Each one in plain English, with the numbers worked through for a shareholder.
22 Jan 2025resource reserve update▲ GoodMajor
Colossus resource upgraded 140% to 493Mt at 2,508ppm TREO (601ppm magnet rare earths), up from the 201Mt maiden estimate of June 2024. Includes 329Mt measured and indicated, and a 106Mt zone above 4,000ppm. Scoping Study to follow.
4 Dec 2024drilling result▲ Good
Final batch of Southern Complex drilling assays, including hole CS-RC-0541: 50m at 8,462ppm TREO from surface, the best at Colossus so far. All grid assays are now in for the pending resource upgrade; the environmental impact assessment is near submission.
30 Oct 2024drilling result▲ Good
Reverse-circulation drilling at Cupim South returned thick, high-grade intercepts, e.g. 50m at 2,999ppm TREO from surface and 14m at 6,644ppm. 75% of assays are in; an updated resource and Scoping Study follow. Cupim South maiden carbonate testing has begun.
28 Aug 2024drilling result▲ Good
Cupim South auger hole CS-AG-0085 returned 21m at 15,339ppm TREO from surface, and maiden Centro Sul auger drilling showed grades up to 6,666ppm. Cupim South now holds mining licence status; 210+ holes await assays. Maiden MREC production said to be near.
30 July 2024drilling result▲ Good
Step-out auger drilling next to the Cupim South resource found a continuous zone above 4,000ppm TREO, e.g. CS-AG-0173 9m at 6,551ppm from surface. Company says current high-grade feed is 47Mt at 4,000ppm and may grow; no resource change yet.
12 June 2024drilling result▲ Good
Step-out auger drilling outside the Cupim South resource area found zones up to 7,000ppm+ TREO (e.g. CS-AG-153 8m at 7,856ppm), with follow-up RC drilling started. Infill results at Northern Concessions also strong. Supports possible future resource growth; no resource change yet.
4 June 2024resource reserve update▲ GoodMajor
Maiden JORC resource for Colossus: 201Mt at 2,590ppm TREO (1,000ppm cut-off), 26% magnet rare earths, including 62Mt Indicated. Cupim South holds 28Mt at 3,061ppm. Resource covers only about 7% of the project area. This delivers the long-awaited Q2 2024 resource.
8 May 2024drilling result▲ Good
Seventh Colossus assay batch: scout auger drilling found mineralisation on 8 previously untested concessions, e.g. FC-AG-002 13m at 7,632ppm TREO. Initial drilling on the Cupim South Extension doubled the mineralised footprint. Maiden resource still guided to June 2024, Scoping Study Q3 2024.
10 Apr 2024drilling result▲ Good
Sixth Colossus assay batch: Tamoyo hole TM-DDH-005 returned 15m at 6,153ppm TREO with a peak of 27,087ppm, the highest grade in the complex. Two new discoveries (Tamoyo, Centro Sul) were reported; Cupim South hole CS-RC-095 hit 81m at 2,236ppm.
12 Mar 2024drilling result▲ Good
Fifth Colossus assay batch: auger hole CS-AG-002 returned 10m at 11,850ppm TREO, peaking at 24,894ppm, and CDP-DDH-010 peaked at 25,075ppm, the highest single sample at Colossus. Over 110 holes still await assays; results feed the maiden resource.
1 Feb 2024drilling result▲ GoodMajor
Fourth Colossus assay batch: FZ-RC-29 returned 5.5m at 14,896ppm TREO, peaking at 23,556ppm at 1-2m depth, which the company calls the highest surface grade in the complex. A new Ribeirão discovery was also reported; over 100 holes still await assays.
19 Jan 2024drilling progress report▲ GoodMajor
Phase I and II drilling nearly done; hole CS-DDH-007 hit 103m of clay at Cupim South. BNA Mining Solutions was contracted to prepare the maiden JORC resource, with completion anticipated in Q2 2024. Samples have gone to ANSTO for testing.
3 Jan 2024drilling result▲ GoodMajor
Third Colossus batch finds higher grades in a new western area, Capão da Onça: auger hole CDO-AG-071 7m at 8,277ppm TREO. Fazenda diamond hole FZ-DDH-006 returned 33.5m at 3,091ppm. Over 100 auger, 34 RC and 19 diamond holes still await assays.
20 Dec 2023drilling result▲ Good
Further Smoky assays lift halloysite results to 13m at 86.1% from 4m in VS23-06, with a peak of 95.1% over 1m. VS23-07 gave 9m at 79.2%. This builds on October's results; samples above and below are still awaiting assays.
7 Dec 2023drilling result▲ GoodMajor
Second Colossus assay batch confirms more thick clay: CJ-DDH-001 21.5m at 3,195ppm TREO, FZ-DDH-004 15m at 3,559ppm, CT-DDH-001 40m at 2,352ppm. Carijo, Central and Caminho Das Pedras are new discoveries; over 140 holes still await assays.
20 Nov 2023drilling result▲ GoodMajor
First Colossus assays confirm thick, high-grade clay: CS-DDH-003 returned 46m at 3,285ppm TREO, and CS-DDH-001 24m at 4,573ppm. Diamond holes average 26m thick at 3,086ppm. This resolves the awaited-assays thread; over 170 holes remain pending.
20 Oct 2023drilling result▲ GoodMajor
First Colossus diamond holes hit thick clay: 87m at Cupim South, about 50m at Carijo and 47m at Fazenda. These are geology intercepts, not assays; 120 holes are done and rare earth grades are awaited. Clay thickness is a positive sign for the planned maiden resource.
12 Oct 2023drilling result▲ GoodMajor
Fuller Smoky assays show thicker halloysite: 8m at 74.6% from 10m in VS23-06 and 7m at 78.7% from 3m in VS23-07. This extends the earlier 63% over 4m result. More samples are still awaiting analysis.
3 Oct 2023drilling progress report▲ Good
Colossus drilling expanded to Phase II with diamond and air-core rigs, now five rigs running at once, starting at Cupim South and Sien. The aim is to test clay depth beyond the 20m auger limit, which would support a maiden resource.
14 Sept 2023drilling spud▲ GoodMajor
Maiden drilling has started at Colossus, with three auger rigs run by HIDROEX working all four Phase I prospects at once. First holes go into Carijo. This follows the 4 September contract and the 13 September completion of the acquisition.
13 Sept 2023farm in farm out completion▲ GoodMajor
Colossus acquisition completed after shareholders approved all resolutions on 12 September 2023. The A$2.2m placement, cornerstoned by Ionic Rare Earths with A$600k, is reported complete and funds the maiden exploration program.
29 Aug 2023drilling result▲ GoodMajor
Surface grab samples at Colossus show rare earths can be recovered by a simple ammonium sulfate wash, averaging 46% for neodymium. Best sample PC-10 graded 2,753ppm TREO. These are only three leached samples, not drilling.
14 July 2023farm in farm out completion▲ GoodMajor
Viridis has met the A$1.5m Stage 1 spend and now holds 51% of the South Kitikmeot gold project, ahead of the 31 Dec 2024 deadline. Stage 2 needs a further A$2m by 31 Dec 2027 to lift its interest to 66%.
3 July 2023drilling result▲ GoodMajor
First Smoky drilling assays confirm halloysite: 4m at 63% from 7m in VS23-07 (including 1m at 85.3%) and 2m at 85.4% in VS23-06. Only ten selected samples tested so far. Follows March surface results.
6 June 2023drilling result▲ GoodMajor
First Esker Lake assays confirm gold, best 13.02m at 3.14g/t from 79m and 9.00m at 2.24g/t from 69m (EL-23-005). Supports the historic intercepts; resolves the awaited assay thread, though only some holes' results are highlighted.
29 May 2023drilling result● Neutral
Ground magnetic surveys at Gold Bugs, Bling and Esker 2 mapped iron formation at Gold Bugs and Esker 2, and two new linear features at Bling. Helps generate drill targets; Esker Lake assays still pending.
26 Apr 2023drilling result▲ GoodMajor
Further Poochera assays confirm halloysite, including 11.4% over 16m from 25m (VM22-039) and 6.3% over 12m (VM22-017), adding to March results. More results await lab capacity; Stage 2 drilling is expected later in 2023.
17 Apr 2023drilling progress report● Neutral
Maiden Esker Lake drilling finished with 7 holes, fewer than the up to 12 planned. Core shows visible sulphides, but these are not assays; ALS assays are expected June 2023. Geophysics at three properties done, results due mid-May.
3 Apr 2023drilling spud▲ GoodMajor
Maiden diamond drilling began at Esker Lake, South Kitikmeot: up to 12 holes and 1,000m to test historic gold intercepts (e.g. 3m at 11.7g/t). Geophysics also planned on the other six properties. Follows the March approvals.
20 Mar 2023drilling result▲ GoodMajor
Surface rock samples at Smoky returned halloysite, peaking at 36.6% in raw material (VK-094), the first confirmation at the site since 1980s quarrying. Drill samples are now at the James Hutton Institute for assay; this is surface sampling, not drilling.
