St George Mining establishes maiden mineral resource estimate for Araxá high-grade niobium project in Brazil

WA critical minerals explorer St George Mining has established a maiden mineral resource estimate for its Araxá high-grade niobium project in Brazil. St George told the Australian Securities Exchange on Wednesday that Araxá had 41.2 million tonnes at 0.68 per cent for 280,000 tonnes of niobium oxide. The company said there was also 40.6Mt at 4.13 per cent for 1.7Mt of total rare earth oxide. The bulk of both estimates were in the inferred category — 31.93Mt for the niobium oxide and 31.37Mt for the rare earth oxide. High-value rare earth elements such as neodymium, praseodymium, dysprosium, and terbium comprised 19 per cent of the total rare earth oxide measured resource estimate. St George said all of the resource was constrained within the weathered profile at Araxá, with 95.8 per cent within 100m of the surface. The company said the mineralisation was free-digging, supporting the potential for low-cost, open-pit mining. St George said there was significant potential for expansion of the resource, and drilling was planned this year to convert inferred resources to a higher-confidence category to further support ongoing development studies for a potential mining operation. Executive chair John Prineas said the Araxá MRE firmly established St George as an important player in the global niobium and rare earths sector. “Drilling .. . . has intersected phenomenal grades exceeding 80,000 parts per million niobium oxide — or 8 per cent — and around 330,000ppm or 33 per cent total rare earth oxide,” he said. “It is no wonder that with these drill results the resource estimate now defined at the project also represents among the highest grade niobium and rare earth deposits in the world today. “Notably, mineralisation remains open in all directions and at depth, presenting significant upside potential for resource expansion. “The delivery of the JORC MRE marks a further significant de-risking milestone for the project by providing a strong foundation for permitting, mine planning and economic assessments and ensuring our Araxá project remains at the front of the next generation of potential niobium mining operations. “We have already attracted a global leader in EPC+F contracts to collaborate with St George on project development, which underscores the attractive near-term development opportunity at Araxá. “The project’s enviable location in a region with a long history of commercial niobium production, access to existing infrastructure, and availability of an experienced workforce strongly support our aim to accelerate development at Araxá and safely and sustainably unlock its world-class potential.” St George completed its acquisition of Araxá in February after first announcing its move at last year’s Diggers & Dealers Mining Forum in Kalgoorlie-Boulder. At the time, Mr Prineas said the company was not turning its back on its suite of nickel, lithium and copper projects in WA, however niobium was a bright spot in the “tough” critical minerals space, and comprehensive exploration had already been done at Araxá.