Meteoric Resources Announce Resource Growth, Exudes Confidence
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Meteoric Resources Limited (ASX: MEI) has announced an updated Global Mineral Resource Estimate for its 100% owned Caldeira Rare Earths Project in Brazil on 9 July 2026 lifting Measured Resources and strengthening confidence ahead of the DFS. The update follows infill drilling across the southern licences and is designed to improve mine planning, recovery assumptions and financing visibility.
The company reported that Measured Resources across Caldeira rose by 246% to 128Mt at 2,815ppm TREO while the global MRE now stands at 1.6Bt at 2,317ppm TREO including 209kt of praseodymium oxide, 594kt of neodymium oxide, 6kt of terbium oxide and 34kt of dysprosium oxide. High grade resources in the Measured and Indicated categories also increased to 703Mt at 2,617ppm TREO.
Meteoric noted the upgrade reflects denser drilling, improved geological modelling and better definition of orebody variability in Capo do Mel, Figueira and Soberbo. The company also added that the larger dataset reduces risk, supports more precise mine scheduling and should help optimise future development decisions.
The release also ties the resource update to broader project de risking including pilot plant work, metallurgical testwork and DFS inputs that will feed into reserves conversion and final project design. Meteoric noted that the Caldeira Project remains permitted through the Brazilian environmental process with additional licensing work progressing.
(Source: Company Announcements)
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