Magnum Mining and Exploration Limited Updates on Drilling Activities at REE Projects
Magnum Mining and Exploration Limited (ASX: MGU) has released an update on its ongoing drilling activities at the Palmares and Azimuth rare earth element (REE) projects in Brazil. Drilling operations recommenced on January 5, 2026, after a scheduled break during the Brazilian Recesso Period.
At the Palmares project, 15 reverse circulation (RC) drill holes have been completed at the Feirinha Prospect. To speed up progress, drilling operations will now run 24 hours a day. The first batch of collected samples is ready for dispatch to the laboratory for assaying, with results expected to be received by the end of January. These initial findings will help assess the potential of the Feirinha Prospect, which has previously delivered promising results, including trench samples with grades of up to 1.69% TREO, suggesting strong potential for a cost-effective REE discovery.
Meanwhile, at the Azimuth project, 13 auger holes have been drilled at the Piracanjuba prospect. A second auger rig will be mobilized to increase the pace of drilling. Both the Palmares and Azimuth projects are progressing within budget, with operations managed by Magnum’s skilled in-country team.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Magnum Mining and Exploration Limited Updates on Drilling Activities at REE Projects
Magnum Mining and Exploration Limited (ASX: MGU) has released an update on its ongoing drilling activities at the Palmares and Azimuth rare earth element (REE) projects in Brazil. Drilling operations recommenced on January 5, 2026, after a scheduled break during the Brazilian Recesso Period.
At the Palmares project, 15 reverse circulation (RC) drill holes have been completed at the Feirinha Prospect. To speed up progress, drilling operations will now run 24 hours a day. The first batch of collected samples is ready for dispatch to the laboratory for assaying, with results expected to be received by the end of January. These initial findings will help assess the potential of the Feirinha Prospect, which has previously delivered promising results, including trench samples with grades of up to 1.69% TREO, suggesting strong potential for a cost-effective REE discovery.
Meanwhile, at the Azimuth project, 13 auger holes have been drilled at the Piracanjuba prospect. A second auger rig will be mobilized to increase the pace of drilling. Both the Palmares and Azimuth projects are progressing within budget, with operations managed by Magnum’s skilled in-country team.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au