Oceana Lithium Says High-Grade Mineralization Confirmed Over Continuous Corridor at Brazil Rare Earth Project

MT Newswires Live

Jul 09

Oceana Lithium (ASX:OCN) said high-grade rare earth element mineralization was confirmed over a broad, continuous corridor at the Serra Negra rare earth project in Brazil, according to a Thursday Australian bourse filing.

Assays from a historical core re-sampling program confirmed extensive mineralization over thick intervals, with significant results including 50 meters at 4% grade of total rare earth oxides (TREO), within 114 meters at 2.3% TREO mineralized zone to end-of-hole, as well as 22 meters at 4.7% TREO, within 84 meters at 2.1% TREO mineralized zone to end-of-hole.

It defined a priority one-kilometer by 1.5-kilometer central target corridor for its 20,000-meter diamond drill program.

Its shares rose 2% in recent trading on Thursday.

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