REG - Harvest Minerals Ltd - Positive Assay Results at the Arapuá Project

Harvest MineralsAnnouncement

11/11/2024 11:15

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RNS Number : 7261L  Harvest Minerals Limited  11 November 2024

 Harvest Minerals Limited / Index: LSE / Epic: HMI / Sector: Mining

11 November 2024

Harvest Minerals Limited ('Harvest' or the 'Company')

 

Positive Assay Results from REE Exploration at Arapuá Project

 

Harvest Minerals Limited, the AIM listed fertiliser producer is pleased to
report assay results from seven auger drill holes from its Rare Earth Elements
("REE") exploration program at its 100% owned Arapuá Fertiliser Project in
Brazil ("Arapuá Project").

 

Highlights

·    Seven auger drill holes completed across six targets within Harvest's
mineral rights.

·    Total rare earth oxides (TREO) content in the samples ranges from
817.77 ppm to 4,370.08 ppm.

·    Channel samples collected at the Maximus target have returned highest
grade to date.

·    A total of 87 samples were analyzed using ICP-OES and ICP-MS methods,
with leaching tests also conducted.

·    Final results from phase 1 of the program, including SEM (scanning
electron microscopy), are expected to be delivered by end of November.

·    Harvest will collaborate with PVW Resources Limited under the
Technical Cooperation Agreement to evaluate further exploration, processing,
and beneficiation methods for REEs, as well as the next drilling phase.

 

Brian McMaster, Chairman of Harvest, said: "These assay results represent a
promising step forward in our exploration of rare earth elements at Arapuá.
The presence of significant TREO content underscores the potential of our
asset, and we are excited to work closely with PVW Resources in defining the
next stages of our program. Together, we are committed to unlocking the value
of these findings through detailed assessment and development".

Background

As previously reported, Harvest has started a two-phased REE work programme,
commencing with new auger drillholes on areas where historical samples have
yielded high-grade REE occurrences. The planned seven auger drill holes have
now been drilled across six targets within Harvest's mineral rights (see drill
location on Figure 1).

A total of 87 samples have been submitted to chemical analyses using
Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES) and
Inductively Coupled Plasma Mass Spectrometry (ICP-MS), as well as for leaching
tests.

Significant results have been returned for with total rare earth oxides
("TREO") contents ranging from 817.77 ppm to 4,370.08 ppm.

                                              TREO (ppm)
 ID              Target            # Samples  Min.      Max
 AMDRC23-09      Maximus           15         1,299.64  1,910.30
 CDMRC23-04      Colégio           16         1,428.90  2,897.52
 MTS3ETRAD24-01  Mata do Salgado   14         1,572.09  3,305.82
 FSAD22-01       Fazenda Sapecado  3          1,967.84  2,077.18
 PI2ETRAD24-01   Pimentas II       11         1,563.99  4,206.44
 PI2ETRAD24-02   Pimentas II       15         817.77    1,152.62
 PI1ETRAD24-01   Pimentas I        10         868.09    2,280.61
 MXCS24-01       Maximus           3          2,112.75  4,370.08

Table 1: TREO Assays Results

 

 ID              Target            From   To     Interval  TREO (ppm)
 AMDRC23-09      Maximus           8.00   9.00   1.00      1,910.30
 CDMRC23-04      Colégio           6.00   8.00   2.00      2,457.12
 MTS3ETRAD24-01  Mata do Salgado   0.60   8.00   7.40      2,741.62
 FSAD22-01       Fazenda Sapecado  1.00   5.35   4.35      2,005.35
 PI2ETRAD24-01   Pimentas II       3.00   12.00  9.00      3,254.76
 PI2ETRAD24-02   Pimentas II       11.00  15.00  4.00      1,102.23
 PI1ETRAD24-01   Pimentas I        0.50   3.00   2.50      2,196.87
 PI1ETRAD24-01   Pimentas I        6.00   10.00  4.00      1804.08
 MXCS24-01       Maximus           4.00   7.00   3.00      3,457.30

Table 2: TREO Drilling Intercepts and Assay Results

In mid-November, we will receive the full set of lab results for the samples,
including Scanning Electron Microscopy (SEM) analyses. These results should
allow us to identify the minerals bearing the REEs, enabling us to start
investigation on potential concentration methods.

Under the Technical Cooperation Agreement ("TCA"), Harvest will work with its
technical partner PVW Resources Limited (see RNS dated 16 September 2024) to
assess the next stages of the REE program which includes evaluating potential
processing methods for REEs to substantiate these preliminary findings.

 

Figure 1: Location map of the drill holes and channel

 

Competent Person Statement

The technical information in this announcement is based on complied and
reviewed data by Mr Paulo Brito BSc(geol), MAusIMM, MAIG. Mr Brito is a
consulting geologist for Harvest Minerals Limited and is a Member of AusIMM -
The Minerals Institute, as well as a Member of Australian Institute of
Geoscientists. Mr Brito has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the
activity which is being undertaken to qualify as a Competent Person as defined
in the 2012 Edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves". Mr Brito also meets the
requirements of a qualified person under the AIM Note for Mining, Oil and Gas
Companies and consents to the inclusion in this announcement of the matters
based on his information in the form and context in which it appears. Mr Brito
accepts responsibility for the accuracy of the statements disclosed in this
announcement.

 

**ENDS**

 

For further information, please visit www.harvestminerals.net
(http://www.harvestminerals.net/)  or contact:

 

 Harvest Minerals Limited            Brian McMaster (Chairman)   Tel: +44 (0) 203 940 6625

 Strand Hanson Limited               Ritchie Balmer              Tel: +44 (0) 20 7409 3494

 Nominated & Financial Adviser       James Spinney

 Tavira Securities                   Jonathan Evans              Tel: +44 (0) 20 3192 1733

 Broker

 

 

 

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