Drilling Expands Mineralized Footprint at Penelope
Libra Energy Materials Inc. reported the remaining assay results from its maiden auger drill program at the Penelope Project in Minas Gerais, Brazil, which successfully expanded the near-surface rare earth element (REE) enrichment footprint. The program extended mineralization up to 700m from the Elena target, with notable intercepts including 2.0m at 1,421 ppm TREO from surface in Hole PLE-AD-021 and 12.0m at 801 ppm TREO from surface in Hole PLE-AD-010, with several holes ending in mineralization. The results also show consistent gallium values and, in places, a high proportion of magnet rare earths, although the company considers Penelope non-core to its long-term strategy.