Penelope Project
- Project Size: 3,170 ha over 2 Mineral Rights
- Project Location: Northeast of Belo Horizonte, near the city of Serra Azul de Minas.
- Commodities: REEs & Tantalum
PROJECT SUMMARY: The Penelope REE Project in Minas Gerais, Brazil, presents an attractive early-stage opportunity in a highly prospective region known for emerging ionic adsorption clay (IAC) and hard-rock REE potential.
Penelope is in a premier Brazilian jurisdiction known for emerging IAC and hard-rock REE potential as well as established infrastructure and streamlined permitting.
Geology and Mineralization
The pegmatites on the Penelope project are hosted in the Archean-aged Serra Negra Formation, composed of schists, gneisses, and quartzites. They intrude concordantly along the schist stratification, often without surface exposure.
Soil sampling across the property confirms consistent anomalies averaging 230ppm Total REE. The higher-grade Eleona Hard-Rock Target averaged 1,555ppm Total REE. Over 10,000 ppm Ta was returned from a grab sample on the project.
Next Steps
- Auger Drilling: Test depth of lateritic/saprolitic horizons for IAC potential
- Desorption Testing: Confirm ion-exchangeable REE fractions
- Trenching: Assess volume and continuity at Eleona hard-rock target
- Delineation: Advanced mapping to define the scope of the Tantalum (Ta) zones