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Viridis claims ‘world record’ in rare earth recovery at Colossus

Viridis Mining & Minerals (ASX: VMM) said that it has achieved the highest overall bulk ionic recoveries globally, with rates as high as 67%, in the maiden bulk composite metallurgical testing of clays from its Colossus project in Minas Gerais, Brazil.

The company reports that the average recovery rates of critical magnetic rare earths – neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb) – at all four of its concessions have outperformed every publicly-known clay-hosted rare earth prospect and deposit globally that has conducted similar bulk tests.

Source: Viridis Mining & Minerals

Colossus consists of four concessions: the northern concessions, Cupim South, Capão da Onça, and Ribeirão.

The highest average recovery of neodymium and praseodymium, reaching 67%, was achieved at the Cupim South concession, with the northern concessions closely following at 63%.

Capão da Onça and Ribeirão also demonstrated significant Nd and Pr recoveries, averaging 59%.

For dysprosium and terbium, the northern concessions peaked at an average recovery of 65%. Cupim South yielded Dy and Tb recoveries averaging 53%, while Capão da Onça and Ribeirão reached 59% and 49%, respectively.

“This positions Colossus as one of the leading projects worldwide for Nd, Pr, Dy, and Tb recovery using simple, effective extraction,” said Viridis CEO Rafael Moreno.

“Our Northern Concessions continue to demonstrate why they remain the foundation for building Colossus into the premier ionic adsorption clay (‘IAC’) deposit globally; They sit on granted mining licenses and contain the highest grades of Heavy Rare Earths at the surface in the Poços De Caldas alkaline complex, now combined with the best average Dy and Tb ionic recoveries in the world.”

Shares of Viridis rose by 4.63% on Wednesday after the results were released. The company currently has a market capitalization of $44.2 million.

Source: MINING.COM – Read More