The drill gap program:

• confirmed rare-earth parts (REE) mineralization acknowledged via geological work, together with geochemical sampling continued at depth.
• acknowledged that the mineralization happens primarily within the first 15m beneath floor, with an financial horizon of roughly 7m.
• confirmed that REE are extremely absorbed into ionic clays leading to a excessive share of REE exchangeable fraction restoration (see desk 3).
• confirmed engaging recoverable values of the heavy uncommon earths (HREE,) Dysprosium and Terbium (DyTb), in addition to the sunshine uncommon earths, Neodymium and Praseodymium (NdPr).
• confirmed that the mineralization stays open on its lateral extents at totally different topographic ranges.

Ramón Barúa, CEO of Aclara, commented:

“Preliminary exploration outcomes at Veronica North signify step one in direction of turning into a multi-modular HREE Firm. As we progress, our in-house developed exploration mannequin has confirmed extremely efficient find REE-enriched ionic clay deposits. We’re very inspired with these outcomes and plan to proceed with additional drilling campaigns to unlock the total potential of the asset”.

A location map is proven in Determine 1, the place the total Veronica district is displayed masking roughly 13,122Ha in excessive precedence drilling areas, comprising of Veronica Norte (5,055Ha), Verónica Centro (2,492Ha) and Veronica Sur (5,575Ha). The drilling marketing campaign executed in 2022 is especially concentrated within the north of Veronica Norte. Drill holes, averaging 25m in depth, intersected mineralization with TREY (whole uncommon earth plus yttrium) financial grades; the interception size and common composite grades (ppm) of those intersections are proven in Desk 1.

Determine 1. Plant view of Veronica Norte Mission location (purple define), purple dots present drill holes of the 2022 marketing campaign whereas gray dots signify earlier drill holes within the space.

Patricio Irribarra, Head of Geology at Aclara, commented:

“The drill holes within the Veronica Norte space had been designed to (i) affirm the presence of REE mineralization beneath the nice outcomes obtained throughout floor geochemical scan and sampling, (ii) check different targets within the space and eventually, (iii) perceive the geological components that management the mineralization.

Verónica Norte shows totally different traits to the Penco Module, reminiscent of being a shallower but probably bigger deposit, with decrease grades however with a considerably larger exchangeable REE fraction with fascinating ranges of each DyTb and NdPr. We’re inspired that Veronica Norte mineralization stays open on its lateral extents at totally different topographic ranges, producing new focusing on zones and rewarding our exploration efforts. We’ve determined to proceed with the drilling and sub-surface sampling within the Veronica Norte space, focusing on different sectors to maintain evaluating the positioning potential and its extension.

The areas of Veronica district had been closely impacted by the fires throughout February, which has put a brief restriction to re-initiate drilling works. In the course of the summer season season, we’ll hold serving to the affected communities on web site in addition to collaborating with forestry firms. We intend to renew greenfield campaigns on the applicable time as soon as we obtain clearance from superficial land house owners.”

Geological Overview

The Mission hosts uncommon earth parts mineralization absorbed into an ionic clay deposit, which is fashioned by the weathering of calc-alkaline with peraluminous sign rocks as protolith, containing REE bearing and accent minerals reminiscent of monazite, allanite, and apatite, and as impurities in major minerals. As a consequence of floor weathering, REE containing minerals are decomposed, and ionized REEs are absorbed on the floor of clay minerals reminiscent of halloysite and kaolinite.

In accordance with the geological mapping and the data obtained from the Veronica Norte 2022 drill gap marketing campaign, the native geology is proven to be homogeneous, outlined by two lithological Models (Determine 2B). Predominating in areal extent is biotite granitoid (TBT) and, to a lesser extent, within the northern portion of the world, a diorite (DRT). The chemical outcomes of each Models don’t present important variations in grade values, implying a priori the shortage of lithological management of the mineralization. Regardless that mineralized DRT tends to be richer in TREY, the extent of TBT within the space presents extra curiosity, contemplating it additionally reaches probably financial values of its exchangeable fraction. The regolith profile proven in Determine 2A is characterised not solely by its noticed geological standards (texture, alteration grade, mineral composition), but additionally by its chemical information, which helps restrict their extent, narrowing the horizon internet hosting the mineralization. Topography seems to manage the formation and preservation of the mineralized horizon, being current at totally different topographic altitudes, the place the exchangeable fraction of the mineralization is hosted at shallow depths (between the primary 10-15 m).

Because the mineralization is managed primarily by the weathering/regolith improvement as a substitute of the lithology, Determine 3A exhibits the 3D geological items, which can be used for eventual Mineral Useful resource estimation. These items are displayed within the cross part offered in Determine 3A and the map view in Determine 3B.

Determine 2. Northern Veronica Norte. (A) Cross part (A-A’) exhibiting affiliation between the lithology and regolith on the world, and a few holes displaying TREY in ppm. (B) Plan view displaying related geology and regolith extension via 3D modeling. A yellow hint line signifies the situation of the cross-section displayed in “A.” The black contour represents the delineated curiosity space that has been modeled and the white dots signify drill holes within the space. The picture exhibits that the mineralized horizon (M) discovered at Veronica Norte is managed by the event and conservation of beneficial regolith horizon at sure topographic ranges the place continuity is exhibited. The mineralization is discovered at shallow depths (roughly first 10 – 15 m from the floor).

Determine 3. Northern Veronica Norte. (A) Cross part (A-A’) displaying geological items outlined by beneficial regolith. P, upper-medium pedolith; M, medium-lower pedolith; S, upper-lower saprolith; R, saprock and bedrock. Some holes show TREY exchangeable fraction (B) Plan view displaying related geology and regolith horizons. The yellow hint line signifies the situation of the cross-section displayed in “A.” The black outcrop contour represents the delineated areas of curiosity which were modeled to this point.

Sampling and Assay Protocols