お知らせ • Jun 12
Libra Energy Materials Inc. Reports Initial Assays from Maiden Auger Drill Program At Penelope Project in Brazil
Libra Energy Materials Inc. reported initial assays from its maiden auger drill program at its 100%-owned Penelope Project in Minas Gerais, Brazil. The first six holes returned consistent grades near surface, including multiple intervals exceeding 1,000 ppm total rare earth oxides (TREO) such as 2.0 metres at 2,033 ppm TREO, underscoring the potential for robust rare earth elements (REE) enrichment. The initial phase is focused on the high-priority Elena, Gaia, and Nice targets, where previous sampling returned grades of up to 3,103 ppm total REEs. The auger program has now been completed, with all 22 holes drilled. Assay results have been received for the first seven holes, and results for Holes PLE-AD-008 through PLE-AD-022 remain pending. The Penelope Project is located in the mining-friendly jurisdiction of Minas Gerais, Brazil. The Project area hosts multiple NYF-type (Niobium-Yttrium-Fluorine) pegmatites and associated A-type granites beneath a thick, REE-enriched regolith profile. Previous prospecting programs have confirmed the presence of high-grade critical minerals in the underlying pegmatites, with individual samples returning up to 8,780 ppm Niobium (Nb), 10,900 ppm Tantalum (Ta), and 3,103 ppm total REEs. Following up on these results, Libra designed a detailed mechanical auger drilling program to develop a three-dimensional understanding of potential high-grade, IAC style (Ionic Absorption Clay) REE mineralization. Early results from the ongoing auger campaign reveal significant REE enrichment within the regolith, consistent with weathering processes favourable for the development of ionic absorption clay (IAC) style mineralization. The first six holes returned a series of high-grade intercepts near the Elena target, providing initial confirmation of local continuity and the robustness of REE mineralization in the near-surface environment, while the seventh hole returned no significant assays. Highlight results include: 3.0 m of 854 ppm TREO (PLE-AD-001), 4.0 m of 1,173 ppm TREO (PLE-AD-002), 2.0 m of 43 grams per ton (g/t) Gallium (Ga) at 5 m depth (PLE-AD-002), 9.0 m of 982 ppm TREO, including 2.0 m of 2,033 ppm TREO (PLE-AD-003), 1.0 m of 45 g/t Ga at surface (PLE-AD-003), 3.0 m of 1,025 ppm TREO (PLE-AD-004), 2.0 m of 1,021 ppm TREO (PLE-AD-005), 7.0 m of 1,193 ppm TREO, including 2.0 m of 1,953 ppm TREO (PLE-AD-006). Importantly, all these intercepts occur within 20 m of surface and contain a favourable proportion of magnet rare earth oxides (MREO), as summarized in Table 1. Enrichment in the key magnet REEs (Nd, Pr, Dy, Tb) represents a positive early indicator for potential value in an IAC-style development scenario. The early auger results collectively point to a well-developed regolith profile enriched in both light and magnet rare earth elements, consistent with weathering of the underlying NYF-type pegmatites. All holes were shallow, generally less than 20 metres in depth, which means much of the saprolite horizon, where REEs are typically concentrated, remains untested. The combination of near-surface grades, favourable MREO proportions, and local continuity across multiple holes suggests a coherent mineralized horizon. These characteristics align with the geological features observed in emerging IAC-style REE systems in Brazil and globally, reinforcing the potential for Penelope to host a meaningful regolith-hosted REE target. A selection of representative high-grade samples from the auger program will be submitted for ammonium sulfate leach testing to evaluate the exchangeable REE content. As an additional option, Libra may also consider a shallow RC drilling program to test the saprolite horizon, where REEs are typically concentrated. There can be no assurance that future exploration programs will confirm mineralization and/or economically recoverable mineral resources. A total of 132 samples, including 121 regolith samples and 11 blanks and standards, were submitted to SGS Geosol in Vespasiano, Minas Gerais, an ISO/IEC 17025 accredited laboratory independent of the Company. Samples were crushed to 75% passing 3 millimetres (mm) and pulverized to 95% passing 150 micrometres (µm) prior to analysis. Total rare earth oxides (TREO) were determined by sodium peroxide fusion followed by ICP-MS (method ICM90A). Certified reference materials (ITAK 713, 714), blanks, and field duplicates were inserted into the sample stream at regular intervals and reviewed for performance before the release of results. The QA/QC program has been designed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Exploration Best Practice Guidelines. The procedures implemented are considered appropriate, accurate, and reliable for this style of mineralization, ensuring the integrity and quality of the sample data. The scientific and technical information in this news release has been reviewed and approved by Benjamin Kuzmich, P.Geo., VP Exploration of Libra. Ben Kuzmich is a "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.