Turvolandia rare earths drill programme advances at Canamera’s Brazil project

Core Insights - Canamera Energy Metals has completed approximately one-third of its planned drilling in the Turvolandia rare earths project in Brazil, which is a significant milestone for the company [1][5] - The drill program aims to evaluate the thickness and continuity of rare earth element mineralization across three target zones [2][5] Group 1: Project Details - The Turvolandia drill program includes around 1,000 meters of drilling, with 48–54 vertical auger drill-holes planned to depths of 20–25 meters [1][2] - The project is located in southern Minas Gerais, directly east of the Poços de Caldas alkaline complex, which is a 30 km² intrusive system [2][3] - Canamera has an option to acquire 100% ownership of the Turvolândia and São Sepé rare earth ionic clay projects through staged cash and share payments [3][4] Group 2: Financial and Operational Aspects - If the acquisition option is exercised, the vendors will retain a 1% net smelter returns royalty on production, with the possibility for Canamera to buy back half for $500,000 [4] - Additional cash payments will be required upon achieving specific technical milestones, including the release of a mineral resource estimate and a feasibility study [4] Group 3: Strategic Importance - The CEO of Canamera highlighted the geopolitical significance of Brazil as a secure source for rare earth elements amid global supply chain pressures [5]