# MGU: New Assays Define High-Desorption Magnet REEs \(TbDy & NdPr\) Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03151058 Publisher: asx Original announcement: 2026-10-11T22:36:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-11T23:16:36.445Z Atlas analysis updated: 2026-10-11T23:16:36.445Z - Company: Magnum Mining and Exploration Limited - Ticker: MGU - Exchange: ASX - Region: Goiás, Brazil - Primary commodity: Rare earths - Secondary commodities: None reported - Document categories: Drill results - Extracted: 2026-10-11 23:16:37 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Magnum Mining and Exploration Limited announced new assay results from 119 auger holes at its Piracanjuba North rare earth project in Brazil, defining high-desorption zones with enriched heavy \(TbDy\) and light \(NdPr\) magnet rare earths. Key intercepts include 8m at 428 ppm D-TREO from 6m in PIR-AH-0501 and 6m at 461 ppm D-TREO with 18.3 ppm D-TbDy from 6m in PIR-AH-0494. These results reinforce a broad and repeatable granite-hosted IAC-style system, with 33% of new holes ending in mineralization, and support the upcoming maiden JORC Mineral Resource Estimate targeted for November 2026. Reasoning: The announcement reports significant new high-grade and high-desorption magnet rare earth intersections from 119 auger holes, expanding the known mineralized footprint and providing strong support for an upcoming maiden JORC MRE. The results are generally above the project average and include several strong grade-thickness intercepts. - Positive factor: High-grade magnet REE intersections \(TbDy, NdPr\) - Positive factor: Broad and repeatable mineralization over a large area \(32.5 km² Plateau Zone\) - Positive factor: Significant number of new holes with high D-TREO grades - Positive factor: Holes ending in mineralization, indicating potential for deeper extensions - Positive factor: Infill drilling underway to support Maiden Mineral Resource Estimate - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: D-prefix grades are screening indicators, not metallurgical or process recovery - Negative factor: True widths are not established - Negative factor: No umpire laboratory program reported for this batch Facts used in scoring: 15 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The sub-interval of 2m at 946 ppm D-TREO in PIR-AH-0420 is an exceptionally high-grade zone for rare earths, well above the project average. Evidence · table > 946 Context: 2 m from 12 m **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release includes detailed QA/QC disclosure in JORC Table 1, mentioning certified reference materials, blanks, and field duplicates, and analysis by ALS. Evidence · text > Company QAQC samples include certified reference materials, blanks and field duplicates. ALS preparation records used for Piracanjuba include received-weight and login controls, fine crushing to approximately 70% passing 2 mm, riffle splitting and pulverising up to 250 g to approximately 85% passing 75 μm, together with ALS crushing and pulverising QC procedures. **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: The compositing rules for reported intervals are clearly stated: 'longest run in each featured hole in which every original sample exceeds 300 ppm D-TREO' and 'including' interval is 'highest-D-TREO original sample within that same run'. Evidence · text > The selected intervals below show the longest run in each featured hole in which every original sample exceeds 300 ppm D-TREO. The “including” line is the highest-D-TREO original sample within that same run. **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: The document explicitly states that reported intercepts are apparent down-hole lengths from vertical auger drilling and true widths are not established. Evidence · text > Reported intercepts are apparent down-hole lengths from vertical auger drilling. Because the exploration target is a shallow weathered-profile system, vertical intervals may locally approximate vertical profile thickness, but true widths are not established. **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The release states that a subsequent infill programme is underway to delineate higher-response zones and support geological confidence. Evidence · text > The subsequent infill programme is underway across the Plateau, with approximately 751 m completed to date, to delineate higher-response zones and support geological confidence, mineralogy, representative metallurgical sampling and subsequent study work. **Maiden Resource** Polarity: neutral Story-specific tag Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The company is targeting a Maiden JORC Mineral Resource Estimate for November 2026. Evidence · text > Maiden JORC Mineral Resource Estimate targeted for November 2026 **JORC Compliant** Polarity: positive Story-specific tag Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The information is based on and fairly represents information prepared and compiled by a Competent Person as defined in the JORC Code 2012. Evidence · text > The information in this announcement that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared and compiled by Leonardo Deringer Fraga, P.Geo., Principal Geologist and Founder of Big Ben Mining Consultoria, contractor and Exploration Manager for Magnum. Mr Fraga is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia \(EGBC \#61611\), a Recognised Professional Organisation for the purposes of the JORC Code 2012. Mr Fraga has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the JORC Code 2012. **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Why it applies: D-prefix grades are described as laboratory desorption-screening results and screening indicators, not metallurgical or process recovery, and no price or recovery assumptions are disclosed for them. Evidence · text > D-prefix grades are laboratory desorption-screening results, in which a mild salt solution \(ammonium sulphate, initial pH 4\) is used to release ion-exchangeable rare earths from the sample. Apparent desorption is the ratio of desorbed grade to matched head grade. It is a screening indicator and is not metallurgical or process recovery. ## Extracted facts Stored fact records: 15. Some facts used in scoring do not have a stored record. ## Drill Results (15) ### PIR-AH-0420 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-0) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0420 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 626 - Grade Unit: ppm - Intercept: 5 m - From: 10 m - To: 15 m - Hole Depth: 15 m - Intercept Depth: 10 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0420:10-15 - Mining Method: open\_pit #### Location - Easting: 714289.3 - Northing: 8095745.24 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 764.99 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 5m at 626 ppm D-TREO is significantly above the project average grade of 503 ppm, indicating strong mineralization, and the hole ends in mineralization, suggesting potential for extension. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: Good intercept length - Positive factor: Hole ends in mineralization - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 626 Context: 5 m from 10 m to EOH #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0420 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-1) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0420 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 946 - Grade Unit: ppm - Intercept: 2 m - From: 12 m - To: 14 m - Hole Depth: 15 m - Intercept Depth: 10 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0420:12-14 - Mining Method: open\_pit #### Location - Easting: 714289.3 - Northing: 8095745.24 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 764.99 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This sub-interval of 2m at 946 ppm D-TREO represents a bonanza grade for rare earths, significantly exceeding the project average and indicating a very high-grade zone within the broader intercept. - Positive factor: Bonanza Intercept for rare earths - Positive factor: Significantly above project average grade - Positive factor: High-grade sub-interval - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 946 Context: 2 m from 12 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0447 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-2) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0447 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 518 - Grade Unit: ppm - Intercept: 4 m - From: 14 m - To: 18 m - Hole Depth: 18 m - Intercept Depth: 14 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0447:14-18 - Mining Method: open\_pit #### Location - Easting: 713340.63 - Northing: 8093175.07 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 831.7 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 4m at 518 ppm D-TREO is above the project average grade of 503 ppm, indicating strong mineralization, and the hole ends in mineralization, suggesting potential for extension. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: Good intercept length - Positive factor: Hole ends in mineralization - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 518 Context: 4 m from 14 m to EOH #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0447 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-3) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0447 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 719 - Grade Unit: ppm - Intercept: 2 m - From: 16 m - To: 18 m - Hole Depth: 18 m - Intercept Depth: 14 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0447:16-18 - Mining Method: open\_pit #### Location - Easting: 713340.63 - Northing: 8093175.07 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 831.7 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This sub-interval of 2m at 719 ppm D-TREO represents a high grade for rare earths, significantly exceeding the project average and indicating a strong zone within the broader intercept. - Positive factor: High grade for rare earths - Positive factor: Significantly above project average grade - Positive factor: High-grade sub-interval - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 719 Context: 2 m from 16 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0491 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-4) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0491 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 612 - Grade Unit: ppm - Intercept: 5 m - From: 4 m - To: 9 m - Hole Depth: 9 m - Intercept Depth: 4 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0491:4-9 - Mining Method: open\_pit #### Location - Easting: 715001.52 - Northing: 8094321.15 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 796.18 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 5m at 612 ppm D-TREO is significantly above the project average grade of 503 ppm, indicating strong mineralization, and the hole ends in mineralization, suggesting potential for extension. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: Good intercept length - Positive factor: Hole ends in mineralization - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 612 Context: 5 m from 4 m to EOH #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0491 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-5) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0491 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 717 - Grade Unit: ppm - Intercept: 2 m - From: 4 m - To: 6 m - Hole Depth: 9 m - Intercept Depth: 4 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0491:4-6 - Mining Method: open\_pit #### Location - Easting: 715001.52 - Northing: 8094321.15 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 796.18 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This sub-interval of 2m at 717 ppm D-TREO represents a high grade for rare earths, significantly exceeding the project average and indicating a strong zone within the broader intercept. - Positive factor: High grade for rare earths - Positive factor: Significantly above project average grade - Positive factor: High-grade sub-interval - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 717 Context: 2 m from 4 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0411 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-6) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0411 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 630 - Grade Unit: ppm - Intercept: 2 m - From: 8 m - To: 10 m - Hole Depth: 15 m - Intercept Depth: 8 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0411:8-10 - Mining Method: open\_pit #### Location - Easting: 714524.65 - Northing: 8096102.12 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 754.33 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 2m at 630 ppm D-TREO is significantly above the project average grade of 503 ppm, indicating a strong high-grade zone. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 630 Context: 2 m from 8 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0494 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-7) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0494 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 461 - Grade Unit: ppm - Intercept: 6 m - From: 6 m - To: 12 m - Hole Depth: 12 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0494:6-12 - Mining Method: open\_pit #### Location - Easting: 715020.6 - Northing: 8093877.92 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 812.79 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 6m at 461 ppm D-TREO, while slightly below the project average, represents a good grade and length, with a strong grade-thickness product, and the hole ends in mineralization. - Positive factor: Good grade for rare earths - Positive factor: Good intercept length - Positive factor: Hole ends in mineralization - Positive factor: High grade-thickness product \(2766 ppm\*m\) - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 461 Context: 6 m from 6 m to EOH #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0494 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-8) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0494 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 584 - Grade Unit: ppm - Intercept: 2 m - From: 8 m - To: 10 m - Hole Depth: 12 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0494:8-10 - Mining Method: open\_pit #### Location - Easting: 715020.6 - Northing: 8093877.92 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 812.79 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This sub-interval of 2m at 584 ppm D-TREO is above the project average grade, indicating a strong zone within the broader intercept. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: High-grade sub-interval - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 584 Context: 2 m from 8 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0502 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-9) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0502 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 499 - Grade Unit: ppm - Intercept: 4 m - From: 6 m - To: 10 m - Hole Depth: 15 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0502:6-10 - Mining Method: open\_pit #### Location - Easting: 715928.86 - Northing: 8094099.59 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 805 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 4m at 499 ppm D-TREO represents a good grade and length, contributing positively to the overall mineralization. - Positive factor: Good grade for rare earths - Positive factor: Good intercept length - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 499 Context: 4 m from 6 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0502 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-10) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0502 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 579 - Grade Unit: ppm - Intercept: 2 m - From: 8 m - To: 10 m - Hole Depth: 15 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0502:8-10 - Mining Method: open\_pit #### Location - Easting: 715928.86 - Northing: 8094099.59 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 805 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This sub-interval of 2m at 579 ppm D-TREO is above the project average grade, indicating a strong zone within the broader intercept. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: High-grade sub-interval - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 579 Context: 2 m from 8 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0430 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-11) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0430 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 514 - Grade Unit: ppm - Intercept: 4 m - From: 6 m - To: 10 m - Hole Depth: 15 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0430:6-10 - Mining Method: open\_pit #### Location - Easting: 715918.85 - Northing: 8094905.48 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 782.84 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 4m at 514 ppm D-TREO is above the project average grade, indicating strong mineralization. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: Good intercept length - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 514 Context: 4 m from 6 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0430 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-12) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0430 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 535 - Grade Unit: ppm - Intercept: 2 m - From: 6 m - To: 8 m - Hole Depth: 15 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0430:6-8 - Mining Method: open\_pit #### Location - Easting: 715918.85 - Northing: 8094905.48 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 782.84 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This sub-interval of 2m at 535 ppm D-TREO is above the project average grade, indicating a strong zone within the broader intercept. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: High-grade sub-interval - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 535 Context: 2 m from 6 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0501 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-13) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0501 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 428 - Grade Unit: ppm - Intercept: 8 m - From: 6 m - To: 14 m - Hole Depth: 15 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0501:6-14 - Mining Method: open\_pit #### Location - Easting: 716137.09 - Northing: 8094302.03 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 791.65 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This intercept of 8m at 428 ppm D-TREO, while slightly below the project average, represents an excellent length and a very strong grade-thickness product, indicating significant mineralization. - Positive factor: Good grade for rare earths - Positive factor: Excellent intercept length - Positive factor: High grade-thickness product \(3424 ppm\*m\) - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 428 Context: 8 m from 6 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### PIR-AH-0501 [Link to this fact](https://atlas-staging.minestarters.com/news/mgu-new-assays-define-high-desorption-magnet-rees-tbdy-ndpr--27f3dd05-0ce1-44a5-a840-b0927c58414e#fact-drill-facts-14) Piracanjuba North · rare\_earths #### Identity - Hole ID: PIR-AH-0501 - Project: Piracanjuba North - Commodity: rare\_earths - Region: brazil - Reported Region: brazil - Ticker: MGU #### Geometry - Grade: 533 - Grade Unit: ppm - Intercept: 2 m - From: 10 m - To: 12 m - Hole Depth: 15 m - Intercept Depth: 6 m #### Classification - Deposit Type: other - Program: mixed - Sample Type: drill - Group ID: PIR-AH-0501:10-12 - Mining Method: open\_pit #### Location - Easting: 716137.09 - Northing: 8094302.03 - CRS: SIRGAS 2000 / UTM Zone 22S - Elevation: 791.65 m - Dip: -90 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: ALS - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-11T00:00:00.000Z Reasoning: This sub-interval of 2m at 533 ppm D-TREO is above the project average grade, indicating a strong zone within the broader intercept. - Positive factor: High grade for rare earths - Positive factor: Above project average grade - Positive factor: High-grade sub-interval - Positive factor: JORC compliant reporting - Positive factor: QP signed off - Positive factor: Detailed QA/QC disclosed - Negative factor: Apparent width only - Negative factor: D-prefix grades are screening indicators, not metallurgical recovery - Negative factor: No umpire laboratory program reported Evidence · table > 533 Context: 2 m from 10 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ## 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.