,740 450
50 51 19.28 4,220 319
51 52 15.19 2,630 310
52 53 13.54 3,545 570
53 54 25.00 7,178 1,490
54 55 19.77 4,794 837
Average Grade 15.77 3,382 516
Metres 11
Tiros Air-Core Hole - AC-TIR-009
FROM TO TiO2% TREOppm NdPrOxide
13 14 6.58 648 44
14 15 9.41 2,128 124
15 16 9.29 2,077 199
16 17 18.77 2,444 275
17 18 18.46 2,886 373
18 19 17.08 3,505 548
19 20 18.27 4,972 968
20 21 25.00 10,468 2,596
21 22 23.83 8,369 1,961
22 23 25.00 10,619 2,518
23 24 25.00 11,197 2,659
24 25 23.19 6,092 1,506
25 26 9.43 2,154 490
26 27 12.74 2,795 597
27 28 12.93 2,741 542
Average Grade 17.00 4,873 1,027
Metres 15
Tiros Air-Core Hole - AC-TIR-010
FROM TO TiO2% TREOppm NdPrOxide
26 27 14.31 2,103 73
27 28 15.93 2,404 146
28 29 16.53 3,941 602
29 30 15.72 2,942 380
30 31 14.89 3,517 404
31 32 19.90 5,210 1,051
32 33 25.00 6,680 1,834
33 34 19.81 5,297 1,442
34 35 23.16 10,000 2,294
35 36 25.00 9,154 2,192
36 37 12.02 3,551 836
37 38 5.11 1,560 443
38 39 10.15 3,427 1,040
Average Grade 16.73 4,599 980
Metres 13

Tiros Air-Core Hole - AC-TIR-011

FROM TO TiO2% TREOppm NdPrOxide
11
12
12
13
16.66 2,354 371
15.30 2,841 462
13 14 19.47 2,135 334
14 15 12.65 1,639 226
15 16 14.10 4,894 669
16 17 20.84 6,729 1,526
17 18 25.00 11,611 2,368
18 19 21.45 6,699 1,314
19 20 23.87 6,749 1,315
20 21 24.12 8,621 1,622
21 22 20.34 5,049 1,085
22 23 13.45 3,476 580
23 24 7.08 1,280 210
24 25 9.08 1,299 204
25 26 11.80 5,580 630
26 27 14.83 4,201 819
27 28 13.78 3,752 531
28 29 18.39 3,863 768
29 30 16.86 5,568 1,221
30 31 15.24 7,002 1,446
31 32 15.69 8,158 2,079
32 33 20.46 6,704 1,821
33 34 14.63 6,195 1,560
34 35 13.93 3,408 840
35 36 12.97 2,946 674
36 37 16.42 2,763 635
37 38 16.42 2,308 562
38 39 16.23 2,856 722
39 40 15.33 3,362 868
40 41 11.69 3,017 753
41 42 16.77 2,341 563
42 43 18.69 3,011 735
43 44 20.33 3,265 816
44 45 20.31 2,924 698
45 46 17.21 2,668 590
46 47 17.35 2,958 634
47 48 19.35 3,085 661
48 49 17.62 3,401 884
49 50 12.68 3,799 976
51 52 12.23 2,550 427
52 53 18.65 2,935 506
50 51 - 114 2- .65 2,863 676
Average Grade 16.47 4,116 866
Tiros Air-Core Hole - AC-TIR-012
FROM TO TiO2% TREOppm NdPrOxide
51 52 8.34 1,154 198
52 53 11.14 2,427 446
53 54 18.97 8,031 1,591
54 55 14.55 4,965 942
55 56 22.25 8,874 1,708
56 57 20.33 6,793 1,350
57 58 19.02 5,824 1,233
58 59 19.50 5,931 1,340
59 60 19.94 5,690 1,413
Average Grade 17.12 5,521 1,136
Metres 9
Tiros Air Core Hole - AC-TIR-0013
FROM TO TiO2% TREOppm NdPrOxide
29 30 8.08 2,891 678
30 31 8.30 3,483 787
31 32 9.19 3,088 710
32 33 9.52 3,072 699
33 34 9.40 2,585 590
34 35 8.56 2,573 604
35 36 8.39 2,362 543
Average Grade 8.78 2,865 659
Metres 7
Tiros Aircore Hole - AC-TIR-0014
FROM TO TiO2% TREOppm NdPrOxide
31 32 10.79 1,220 203
32 33 9.78 1,150 188
33 34 10.17 1,597 277
34 35 9.48 6,547 1,472
Average Grade 10.06 2,629 535
Metres 4
Tiros Aircore Hole - AC-TIR-0018
FROM TO TiO2% TREOppm NdPrOxide
22 23 7.78 1,635 356
23 24 8.33 2,111 458
24 25 8.39 2,509 417
25 26 10.58 3,145 504
26 27 12.88 4,676 577
27 28 11.68 4,621 790
28 29 12.00 5,154 820
29 30 25.00 9,530 2,148
30 31 23.49 8,070 1,968
31 32 20.39 6,842 1,870
32 33 16.24 5,970 1,604
34 35 9.59 2,931 698
35 36 6.99 2,520 622
36 37 7.10 4,275 630
37 38 7.49 2,517 686
38 39 10.84 4,127 1,083
39 40 10.40 4,604 1,247
40 41 8.93 3,977 1,100
41 42 6.42 2,818 788
Average Grade 11.82 4,317 967
Metres 20
Tiros Aire Core Hole - AC-TIR-0021
FROM TO TiO2% TREOppm NdPrOxide
29 30 8.18 842 142
30 31 7.05 845 147
31 32 12.90 5,296 835
32 33 18.93 5,424 907
33 34 14.50 4,539 765
34 35 17.64 7,817 1,631
35 36 11.19 3,565 658
36 37 10.28 3,911 804
37 38 14.50 3,822 870
38 39 8.39 4,429 1,005
40 41 10.58 3,767 920
41 42 13.92 6,728 1,739
42 43 9.61 5,440 1,425
Average Grade 12.13 4,340 911
Metres 14
Tiros Aircore Hole - AC-TIR-0022
FROM TO TiO2% TREOppm NdPrOxide
23 24 3.68 1,160 233
24 25 6.67 1,128 202
25 26 8.57 1,034 172
26 27 8.69 1,342 233
27 28 7.90 1,538 277
28 29 13.33 1,804 309
29 30 14.88 2,662 463
30 31 14.68 4,484 588
31 32 22.47 8,939 2,068
32 33 16.18 5,813 1,305
33 34 14.37 5,224 1,299
34 35 15.38 5,827 1,435
35 36 7.36 4,539 1,062
36 37 7.75 4,498 1,173
37 38 12.26 7,201 2,074
38 39 10.70 6,927 1,575
39 40 6.26 2,903 679
40 41 8.47 3,954 895
41 42 8.77 4,279 1,240
42 43 7.90 4,276 1,232
43 44 8.70 5,141 1,563
44 45 7.32 6,503 1,797
45 46 10.92 4,150 1,116
46 47 7.70 4,108 992
47 48 10.87 5,757 1,471
48 49 8.28 5,247 1,353
49 50 11.32 5,430 1,374
50 51 14.97 5,219 1,207
51 52 0.09 23 9
55 56 8.78 2,883 643
56 57 13.74 4,120 960
57 58 12.11 3,744 861
Average Grade 10.35 4,120 996
Metres 35
Tiros Airecore Hole - AC-TIR-0023
FROM TO TiO2% TREOppm NdPrOxide
29 30 8.80 1,174 269
30 31 14.81 1,436 264
31 32 15.89 3,314 639
32 33 13.11 3,805 741
33 34 14.38 3,045 550
34 35 14.15 4,681 701
35 36 16.93 6,936 1,453
36 37 25.00 12,309 2,303
37 38 25.00 10,789 2,343
38 39 22.96 7,432 1,613
39 40 9.89 3,646 845
40 41 9.21 3,697 912
41 42 10.44 5,000 1,430
42 43 9.91 3,559 1,099
43 44 13.40 5,337 1,252
44 45 7.75 4,956 1,288
45 46 8.66 5,124 1,161
46 47 10.66 5,059 1,166
47 48 8.73 3,680 809
48 49 9.88 4,060 899
49 50 11.43 3,891 884
50 51 10.61 4,144 891
51 52 9.57 3,725 799
52 53 14.14 4,710 1,111
53 54 8.43 2,951 690
54 55 9.98 3,178 754
55 56 10.21 3,052 710
56 57 12.85 3,691 771
Average Grade 12.74 4,585 1,012
Metres 28
Tiros Aircore Hole - AC-TIR-0020
FROM TO TiO2% TREOppm NdPrOxide
13 14 11.49 1,513 208
14 15 15.66 2,946 451
15 16 12.53 2,032 325
16 17 12.59 3,887 585
17 18 14.39 3,949 626
18 19 12.28 3,271 452
19 20 14.09 4,649 867
20 21 17.70 7,697 1,986
21 22 18.44 8,588 1,984
22 23 25.00 11,987 2,884
23 24 24.22 10,949 2,796
24 25 22.07 10,160 2,605
25 26 5.55 2,652 653
26 27 6.65 2,650 661
33 34 6.63 1,782 469
34 35 7.69 3,364 956
35 36 11.83 6,359 1,995
36 37 10.76 5,968 1,612
37 38 6.74 3,277 778
38 39 9.14 4,403 994
39 40 10.15 3,587 828
40 41 9.17 2,879 654
41 42 7.67 2,493 581
42 43 8.58 2,535 589
43 44 10.31 2,928 690
44 45 8.71 2,370 547
45 46 8.27 2,493 578
46 47 11.46 3,121 730
47 48 9.10 2,594 612
48 49 12.53 3,524 850
49 50 8.42 2,182 522
50 51 12.33 3,311 753
51 52 10.12 2,458 571
52 53 11.05 2,637 596
53 54 11.17 3,026 719
Average Grade 11.84 4,121 963
Metres 41
Tiros Air Core Hole - AC-TIR-0024
FROM TO TiO2% TREOppm NdPrOxide
40 41 8.71 4,417 974
41 42 12.88 1,889 397
42 43 13.87 3,502 742
43 44 21.76 5,666 1,210
44 45 17.75 9,267 2,137
45 46 25.00 7,817 1,637
46 47 25.00 10,173 2,427
47 48 25.00 15,152 3,626
48 49 25.00 17,775 4,368
49 50 25.00 16,960 3,960
50 51 22.76 9,088 2,058
51 52 18.65 6,764 1,532
52 53 23.57 8,365 1,951
53 54 12.49 4,472 996
54 55 9.43 3,240 726
55 56 12.49 2,901 707
56 57 17.33 4,131 1,044
57 58 9.11 3,054 729
58 59 14.83 4,366 994
59 60 16.31 4,708 1,127
60 61 15.03 5,386 1,131
61 62 17.81 5,600 1,224
62 63 12.58 4,210 911
63 64 9.16 3,663 829
64 65 13.08 6,030 1,487
65 66 13.03 4,846 1,231
66 67 13.65 5,866 1,319
67 68 14.96 7,281 1,815
68 69 13.06 5,583 1,487
69 70 16.59 5,678 1,468
70 71 14.49 5,475 1,489
71 72 19.83 5,704 1,437
72 73 19.19 5,286 1,290
73 74 16.52 5,268 1,319
74 75 18.78 5,769 1,446
75 76 23.30 6,343 1,548
76 77 24.83 7,055 1,685
77 78 20.36 6,082 1,470
Average Grade 17.19 6,443 1,524
Metres 38
Tiros Auger Hole - FT-01
FROM TO TiO2% TREOppm NdPrOxide
0 1 16.86 4,215 566
1 2 19.83 4,673 570
2 3 20.70 4,208 486
3 4 20.09 4,422 501
4 5 20.89 3,931 470
5 6 25.00 3,686 416
Average Grade 20.56 4,189 501
Metres 6


Tiros Auger Hole - FT-02
FROM TO TiO2% TREOppm NdPrOxide
0 1 12.64 5,617 544
1 2 15.91 4,960 580
2 3 14.01 4,597 632
3 4 14.28 4,623 508
4 5 15.96 4,293 745
5 6 14.39 4,648 777
6 7 14.10 4,415 924
7 8 13.77 4,615 972
8 9 18.05 4,713 1,016
9 10 16.78 5,017 1,175
10 11 18.02 10,283 3,745
Average Grade 15.26 5,253 1,056
Metres 11


Tiros Auger Hole - FT-03
FROM TO TiO2% TREOppm NdPrOxide
0 1 15.04 3,251 811
1 2 17.80 6,675 2,153
2 3 21.43 4,645 1,051
3 4 18.48 4,779 1,261
4 5 10.67 2,999 805
5 6 6.78 1,997 539
Average Grade 15.03 4,058 1,103
Metres 6


Tiros Auger Hole - FT-04
FROM TO TiO2% TREOppm NdPrOxide
3 4 6.84 1,220 83
4 5 15.43 3,125 383
5 6 18.20 3,476 372
6 7 19.83 3,581 445
7 8 14.17 3,818 507
8 9 25.00 10,070 2,203
9 10 22.13 9,796 1,833
10 11 24.51 9,711 2,322
11 12 25.00 8,991 1,930
12 13 25.00 10,161 2,471
13 14 25.00 10,166 2,424
14 15 11.84 6,272 992
Average Grade 19.41 6,699 1,330
Metres 12


Tiros Auger Hole - FT-05
FROM TO TiO2% TREOppm NdPrOxide
2 3 13.98 4,547 895
3 4 11.30 3,972 954
4 5 10.56 4,326 1,008
5 6 8.95 2,640 612
6 7 11.98 3,140 717
7 8 10.28 2,732 627
8 9 9.41 2,827 606
Average Grade 10.92 3,455 774
Metres 7


Tiros Auger Hole - FT-07
FROM TO TiO2% TREOppm NdPrOxide
0 1
12.22 4,065 907
1 2
9.42 3,155 697
Average Grade 10.82 3,610 802
Metres 2


Tiros Auger Hole - FT-09

FROM TO TiO2% TREOppm NdPrOxide
3 4 7.08 1,932 263
4 5 12.82 4,244 524
5 6 18.35 4,943 690
6 7 25.00 10,397 1,972
7 8 23.01 10,340 1,687
8 9 20.90 6,127 1,466
9 10 11.11 3,606 874
10 11 9.97 4,552 1,204
Average Grade 16.03 5,768 1,085
Metres 8


Tiros Auger Hole - FT-10
FROM TO TiO2% TREOppm NdPrOxide
7 8 7.26 2,374 145
8 9 9.84 2,275 280
9 10 9.18 4,779 324
Average Grade 8.76 3,143 250
Metres 3


Tiros Auger Hole - FT-11
FROM TO TiO2% TREOppm NdPrOxide
0 1 16.69 5,234 934
1 2 9.90 5,035 1,211
2 3 10.43 5,652 1,573
3 4 10.93 7,709 3,173
4 5 10.68 6,651 2,183
5 6 10.38 6,548 1,956
6 7 10.73 7,846 1,933
7 8 8.70 9,536 3,380
8 9 8.73 9,026 2,937
9 10 10.40 9,068 3,108
10 10.5 7.59 6,682 2,051
Average Grade 10.47 7,181 2,222
Metres 10.5

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