Aclara Resources Inc (TSX:ARA, OTC:ARAAF) announced that it has contracted global multidisciplinary consultancy firm Hatch to complete the prefeasibility study (PFS) for the Carina Module rare earths project in Brazil.
The company said that the PFS will be an internal study to identify the optimal project configuration to serve as a basis for the upcoming feasibility study.
It is expected that the PFS will be completed in the second half of 2025, to be immediately followed by the feasibility study, which is expected to be completed in the second half of 2026.
"We are thrilled to be working with such an established and highly regarded engineering company during this next important phase of the development of our Carina rare earths deposit in Brazil," Aclara chief operating officer Barry Murphy commented.
"Hatch has a reputation for designing cost-effective, and fit-for-purpose mine and process facilities and bring a wealth of local project development knowledge due to their long-standing presence in Brazil."
Shares of Aclara had gained 5.6% on Monday morning in Toronto.
Aclara is focused on heavy rare earth mineral resources hosted in ion-adsorption clay deposits. Its projects include the Penco Module in the Bio-Bio Region of Chile and the Carina Module in the State of Goiás, Brazil.
--Updates with share price--