IMC Rare Earths Ltd filed an 8-K press release on November 5, 2026, announcing a new diamond drilling program at 29 Block D plateau locations and progress on a WSP-led in-situ recovery field trial at its Itarantim project in Brazil.

Key Highlights

  • 29 drilling locations targeted: Diamond drilling is commencing in mid-November at 29 widely spaced Block D plateau locations to investigate mineralization beyond the 30-meter depth limit of existing mechanical auger drilling.
  • WSP leading ISR field program: Global engineering consultancy WSP is planning and operating the small-scale in-situ recovery field program at Block A, with injection testing expected to begin in Q1 2027.
  • 37 groundwater monitoring wells: A program to install 37 groundwater monitoring wells is underway across the project, combining new holes with converted auger holes.
  • University of Brighton testing 16 samples: The University of Brighton is testing 16 Block D samples under Professor Martin Smith's supervision to examine mineral composition and rare earth recovery using magnesium sulfate.
  • Previously reported extraction rates: IMC previously reported laboratory extraction of 73% of the rare earth elements tested (excluding cerium), including 71.4% terbium and 70.5% dysprosium, using acidified magnesium sulfate (September 22, 2026 news release).
  • Expanded local operations: Nine auger teams are operating across the project, with over 100 Brazilian workers engaged and four warehouses leased in Itarantim.

IMC Rare Earths Advances Itarantim Project With Deeper Drilling and ISR Field Trials

According to the filing, IMC Rare Earths Ltd (NYSE American:IMC) is launching a diamond drilling program at its Itarantim project in the states of Bahia and Minas Gerais, Brazil. The program targets 29 widely spaced Block D plateau locations where the weathered rock and soil layer is interpreted to be thickest, with drilling designed to extend approximately 5-10 meters into bedrock, subject to geological conditions. The company disclosed that access work and drill pad construction are underway, and additional drilling is planned beyond the initial 29 locations.

The filing notes that hole AD-00403, as announced on October 29, 2026, returned 13 meters at 1,287 ppm Y2O3 from 14 meters depth and ended in mineralization at 27 meters. The new diamond drilling program will investigate the deeper continuation of that hole and assess the thickness, continuity, and grade distribution of mineralization beneath the plateau. The company stated that "positive results could have a significant impact on the scale and grade profile of a future resource assessment in 2027, subject to drilling outcomes and appropriate resource estimation work," while also noting that deeper drilling "does not establish an increase in mineral resource size or grade."

On the recovery side, WSP, which the filing describes as ranked first in Engineering News-Record's 2025 Top 225 International Design Firms, is overseeing the Block A ISR field program. The filing explains that unlike conventional mining, ISR involves injecting a solution underground to dissolve target minerals for surface processing, with suitability depending on permeability, hydraulic control, solution recovery, and groundwater protection. The company disclosed that the forward-looking statements in the release, including anticipated study outcomes and trial schedules, are subject to risks including geological variability, differences between laboratory and field performance, and access to funding, among others listed in the filing.

What Was Disclosed

IMC Rare Earths disclosed a new diamond drilling program at 29 Block D locations, WSP's leadership of a Block A ISR field trial targeting Q1 2027 injection testing, University of Brighton sample testing, and expanded local operations at the Itarantim project in Brazil.