Viridis Mining Expands Colossus Project with Strategic Land Acquisition

Viridis Mining and Minerals Limited (ASX: VMM) has significantly strengthened its position in Brazil’s Poços de Caldas Alkaline Complex through an addendum to the Colossus binding agreement, securing an additional 2,503.6 hectares of mining rights. This expansion increases the company’s total landholding in the district to 23,468 hectares, building on its already defined 493Mt mineral resource. Key developments include a 46% expansion of the Northern Concessions, where Dy-Tb oxide grades exceeded 500ppm, and a 144% expansion of the Tamoyos District, hosting Colossus’ highest-grade deposits. Viridis also secured government backing, including a Memorandum of Understanding with the Municipality of Poços de Caldas and industrial land for its planned Centre for Rare Earths Innovation, Technology, and Recycling. These milestones, alongside endorsements from Brazil’s leading institutions, de-risk approvals and enhance mine plan flexibility, reinforcing Colossus’ potential as a globally significant rare earths project.

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