# CR3: Annual Report to shareholders

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145690

Publisher: asx

Original announcement: 2026-09-29T22:15:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-29T23:36:45.603Z

Atlas analysis updated: 2026-09-29T23:36:45.603Z

- Company: Core Energy Minerals Limited

- Ticker: CR3

- Exchange: ASX

- Region: Unavailable

- Primary commodity: Uranium

- Secondary commodities: Rare earth elements, Magnetic rare earth oxides, Yttrium oxide

- Document categories: Drill results, Metallurgy, Agreement transaction, Capital raise

- Extracted: 2026-09-29 23:36:46 UTC

Narrative sentiment: 0.20 · Bullish

## Minestarters Atlas summary

Core Energy Minerals Limited's 2026 Annual Report details a year of active exploration and portfolio expansion across uranium and rare earth elements \(REE\) projects in Brazil, Namibia, and Australia. Key developments include the acquisition of the Itambe REE Project, positive early-stage REE drill and leach testwork results at Tunas, and maiden drilling at the Cummins Project yielding uranium and REE intercepts. Subsequent to the financial year, the company secured a significant earn-in agreement for the Nova JV Uranium Project in Namibia and completed a A$3 million placement to fund its exploration. The auditor's report, however, notes a material uncertainty regarding the company's ability to continue as a going concern.

Reasoning: The annual report summarizes a year of active exploration, project acquisitions, and capital raising, including a significant earn-in agreement for a Namibian uranium project and positive early-stage REE results. However, the auditor's going concern warning and lack of detailed QA/QC for drill results temper the overall positive outlook.

- Positive factor: Significant earn-in agreement for advanced uranium project in Namibia

- Positive factor: Acquisition of a new REE project from Rio Tinto

- Positive factor: Positive early-stage REE drill results and leach testwork indicating recoverability

- Positive factor: Strong historical uranium intercept at Nova JV relative to project average

- Positive factor: Successful capital raises to fund exploration activities

- Negative factor: Auditor's report highlights material uncertainty related to going concern

- Negative factor: Drill results lack QA/QC disclosure, limiting confidence in data quality

- Negative factor: All drill widths are apparent \(downhole\) only, with no true width disclosed

- Negative factor: Cut-off grades for drill interval compositing are not disclosed

- Negative factor: Metallurgical testwork is preliminary \(bench scale only\)

- Negative factor: Average REE recoveries from leach testwork are low

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 33

## Classification and evidence

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: The drill results sections do not explicitly mention QA/QC procedures, certified labs, or QP sign-offs for the new or historical results.

Evidence · text

> Initial auger drilling and sampling at Itambe was completed during the June 2026 quarter, confirming the Project’s strong exploration potential.

**Apparent Width Only**

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Why it applies: All reported drill intercepts are given as downhole widths, with no mention of true width or drill orientation to estimate true thickness.

Evidence · text

> 45m @ 222ppm eU3O8 from 120m \(TN253RC\)

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: The Nova JV uranium drill results are explicitly stated as 'Previous exploration by Deep Yellow and former JV partners' and reference prior ASX announcements from 2021 and 2023.

Evidence · text

> Previous exploration by Deep Yellow and former JV partners returned advanced drilling intercepts including: • 45m @ 222ppm eU3O8 from 120m \(TN253RC\)

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: The document does not state the cut-off grades used for compositing or reporting any of the drill intervals.

Evidence · text

> 5.6m @ 1,429ppm TREO from surface \(ITTR001\)

**Bench Scale Only**

Polarity: negative

Definition: Only preliminary bench tests completed — no locked-cycle or pilot work.

Why it applies: The metallurgical work is described as 'preliminary leach testwork', indicating it is at an early, bench-scale stage.

Evidence · text

> preliminary leach testwork on samples from Tunas supported the recoverability of rare earth mineralisation within the weathered profile under mild leaching conditions.

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: The Nova JV project is positioned adjacent to existing uranium tenements and within Namibia's premier uranium province, boasting world-class existing mines and development projects.

Evidence · text

> The Project lies adjacent to CR3’s 100% owned uranium exploration tenements, Gemsbok and Oryx, and together they form a regionally significant and strategic district-scale package of highly prospective uranium exploration ground in Namibia’s Erongo region, the country’s premier uranium province. The region boasts world-class existing mines and development projects including Husab, Rössing, Etango, Tumas and Langer Heinrich

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: The Tunas REE Project conducted a 'second phase of infill auger drilling' to confirm continuity.

Evidence · text

> Follow-up Phase 2 infill auger drilling commenced in April 2026.

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: The metallurgical testwork involves 'leach testwork' under 'mild leaching conditions', which is characteristic of heap leach or similar low-cost leaching processes for REE.

Evidence · text

> preliminary leach testwork on samples from Tunas supported the recoverability of rare earth mineralisation within the weathered profile under mild leaching conditions.

**Strong Intercept**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The 21m @ 886ppm eU3O8 intercept at Nova JV is significantly above the project's average grade of 392.6ppm and represents the best grade x metres result for the project in the RAG comparables.

Evidence · text

> 21m @ 886ppm eU3O8 from 199m \(TN258RC\)

**Multi-Domain Tested**

Polarity: positive

Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed.

Why it applies: 2 distinct composites were tested

## Extracted facts

Stored fact records: 28. Some facts used in scoring do not have a stored record.

## Drill Results (24)

### TN253RC

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-0)

Nova JV Uranium · uranium

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: TN253RC
- Project: Nova JV Uranium
- Commodity: uranium
- Region: namibia
- Reported Region: namibia
- Ticker: CR3

#### Geometry

- Grade: 222
- Grade Unit: ppm eU3O8
- Intercept: 45 m
- From: 120 m
- To: 165 m
- Intercept Depth: 120 m

#### Classification

- Sample Type: drill
- Group ID: TN253RC:120-165

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2021-08-05T00:00:00.000Z

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: This is a historical drill intercept from a previous operator, providing context for the Nova JV project but not representing new exploration success by Core Energy Minerals.

- Negative factor: Result is historical and not new information

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for this historical result

Evidence · text

> 45m @ 222ppm eU3O8 from 120m \(TN253RC\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### TN258RC

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-1)

Nova JV Uranium · uranium

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: TN258RC
- Project: Nova JV Uranium
- Commodity: uranium
- Region: namibia
- Reported Region: namibia
- Ticker: CR3

#### Geometry

- Grade: 886
- Grade Unit: ppm eU3O8
- Intercept: 21 m
- From: 199 m
- To: 220 m
- Intercept Depth: 199 m

#### Classification

- Sample Type: drill
- Group ID: TN258RC:199-220

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2021-08-05T00:00:00.000Z

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: This historical intercept represents a strong uranium grade and width for the project, aligning with the best results previously reported, indicating significant mineralization potential.

- Positive factor: High-grade uranium intercept relative to project average

- Positive factor: Best grade x metres for the project according to RAG comparables

- Negative factor: Result is historical and not new information

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for this historical result

Evidence · text

> 21m @ 886ppm eU3O8 from 199m \(TN258RC\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### TN258RC

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-2)

Nova JV Uranium · uranium

Historical result

Needs review: historical\_restatement

#### Identity

- Hole ID: TN258RC
- Project: Nova JV Uranium
- Commodity: uranium
- Region: namibia
- Reported Region: namibia
- Ticker: CR3

#### Geometry

- Grade: 251
- Grade Unit: ppm eU3O8
- Intercept: 27 m
- From: 224 m
- To: 251 m
- Intercept Depth: 224 m

#### Classification

- Sample Type: drill
- Group ID: TN258RC:224-251

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2023-12-28T00:00:00.000Z

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: This is a historical drill intercept from a previous operator, providing context for the Nova JV project but not representing new exploration success by Core Energy Minerals.

- Negative factor: Result is historical and not new information

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for this historical result

Evidence · text

> 27m @ 251ppm eU3O8 from 224m \(TN258RC\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### ITTR001

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-3)

Itambe Rare Earths · rare earth elements

#### Identity

- Hole ID: ITTR001
- Project: Itambe Rare Earths
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 1429
- Grade Unit: ppm TREO
- Intercept: 5.6 m
- From: 0 m
- To: 5.6 m
- Intercept Depth: 0 m

#### Classification

- Sample Type: drill
- Group ID: ITTR001:0-5.6

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Initial auger drilling at the newly acquired Itambe project returned a positive REE intercept, confirming exploration potential at an early stage.

- Positive factor: New drill result from initial auger drilling

- Positive factor: Good grade for early-stage REE exploration

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Early-stage reconnaissance drilling

Evidence · text

> 5.6m @ 1,429ppm TREO from surface \(ITTR001\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### ITTR002

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-4)

Itambe Rare Earths · rare earth elements

#### Identity

- Hole ID: ITTR002
- Project: Itambe Rare Earths
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 1546
- Grade Unit: ppm TREO
- Intercept: 2 m
- From: 0 m
- To: 2 m
- Intercept Depth: 0 m

#### Classification

- Sample Type: drill
- Group ID: ITTR002:0-2

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Initial auger drilling at the newly acquired Itambe project returned a positive REE intercept, confirming exploration potential at an early stage.

- Positive factor: New drill result from initial auger drilling

- Positive factor: Good grade for early-stage REE exploration

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Early-stage reconnaissance drilling

Evidence · text

> 2.0m @ 1,546ppm TREO from surface \(ITTR002\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### TNTR007

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-5)

Tunas REE · rare earth elements

#### Identity

- Hole ID: TNTR007
- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 1563
- Grade Unit: ppm TREO
- Intercept: 6.5 m
- From: 2 m
- To: 8.5 m
- Intercept Depth: 2 m

#### Classification

- Sample Type: drill
- Group ID: TNTR007:2-8.5

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Hand-auger sampling at Tunas confirmed the presence of REE mineralization with a good intercept, supporting the project's exploration potential.

- Positive factor: New drill result from hand-auger sampling

- Positive factor: Good grade for early-stage REE exploration

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Early-stage reconnaissance drilling

Evidence · text

> 6.5m @ 1,563ppm TREO from 2.0m \(TNTR007\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### TNTR008

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-6)

Tunas REE · rare earth elements

#### Identity

- Hole ID: TNTR008
- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 1031
- Grade Unit: ppm TREO
- Intercept: 5 m
- From: 3 m
- To: 8 m
- Intercept Depth: 3 m

#### Classification

- Sample Type: drill
- Group ID: TNTR008:3-8

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Hand-auger sampling at Tunas confirmed the presence of REE mineralization, supporting the project's exploration potential.

- Positive factor: New drill result from hand-auger sampling

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Early-stage reconnaissance drilling

Evidence · text

> 5.0m @ 1,031ppm TREO from 3.0m \(TNTR008\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### TNTR001

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-7)

Tunas REE · rare earth elements

#### Identity

- Hole ID: TNTR001
- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 1523
- Grade Unit: ppm TREO
- Intercept: 5 m
- From: 4 m
- To: 9 m
- Intercept Depth: 4 m

#### Classification

- Sample Type: drill
- Group ID: TNTR001:4-9

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Hand-auger sampling at Tunas confirmed the presence of REE mineralization with a good intercept, supporting the project's exploration potential.

- Positive factor: New drill result from hand-auger sampling

- Positive factor: Good grade for early-stage REE exploration

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Early-stage reconnaissance drilling

Evidence · text

> 5.0m @ 1,523ppm TREO from 4.0m \(TNTR001\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### TNTR004

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-8)

Tunas REE · rare earth elements

#### Identity

- Hole ID: TNTR004
- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 1822
- Grade Unit: ppm TREO
- Intercept: 1 m
- From: 1 m
- To: 2 m
- Intercept Depth: 1 m

#### Classification

- Sample Type: drill
- Group ID: TNTR004:1-2

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Hand-auger sampling at Tunas confirmed the presence of REE mineralization with a good grade over a narrow interval, supporting the project's exploration potential.

- Positive factor: New drill result from hand-auger sampling

- Positive factor: Good grade for early-stage REE exploration

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Narrow intercept length

Evidence · text

> 1.0m @ 1,822ppm TREO from 1.0m \(TNTR004\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 10

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-9)

Tunas REE · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 2146
- Grade Unit: ppm TREO
- Intercept: 14 m
- From: 0 m
- To: 14 m
- Intercept Depth: 0 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:0-14

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Phase 2 infill auger drilling at Tunas returned a strong REE intercept, confirming the lateral continuity of mineralization and enhancing the project's potential.

- Positive factor: New drill result from infill auger drilling

- Positive factor: Good grade and width for REE exploration

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 14m @ 2,146ppm TREO, 555.5ppm MREO, from surface

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 11

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-10)

Tunas REE · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 2672
- Grade Unit: ppm TREO
- Intercept: 9 m
- From: 5 m
- To: 14 m
- Intercept Depth: 5 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:5-14

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: A high-grade sub-interval within the Tunas infill drilling results, including significant MREO and Y2O3, further enhances the project's economic potential.

- Positive factor: High-grade REE sub-interval

- Positive factor: Includes elevated MREO and Y2O3 values

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 9m @ 2,672ppm TREO, 770ppm MREO and 396.6ppm Y2O3 from 5m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 12

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-11)

Tunas REE · magnetic rare earth oxides

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: magnetic rare earth oxides
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 770
- Grade Unit: ppm MREO
- Intercept: 9 m
- From: 5 m
- To: 14 m
- Intercept Depth: 5 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:5-14

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Significant MREO values within the Tunas infill drilling results indicate a valuable component of the rare earth mineralization.

- Positive factor: High-grade MREO sub-interval

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 9m @ 2,672ppm TREO, 770ppm MREO and 396.6ppm Y2O3 from 5m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 13

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-12)

Tunas REE · yttrium oxide

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: yttrium oxide
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 396.6
- Grade Unit: ppm Y2O3
- Intercept: 9 m
- From: 5 m
- To: 14 m
- Intercept Depth: 5 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:5-14

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Elevated yttrium oxide values in the Tunas infill drilling results add to the overall value proposition of the project.

- Positive factor: Elevated Y2O3 values, improving value proposition

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 9m @ 2,672ppm TREO, 770ppm MREO and 396.6ppm Y2O3 from 5m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 14

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-13)

Tunas REE · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 1509.5
- Grade Unit: ppm TREO
- Intercept: 10 m
- From: 0 m
- To: 10 m
- Intercept Depth: 0 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:0-10

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Phase 2 infill auger drilling at Tunas returned a positive REE intercept, confirming the lateral continuity of mineralization and enhancing the project's potential.

- Positive factor: New drill result from infill auger drilling

- Positive factor: Good grade and width for REE exploration

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 10m @ 1,509.5ppm TREO, 355.6ppm MREO from surface

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 15

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-14)

Tunas REE · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: rare earth elements
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 2013.5
- Grade Unit: ppm TREO
- Intercept: 6 m
- From: 4 m
- To: 10 m
- Intercept Depth: 4 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:4-10

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: A high-grade sub-interval within the Tunas infill drilling results, including significant MREO and Y2O3, further enhances the project's economic potential.

- Positive factor: High-grade REE sub-interval

- Positive factor: Includes elevated MREO and Y2O3 values

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 6m @ 2,013.5ppm TREO and 535.6ppm MREO and 198.5ppm Y2O3 from 4m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 16

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-15)

Tunas REE · magnetic rare earth oxides

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: magnetic rare earth oxides
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 535.6
- Grade Unit: ppm MREO
- Intercept: 6 m
- From: 4 m
- To: 10 m
- Intercept Depth: 4 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:4-10

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Significant MREO values within the Tunas infill drilling results indicate a valuable component of the rare earth mineralization.

- Positive factor: High-grade MREO sub-interval

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 6m @ 2,013.5ppm TREO and 535.6ppm MREO and 198.5ppm Y2O3 from 4m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 17

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-16)

Tunas REE · yttrium oxide

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tunas REE
- Commodity: yttrium oxide
- Region: brazil
- Reported Region: brazil
- Ticker: CR3

#### Geometry

- Grade: 198.5
- Grade Unit: ppm Y2O3
- Intercept: 6 m
- From: 4 m
- To: 10 m
- Intercept Depth: 4 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: Tunas\_REE:4-10

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Elevated yttrium oxide values in the Tunas infill drilling results add to the overall value proposition of the project.

- Positive factor: Elevated Y2O3 values, improving value proposition

- Positive factor: Confirms lateral continuity of mineralization

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

Evidence · text

> 6m @ 2,013.5ppm TREO and 535.6ppm MREO and 198.5ppm Y2O3 from 4m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### CAC007

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-17)

Cummins · uranium

#### Identity

- Hole ID: CAC007
- Project: Cummins
- Commodity: uranium
- Region: australia\_sa
- Reported Region: australia\_sa
- Ticker: CR3

#### Geometry

- Grade: 114.3
- Grade Unit: ppm U3O8
- Intercept: 4 m
- From: 104 m
- To: 108 m
- Intercept Depth: 104 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: CAC007:104-108

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Maiden aircore drilling at Cummins identified uranium mineralization, providing valuable geological information for future targeting at an early stage.

- Positive factor: New drill result from maiden aircore drilling

- Positive factor: Identified uranium intercepts

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Grade is weak to moderate for uranium

Evidence · text

> 4m at 114.3ppm U3O8 from 104m \(including 2m 136.2ppm U3O8 from 105m\) \(CAC007\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### CAC007

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-18)

Cummins · uranium

#### Identity

- Hole ID: CAC007
- Project: Cummins
- Commodity: uranium
- Region: australia\_sa
- Reported Region: australia\_sa
- Ticker: CR3

#### Geometry

- Grade: 136.2
- Grade Unit: ppm U3O8
- Intercept: 2 m
- From: 105 m
- To: 107 m
- Intercept Depth: 105 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: CAC007:105-107

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: A sub-interval from the maiden aircore drilling at Cummins shows uranium mineralization, contributing to the understanding of the project's potential.

- Positive factor: New drill result from maiden aircore drilling

- Positive factor: Identified uranium intercepts

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Grade is weak to moderate for uranium

- Negative factor: Narrow intercept length

Evidence · text

> 2m 136.2ppm U3O8 from 105m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### CAC025

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-19)

Cummins · uranium

#### Identity

- Hole ID: CAC025
- Project: Cummins
- Commodity: uranium
- Region: australia\_sa
- Reported Region: australia\_sa
- Ticker: CR3

#### Geometry

- Grade: 117.9
- Grade Unit: ppm U3O8
- Intercept: 1 m
- From: 88 m
- To: 89 m
- Intercept Depth: 88 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: CAC025:88-89

#### Location

- Location: Central Zone
- Loc. Source: document

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Maiden aircore drilling at Cummins identified uranium mineralization over a narrow interval, providing early geological information.

- Positive factor: New drill result from maiden aircore drilling

- Positive factor: Identified uranium intercepts

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the drilling program

- Negative factor: Grade is weak to moderate for uranium

- Negative factor: Narrow intercept length

Evidence · text

> 1m at 117.9ppm U3O8 from 88m \(CAC025\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 21

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-20)

Cummins · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Cummins
- Commodity: rare earth elements
- Region: australia\_sa
- Reported Region: australia\_sa
- Ticker: CR3

#### Geometry

- Grade: 505
- Grade Unit: ppm TREO
- Intercept: 27 m

#### Classification

- Program: exploration
- Sample Type: drill

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: XRF analysis of Cummins drill samples revealed a broad zone of REE mineralization with moderate MREO enrichment, broadening the project's potential.

- Positive factor: New REE intercept from XRF analysis of drill samples

- Positive factor: Broad zone of REE mineralization

- Positive factor: Includes moderate MREO enrichment

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the XRF analysis

- Negative factor: No specific hole ID provided

Evidence · text

> 27m @ 505ppm TREO \(27% MREO\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 22

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-21)

Cummins · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Cummins
- Commodity: rare earth elements
- Region: australia\_sa
- Reported Region: australia\_sa
- Ticker: CR3

#### Geometry

- Grade: 1230
- Grade Unit: ppm TREO
- Intercept: 4 m

#### Classification

- Program: exploration
- Sample Type: drill

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: A higher-grade sub-interval of REE mineralization with strong MREO enrichment was identified at Cummins, indicating localized enrichment.

- Positive factor: New REE intercept from XRF analysis of drill samples

- Positive factor: Higher-grade sub-interval

- Positive factor: Includes strong MREO enrichment

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the XRF analysis

- Negative factor: No specific hole ID provided

Evidence · text

> 4m @ 1,230ppm TREO \(31% MREO\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 23

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-22)

Cummins · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Cummins
- Commodity: rare earth elements
- Region: australia\_sa
- Reported Region: australia\_sa
- Ticker: CR3

#### Geometry

- Grade: 402
- Grade Unit: ppm TREO
- Intercept: 18 m

#### Classification

- Program: exploration
- Sample Type: drill

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: XRF analysis of Cummins drill samples revealed another broad zone of REE mineralization with moderate MREO enrichment, further broadening the project's potential.

- Positive factor: New REE intercept from XRF analysis of drill samples

- Positive factor: Broad zone of REE mineralization

- Positive factor: Includes moderate MREO enrichment

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the XRF analysis

- Negative factor: No specific hole ID provided

Evidence · text

> 18m @ 402ppm TREO \(25% MREO\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 24

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-drill-facts-23)

Cummins · rare earth elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Cummins
- Commodity: rare earth elements
- Region: australia\_sa
- Reported Region: australia\_sa
- Ticker: CR3

#### Geometry

- Grade: 1044
- Grade Unit: ppm TREO
- Intercept: 2 m

#### Classification

- Program: exploration
- Sample Type: drill

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: A higher-grade sub-interval of REE mineralization with strong MREO enrichment was identified at Cummins, indicating localized enrichment.

- Positive factor: New REE intercept from XRF analysis of drill samples

- Positive factor: Higher-grade sub-interval

- Positive factor: Includes strong MREO enrichment

- Negative factor: Apparent width only, true width not disclosed

- Negative factor: No QA/QC disclosure for the XRF analysis

- Negative factor: No specific hole ID provided

- Negative factor: Narrow intercept length

Evidence · text

> 2m @ 1,044ppm TREO \(35% MREO\)

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

## Metallurgical Results (4)

### leach test

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-metallurgical-facts-24)

Tunas REE Project · rare earth elements

#### Identity

- Project: Tunas REE Project
- Commodity: rare earth elements
- Region: brazil
- Reported Region: Parana, Brazil
- Ticker: CR3

#### Test Work

- Test Type: leach test
- Processing Route: leach testwork
- Sample: Deeper sample group

#### Recovery

- Recovery: 38 %
- Recovery Basis: actual\_test
- Head Grade: 951
- Head Grade Unit: ppm

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Preliminary leach testwork at Tunas shows low average TREO recovery, but confirms recoverability under mild leaching conditions, indicating early-stage metallurgical potential.

- Positive factor: Confirms recoverability of rare earth mineralization

- Negative factor: Low recovery percentage for TREO

- Negative factor: Preliminary bench-scale testwork only

- Negative factor: No QA/QC disclosure for testwork

Evidence · text

> Deeper sample group averaging 38% TREO recovery and 63% MREO recovery, with average recovered grades of approximately 951ppm TREO and 524ppm MREO.

### leach test

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-metallurgical-facts-25)

Tunas REE Project · magnetic rare earth oxides

#### Identity

- Project: Tunas REE Project
- Commodity: magnetic rare earth oxides
- Region: brazil
- Reported Region: Parana, Brazil
- Ticker: CR3

#### Test Work

- Test Type: leach test
- Processing Route: leach testwork
- Sample: Deeper sample group

#### Recovery

- Recovery: 63 %
- Recovery Basis: actual\_test
- Head Grade: 524
- Head Grade Unit: ppm

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Preliminary leach testwork at Tunas shows moderate average MREO recovery, confirming recoverability and indicating early-stage metallurgical potential for this valuable component.

- Positive factor: Confirms recoverability of magnetic rare earth mineralization

- Negative factor: Low recovery percentage for MREO

- Negative factor: Preliminary bench-scale testwork only

- Negative factor: No QA/QC disclosure for testwork

Evidence · text

> Deeper sample group averaging 38% TREO recovery and 63% MREO recovery, with average recovered grades of approximately 951ppm TREO and 524ppm MREO.

### leach test

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-metallurgical-facts-26)

Tunas REE Project · rare earth elements

#### Identity

- Project: Tunas REE Project
- Commodity: rare earth elements
- Region: brazil
- Reported Region: Parana, Brazil
- Ticker: CR3

#### Test Work

- Test Type: leach test
- Processing Route: leach testwork
- Sample: Maximum calculated recovery

#### Recovery

- Recovery: 64 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Maximum TREO recovery from preliminary leach testwork at Tunas is moderate, confirming recoverability but highlighting the need for further optimization.

- Positive factor: Confirms recoverability of rare earth mineralization

- Negative factor: Low maximum recovery percentage for TREO

- Negative factor: Preliminary bench-scale testwork only

- Negative factor: No QA/QC disclosure for testwork

Evidence · text

> Maximum calculated recoveries of 64% TREO and 104% MREO

### leach test

[Link to this fact](https://atlas-staging.minestarters.com/news/cr3-annual-report-to-shareholders--82681e13-7269-4b22-b0a6-41510658f1f6#fact-metallurgical-facts-27)

Tunas REE Project · magnetic rare earth oxides

#### Identity

- Project: Tunas REE Project
- Commodity: magnetic rare earth oxides
- Region: brazil
- Reported Region: Parana, Brazil
- Ticker: CR3

#### Test Work

- Test Type: leach test
- Processing Route: leach testwork
- Sample: Maximum calculated recovery \(interpreted as analytical variability\)

#### Recovery

- Recovery: 104 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-09-29T00:00:00.000Z

Reasoning: Maximum MREO recovery from preliminary leach testwork at Tunas is exceptionally high, confirming strong leachability for this valuable component, despite being attributed to analytical variability.

- Positive factor: High recovery percentage for MREO, indicating strong leachability

- Negative factor: Preliminary bench-scale testwork only

- Negative factor: No QA/QC disclosure for testwork

- Negative factor: Result above 100% attributed to analytical variability

Evidence · text

> Maximum calculated recoveries of 64% TREO and 104% MREO

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.