The Salitre and Catalao Niobium REE Projects were identified as prospective areas for carbonatite intrusion-related niobium mineralisation and are situated within the Alto Paranaba Magmatic Province (APMP). The APMP hosts 97% of worldwide niobium production, all from carbonatite intrusions.
The Salitre Project is adjacent to the Salitre and Serra Negra carbonatite complexes that host significant niobium and phosphate Mineral Resources. Open pit mining and processing at the Salitre carbonatite produces phosphate, which in turn hosts niobium and rare earth minerals.
During the September 2024 quarter OzAurum undertook 2 soil sampling programs. Results of the first were announced 3 September 2024 and the second during the quarter on 21 October 2024 (see ASX announcements on those dates for detailed discussion of the exploration results). The first soils program identified an area labelled Target 1. The second program further tested this area, and we have identified a widespread niobium in soil anomaly over a 1km² area with a peak niobium in soil result of 271 ppm. Coincident anomalism of tantalum, hafnium, thorium follows the same pattern as Niobium. These are high field strength elements that along with niobium are immobile in the regolith profile. This strongly suggests a niobium rich carbonatite intrusion as the source of the anomalism. These latest results support and validate our niobium carbonatite intrusion exploration model.
Target 1 at the Saltire Project was identified as an ultra violet (UV) anomaly by consultant Dr Neil Pendock. OzAurum considers this to be an exciting niobium carbonatite exploration project based on coincident high gamma radiation readings and a cluster of nine UV anomalies within a large niobium anomaly over a 1 km² area.
During the March 2025 quarter the Company decided to reduce its tenure and associated holding costs in Brazil and focus on the Target 1 area at the Salitre Project. As a consequence the Company has relinquished 23 tenements at the Catalao and Salitre project areas and retained the 2 tenements containing the Target 1.
During 2025, OzAurum has plans to commence diamond drilling at Target 1, proposed to be drilled to 200m depth. These will be completed utilising the company-owned diamond drilling rig along with the OZM drilling crew.
Target 1 has been subject to intensive agriculture and after examining satellite images taken since December 1985, OzAurum dismisses farming activity as an explanation for these anomalies.
