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Minas Americas · Metallurgy and product pathway

Grade attracts attention. Recovery decides whether it matters.

Minas Americas has reported head-grade assays and an initial diagnostic solution response. The next phase will measure representative extraction, impurity behaviour, mass balance and the route to a potential product.

See the five distinct measures Read the diagnostic releaseCompare deposit routes

What the diagnostic screen measured

From selected clay sample to solution analysis.

The screen measured rare-earth concentrations in primary leach solution and set the starting point for representative recovery work.

Initial laboratory diagnostic · selected 2025 intervals
SGS ICM694 0.5 M (NH₄)₂SO₄ Initial pH 4.00 30-minute contact Single diagnostic screen
  1. Selected prepared clay sample Layered clay particles with rare-earth ions shown on the particle surfaces.
    01Solid input
    Selected interval sample

    Prepared, screened laboratory material. The total head assay is a separate measurement of the solid.

    Head assay matrix · ppm in solid
  2. Single mild laboratory contact A laboratory vessel containing clay and ammonium sulphate solution, with rare-earth ions shown entering the liquid.
    02Defined condition
    Single laboratory contact

    Ammonium ions exchange with some surface-bound rare-earth ions under one stated test condition.

    Diagnostic test · not a plant flowsheet
  3. Primary leach solution separated from solid residue The test separates a liquid primary leach solution for analysis and a solid residue needed for a complete mass balance.
    03Liquid output
    Primary leach solution

    The liquid after contact is collected as PLS. It is a test solution, not a product.

    Solid residue · required for full mass balance
  4. Elemental analysis of the primary leach solution An analytical readout records rare-earth and other element concentrations in the primary leach solution.
    04Measured result
    ICP-MS solution analysis

    Elements measured in PLS are expressed as oxide-equivalent DREO totals, including the MREO subset.

    Diagnostic result · mg/kg of PLS
What the screen supports

Some rare-earth elements entered solution under the stated condition, supporting ionic-adsorption behaviour in the selected tested samples.

What it does not establish

Extraction or recovery percentage, representativeness, complete mass balance, a commercial flowsheet, a product specification or project economics.

Selected diagnostic screening; not optimised. DREO = desorbable rare-earth oxides. MREO = Nd, Pr, Dy and Tb oxides. Sources: SGS certificate GQ2509212 and technical disclosure dated 21 October 2025. Solution concentration is not recovery.

Selected shallow diagnostic leach results

Magnet-Rich in Solution. Five selected shallow SGS diagnostic intervals compared on one common zero-to-700 milligram-per-kilogram scale, with magnet rare-earth oxides highlighted within DREO in solution.
Five selected shallow intervals were tested using the same SGS ICM694 diagnostic method: 0.5 molar ammonium sulphate, nominal pH 4, for 30 minutes. PT-34 from zero to one metre returned 161 milligrams per kilogram MREO in 383 milligrams per kilogram DREO, a 41.9 percent magnet share. PT-34 from one to two metres returned 240 milligrams per kilogram MREO in 578 milligrams per kilogram DREO, a 41.6 percent magnet share. These are two consecutive one-metre intervals from surface. PT-36 from zero to one metre returned 278 milligrams per kilogram MREO in 667 milligrams per kilogram DREO, a 41.6 percent magnet share. PT-42 from zero to one metre returned 167 milligrams per kilogram MREO in 383 milligrams per kilogram DREO, a 43.6 percent magnet share. A later shallow-auger test, MAV_AD_0002 from two to three metres, returned 237 milligrams per kilogram MREO in 492 milligrams per kilogram DREO, a 48.1 percent magnet share. Across the five selected intervals, MREO represented 22.2 to 26.3 percent of TREO in the original samples and 41.6 to 48.1 percent of DREO in solution. This is a composition comparison, not recovery. Each displayed value is a solution concentration, not a recovery percentage. DREO means total desorbable rare-earth oxides expressed as oxide equivalents; MREO comprises the neodymium, praseodymium, dysprosium and terbium oxides. Values are on the laboratory reporting basis. The tests were diagnostic, not optimised, and the results are selected.
Inspect the five selected results and common scale at full resolution.
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The same selected-result data is provided in accessible HTML in the figure description on this page.
Accessible data transcript (HTML)

Five selected shallow intervals tested using SGS ICM694: 0.5 M ammonium sulphate, nominal pH 4 and 30 minutes.

Magnet rare-earth oxides within DREO in solution
IntervalMREO in solutionDREO in solutionMREO share of DREO
PT-34 · 0-1 m161 mg/kg383 mg/kg41.9%
PT-34 · 1-2 m240 mg/kg578 mg/kg41.6%
PT-36 · 0-1 m278 mg/kg667 mg/kg41.6%
PT-42 · 0-1 m167 mg/kg383 mg/kg43.6%
MAV_AD_0002 · 2-3 m237 mg/kg492 mg/kg48.1%

Selected diagnostic results, not optimised or representative recovery tests. Values are solution concentrations, not recovery percentages. MREO comprises Nd, Pr, Dy and Tb oxides; DREO is expressed on an oxide-equivalent basis.

From assay to payability

Five distinct measures from rock to revenue.

Each step answers a different question, from what is present to what can be recovered, made and sold.

  1. 01

    Head grade

    What the original solid sample contains before processing. The June drilling results are head-grade assays.

  2. 02

    Diagnostic solution result

    What dissolved under one defined laboratory test. This is where the selected 2025 work sits.

  3. 03

    Extraction or desorption percentage

    The measured share of the original inventory transferred into solution, supported by sample mass, solution volume and mass balance.

  4. 04

    Full flowsheet recovery

    The share reaching a defined product after each process stage, including losses and recycle streams.

  5. 05

    Payable recovery

    The portion for which a customer would pay after specifications, impurities and commercial deductions.

A solid head assay and a concentration reported in mg/kg in solution cannot be divided to calculate recovery without the original sample mass, solution volume, solids-to-liquid ratio and complete mass balance.

See how binding state changes the front-end route

Process streams

Build the complete flowsheet picture.

Representative work will reconcile rare earths and impurities across feed, solution, residue, losses and the selected product route.

  1. 01
    Head grades reported

    Feed material

    Build representative process composites from the drill record and mineralogy.

  2. 02
    Selected screen reported

    Primary leach solution

    Rare-earth concentrations were measured after one stated ammonium-sulphate test. Use this response to design representative recovery work.

  3. 03
    Mass balance required

    Residue and other streams

    A complete mass balance must show where rare earths, uranium, thorium and other impurities report.

  4. 04
    To be defined

    Potential product

    Select the strongest route to an intermediate, separated product or downstream partner interface.

Rare earths in solution; uranium below the laboratory detection limit in all three selected results. The exact uranium and thorium concentrations are shown for PT-36, PT-34 and PT-42.
In three selected 2025 primary leach solutions, uranium was reported below 0.04 mg/kg in every result; thorium was reported at 2.59 mg/kg, below 0.20 mg/kg and 2.92 mg/kg. The selected intervals were PT-36 from zero to one metre, with 667 milligrams per kilogram DREO, uranium below 0.04 milligrams per kilogram and thorium at 2.59 milligrams per kilogram; PT-34 from one to two metres, with 578 milligrams per kilogram DREO, uranium below 0.04 milligrams per kilogram and thorium below 0.20 milligrams per kilogram; and PT-42 from zero to one metre, with 383 milligrams per kilogram DREO, uranium below 0.04 milligrams per kilogram and thorium at 2.92 milligrams per kilogram. SGS Geosol used method ICM694: 0.5 molar ammonium sulphate, initial pH 4 and 30 minutes, with ICP-OES and ICP-MS measurement. DREO is oxide-equivalent; uranium and thorium are reported as elemental concentrations. A less-than sign means below the stated laboratory detection limit, not zero. Selected diagnostic solution results, not a resource-average or representative radiological dataset. The concentrations do not characterise uranium or thorium in the feed, residue, water, workplace, potential product or property as a whole and do not establish transfer, recovery, mass balance, total radioactivity, product specification, environmental safety or commercial performance.
Inspect all three selected U and Th results at full resolution.An equivalent accessible HTML data transcript is provided immediately below.
Accessible data transcript (HTML)

Selected SGS ICM694 primary leach solution results: 0.5 M ammonium sulphate, initial pH 4 and 30 minutes.

Uranium, thorium and DREO results for the three selected intervals
IntervalDREO in PLSUraniumThorium
PT-36 · 0-1 m667 mg/kg<0.04 mg/kg U2.59 mg/kg Th
PT-34 · 1-2 m578 mg/kg<0.04 mg/kg U<0.20 mg/kg Th
PT-42 · 0-1 m383 mg/kg<0.04 mg/kg U2.92 mg/kg Th

A less-than sign means below the SGS laboratory detection limit, not zero. DREO is oxide-equivalent; U and Th are elemental concentrations. Selected diagnostic solution results, not a resource-average or representative radiological dataset. The concentrations do not characterise uranium or thorium in the feed, residue, water, workplace, potential product or property as a whole and do not establish transfer, recovery, mass balance, total radioactivity, product specification, environmental safety or commercial performance.

Radiological evidence

Build the complete radiological picture.

In three selected 2025 primary leach solutions, uranium was reported below 0.04 mg/kg in every result; thorium was reported at 2.59 mg/kg, below 0.20 mg/kg and 2.92 mg/kg.

The next step is representative feed–solution–residue–product characterisation with a complete mass balance and appropriate radiological measurements.

DATED SOURCESelected diagnostic screeningPROJECT DILIGENCERadiological work programmeINVESTOR EDUCATIONTechnical questions answered

Product pathway

First define a product. Then test whether a customer can use it.

Representative mineralogy, element-by-element extraction, impurity behaviour and mass balance must come before a defensible product concept.

Only then can Magnes and potential partners assess purification, separation, qualification, realised pricing, capital and operating implications.

Discuss a relevant capability

Investment case

See how metallurgy changes the thesis.

Representative recovery, impurities and product definition will determine how much of the geological result can matter commercially.

See what changes the thesis