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Axel REE Limited (ASX:AXL)

ALERT: Price-sensitive ASX Announcement for AXL
Current share price for AXL : $0.065 -0.065 (-50%)+
Announcement
Release
17 Oct 2025 8:53AM
Price at Release
$0.130
Full Release
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Summary
Axel REE Limited has been granted three new exploration licences totaling approximately 867 hectares at the Caladão Project in Brazil, adjacent to their existing mineral resources. These licences, contiguous with Area A, are part of Axel's strategic expansion to enhance their rare earth elements (REE) and gallium resources. The company plans a 49-hole auger drilling program aimed at delineating gallium-rich laterite and REE-enriched weathering horizons, with subsequent diamond drilling to explore further mineralisation potential. The geological setting of these licences, over the Caladão Granite, is promising for REE and gallium mineralisation. The licences, initially held by Lobo Guara Mineracao e Representacao Eire, are in the process of being transferred to Axel, which will hold legal and beneficial rights to all metals and minerals except lithium. This expansion underscores Axel's ambition to become a leading REE-gallium explorer in Brazil.
Key Points
  • Three new exploration licences granted, totaling 867 hectares.
  • Licences are contiguous with Area A at Caladão Project, Brazil.
  • 49-hole auger drilling program set to commence.
  • Focus on delineating gallium-rich laterite and REE-enriched horizons.
  • Licences situated over Caladão Granite, promising for mineralisation.
  • Licences were initially held by Lobo Guara Mineracao e Representacao Eire.
  • Aim to expand REE and gallium resource base.
  • Part of strategic expansion to enhance strategic footprint.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.