IMC Rare Earths Ltd announced two high-grade yttrium-rich exploration discoveries at its Itarantim ionic adsorption clay rare earth project in Brazil on October 29, 2026, reporting a 7-meter intersection at Block H and a 13-meter intersection at Block D.

Key Highlights

  • Block H intersection: Hole AD-00555 returned 7 meters at 2,052 ppm yttrium oxide (Y2O3) from 2 meters below surface, including 3 meters at 2,836 ppm and a peak one-meter sample of 3,099 ppm.
  • Block D intersection: Hole AD-00403 returned 13 meters at 1,287 ppm Y2O3 from 14 meters depth, including 3 meters at 2,464 ppm, and ended in mineralization at 27 meters.
  • Estimated yttrium extraction: Within the Block D interval, 9 meters averaged 982 ppm Y2O3 with an estimated 84% yttrium extraction.
  • Yttrium share of rare earth content: Yttrium oxide accounted for 36% of total rare earth oxides at Block H and 26% at Block D, compared with approximately 10% across the Itarantim drilling database.
  • Database ranking: Peak grades from both zones rank among the top five of more than 870 drill holes in the project database.
  • ALS laboratory limit exceeded: Six Block H samples and ten Block D samples had yttrium in the leach solution above the 500 ppm upper measurement limit; extraction percentages for these samples are estimates derived from measured extraction of other heavy rare earths.

Yttrium Discoveries at Itarantim: Block H and Block D Details

According to the filing, IMC Rare Earths Ltd (NYSE American:IMC) reported the two discoveries from its Itarantim project in the states of Bahia and Minas Gerais, Brazil. At Block H, hole AD-00555 intersected 7 meters grading 2,052 ppm Y2O3 beginning just 2 meters below surface. The filing noted that yttrium oxide accounted for 36% of total rare earth oxides across that interval, well above the median of approximately 10% in the Itarantim drilling database. Six samples within this hole exceeded the ALS leach-solution measurement limit for yttrium, and corresponding extraction percentages are estimates, not direct yttrium assay measurements, according to the filing.

At Block D, hole AD-00403 returned 13 meters at 1,287 ppm Y2O3 from 14 meters depth, with the hole ending in mineralization at 27 meters. The filing disclosed that the broader 13-meter interval also contained 1,457 ppm magnet rare earth oxides (MREO). A deeper diamond hole is planned to test mineralization beneath the hill beyond the reach of existing auger drilling. The company disclosed that all samples were submitted to ALS in Vespasiano, Minas Gerais, for rare earth and trace element analysis and ammonium sulfate leach analysis, with sample batches including blanks, field duplicates, and certified reference materials as part of its QA/QC protocol.

The filing included a cautionary statement noting that "the potential quantity and grade of the Block H and Block D yttrium zones are conceptual in nature" and that "there has been insufficient exploration to estimate a mineral resource in these areas." The company described next steps including infill and step-out drilling at Block H, diamond drilling at Block D, and metallurgical testwork at ANSTO in Australia. The scientific and technical content was reviewed by Alexandre Magno da Rocha, MSc, a Qualified Person as defined in Subpart 1300 of Regulation S-K, who the filing noted is a Director of IMC Rare Earths and is not independent of the company.

What Was Disclosed

IMC Rare Earths disclosed exploration-stage yttrium-rich intersections at two zones of its Itarantim project in Brazil, with grades ranking among the highest in a database of more than 870 holes, while cautioning that no mineral resource has been estimated and further work is required.