• Four separate, five-day campaigns at ANSTO totalling 480 hours confirmed excellent metallurgical rare earth recoveries
• Magnet rare earth recoveries of 70% consistently achieved
• High quality Mixed Rare Earth Carbonate (MREC) produced, with total recoveries of 60% Total Rare Earth Oxide (TREO) and less than 2% impurities

Meteoric Resources NL has completed four continuous piloting programs at the Australian Nuclear Science and Technology Organisation (ANSTO) on its 100%-owned Caldeira Rare Earth Ionic Clay Project in Brazil. The test work, totalling 480 hours, confirmed excellent metallurgical rare earth recoveries, materials handling, and water management of the Caldeira Project ionic clays. Magnet rare earth recoveries of 70% were consistently achieved, and a high-quality Mixed Rare Earth Carbonate (MREC) was produced, with total recoveries of 60% Total Rare Earth Oxide (TREO) and less than 2% impurities. The pilot plant used a 2.5 tonne master composite from 154 drill holes at the Capão Do Mel (CDM) deposit, with an average head grade of 4,877ppm TREO. The successful piloting has de-risked the flowsheet using a low-cost, environmentally friendly Ammonium Sulfate (AMSUL) wash, and the spent clay handling has been proven to be competent, allowing for efficient and sustainable backfilling of pits. The availability of MREC for qualification testwork by current and potential offtake partners allows Meteoric to continue progressing towards binding term sheets. The company is also excited to see its partners, Metallium Limited and Ucore Rare Metals Inc., enter into a Technology Collaboration Agreement, which will be supported by the Caldeira Project pilot plant.

The pilot plant in Brazil will produce approximately 2 kilograms of MREC per day to validate and optimise the entire process flowsheet.