Meteoric Unveils Major Boost to Brazilian Rare Earths Resource Estimate

Meteoric Resources NL (ASX: MEI) has unveiled a major boost to its flagship Caldeira Rare Earth Element (REE) Project in Brazil, with the release of a maiden Mineral Resource Estimate (MRE) for the Barra do Pacu (BDP) licence.

The new BDP resource adds 389 million tonnes (Mt) at 2,204 parts per million (ppm) Total Rare Earth Oxides (TREO), including 77Mt of Indicated Resource at a higher-grade 2,917ppm TREO. Notably, a high-grade zone within BDP shows 32Mt at 4,130ppm TREO—one of the most concentrated REE grades in global ionic clay deposits.

This latest development lifts the global Caldeira Project resource to 1.5 billion tonnes (Bt) at 2,359ppm TREO, containing key magnet REEs such as praseodymium, neodymium, terbium, and dysprosium. The measured and indicated portion now stands at 666Mt at 2,685ppm TREO, including 22.5% magnetic REO content—critical materials in EVs, wind turbines, and defence applications.

“This resource estimate effectively doubles the Indicated Resource within 1,000 meters of our proposed processing plant,” said Meteoric Managing Director Stuart Gale. “It reinforces Caldeira as a future cornerstone in the global supply chain for strategic rare earths.”

Western Desire to Diversify Supply

The update follows closely on China’s April 4 move to expand export controls over certain heavy and medium rare earths—further intensifying pressure on Western countries and companies to secure alternative sources. BDP adds materially to Meteoric’s inventory of elements subject to the new restrictions, including 6,117 tonnes of terbium oxide and 32,057 tonnes of dysprosium oxide.

Geologically, BDP is interpreted as a southern extension of the high-grade Capão do Mel orebody. The two areas now comprise over 150Mt of high-grade resource above 3,000ppm TREO, with more than 20% magnetic rare earth content. This zone will anchor the company’s upcoming Pre-Feasibility Study, expected to chart the path toward low-cost, scalable development.

The resource estimate is based on nearly 7,000 meters of aircore and diamond drilling, with mineralisation starting at surface and thickening southward. The project retains significant exploration upside, including potential for zones with even higher concentrations of magnet REEs.

What is an Ionic Clay Deposit?

An ionic clay deposit is a type of rare earth element (REE) resource where rare earths are loosely bound to clay minerals in ionic form, rather than locked in hard rock. Found mainly in weathered granite in tropical regions like southern China, these deposits are particularly rich in valuable heavy rare earth elements (HREEs) such as dysprosium and terbium.

Although typically low grade, they are economically attractive because the REEs can be easily extracted using mild chemical solutions, without the need for intensive mining or processing. China currently dominates this space, but countries like Brazil, Myanmar, and Australia are actively exploring similar deposits to diversify global supply.