St George Mining (ASX: SGQ) has confirmed a major new rare earths discovery at its Araxá Project in Brazil — just one kilometre from its existing JORC resource.
The company says shallow auger drilling across 22 holes has uncovered widespread, high-grade mineralisation — including a standout intercept of 13.5 metres at 12.34% total rare earth oxides from just 0.5 metres depth.
The results also revealed exceptionally high levels of neodymium and praseodymium — key components in electric vehicles and wind turbines.
Importantly, many of the auger holes ended in mineralisation, pointing to strong potential at depth. St George has now launched follow-up RC and diamond drilling, with five rigs currently active on site.
Executive Chairman John Prineas said: “With an existing JORC-compliant rare earths resource that is already world-class, we are excited by the growth potential that this new discovery highlights.”
The company is also eyeing further upside toward the centre of the carbonatite, where previous drilling has confirmed high-grade niobium.
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