St George Mining Limited (ASX:SGQ)

St George Mining Limited announced further assay results from its drilling campaign at the Araxá Rare Earths and Niobium Project in Minas Gerais, Brazil. The second diamond drill hole, AXDD002, intersected a large zone of high-grade rare earths and niobium mineralisation, extending the known resource area by 150 meters west of the current Mineral Resource Estimate. The hole revealed 87.7 meters of mineralisation near the surface, with significant concentrations of Total Rare Earth Oxides (TREO) and niobium oxide. These findings confirm the potential for significant resource growth and reinforce the project’s status as a major source of rare earth elements and niobium, with a high proportion of magnet rare earth oxides. The Araxá Project, wholly owned by St George Mining, represents the largest carbonatite-hosted REE resource in South America and the second-highest grade REE resource in the Western world. Further drill results and mineralogical analyses are anticipated to further delineate the resource, supporting St George’s efforts to establish a new supply chain for rare earths outside of China.