High-Grade Rare Earth Leach Testing Commences at Palmares Project.

Magnum Mining & Exploration Limited (ASX: MGU) has initiated leach testing on high-grade samples from its Palmares Rare Earth Element (REE) Project in Bahia State, Brazil. The testing, focused on tenement 871332/2020, aims to evaluate recovery rates and processing options before advancing to drilling. Previous trench assays from the Feirinha Prospect returned up to 1.69% TREO, while rock chip assays reached 1.31% TREO, highlighting enrichment in Nd, Pr, Dy, Tb, and Y – critical elements for permanent magnets used in EVs, wind turbines, and defence technologies.

Mapping has identified numerous G2 pegmatites averaging 0.40% TREO over a 1.3km strike, with several high-grade zones exceeding 0.5% TREO. Fifteen samples have been dispatched to ALS Laboratories, with results expected by the end of September. With Palmares covering 18 tenements (~348km²) and additional ground in the Azimuth Project (~1,201km²), Magnum holds one of the largest REE landholdings in Brazil, positioning the company for district-scale growth potential.

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