Current October update · English technical context
品位吸引关注;回收率决定其价值是否成立。
The combined assay compilation covers 879 holes and 7,468.8 assayed metres at the 25 September 2026 cutoff. It includes prior results and complete or partial assay coverage; it is not all-new drilling or gross physical drilling.
MAV_RC_0063 returned 30 metres from surface at 1,853 ppm MREO. Selected cumulative auger profiles include 8 metres at 2,194 ppm MREO in MAV_AD_0691 and 11 metres at 2,179 ppm MREO in MAV_AD_0639.
Reporting of the SGS bench-scale results is the next milestone, after results reconciliation and technical review. No numerical results from this programme are disclosed here. An optimised flowsheet and commercial recovery have not been established; timing and outcomes are not guaranteed.
Older translated project chapters are retained below as dated context, not as the October update. Updated technical translation is not asserted.
Dated translated context · issued-source chapter through 8 September 2026
诊断性筛选测量了什么
从选定的黏土样本到溶液分析。
筛选测量了初始浸出液中的稀土浓度,并为有代表性的回收工作设定了起点。
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01固体投料选定矿段样品
经制备和筛分的实验室物料。总原矿化验值是对固体样品的另一项独立测量。
原矿化验矩阵 · 固体中 ppm -
02定义条件单次实验室接触
铵离子在一个说明的试验条件下与一些表面附着的稀土离子进行交换。
诊断测试 · 并非工厂流程图 -
03液体产出初始浸出液
接触后的液体作为 PLS 收集。它是测试溶液,而不是产品。
固体残渣 · 完整质量平衡所需 -
04测量结果ICP-MS 溶液分析
在 PLS 中测得的元素以氧化物当量 DREO 总量表示,其中包括 MREO 子集。
诊断结果 · mg/kg PLS
在所述条件下,部分稀土元素进入溶液,为精选测试样品中的离子吸附行为提供支持。
提取率或回收率、代表性、完整质量平衡、商业流程图、产品规格或项目经济性。
精选诊断性筛选;未经优化。DREO = 可解吸稀土氧化物。MREO = Nd、Pr、Dy 和 Tb 的氧化物。来源:SGS 证书 GQ2509212 及 2025 年 10 月 21 日技术披露。溶液浓度不等于回收率。
精选浅部诊断性浸出结果
Figure 2 · issued English-source graphic and technical context · 6 October 2026

Magnet and heavy rare earths gain share in solution. Figure 2 from the 6 October 2026 release: four selected 2025 trench intervals, plus a later auger interval. HREO represented 6.6–12.1% of the dissolved rare-earth mix, compared with 3.0–4.1% in the original samples.
These are composition shares, not extraction recovery or an increase in absolute solution concentration. MREO and HREO overlap through DyTb and must not be added. Selected diagnostic tests are separate from the current SGS bench programme and do not establish an optimised flowsheet or project-wide recovery.
Read the graphic values as a table
| Selected interval | MREO · original | MREO · dissolved | HREO · original | HREO · dissolved | HREO share multiple |
|---|---|---|---|---|---|
| PT-34 · 0–1 m | 23.7% | 41.9% | 3.3% | 9.3% | 2.81× |
| PT-34 · 1–2 m | 25.3% | 41.6% | 4.1% | 10.9% | 2.68× |
| PT-36 · 0–1 m | 22.2% | 41.6% | 3.0% | 6.6% | 2.20× |
| PT-42 · 0–1 m | 23.8% | 43.6% | 3.9% | 8.2% | 2.09× |
| MAV_AD_0002 · 2–3 m (later auger) | 26.3% | 48.1% | 3.6% | 12.1% | 3.34× |
Later auger interval DyTb share: 0.94% → 2.08%. Shares and multiples use unrounded oxide totals; below-detection values use half the detection limit. SGS ICM694: 0.5 M ammonium sulphate, initial pH 4, 30 minutes. MREO comprises Nd, Pr, Dy and Tb oxides; HREO comprises Y, Dy, Tb, Ho, Er, Tm, Yb and Lu oxides. The graphic panels use different scales.
Diagnostic composition · October source basis
These are the five selected historical diagnostic intervals, not the seven geological samples in the separate SGS bench-scale programme. Values describe desorbed oxide equivalents on the laboratory mg/kg reporting basis—not increased absolute solution concentration or recovery.
| Interval | MREO (mg/kg) | DREO (mg/kg) | MREO share of DREO |
|---|---|---|---|
| PT-34 · 0–1 m | 161 | 384 | 41.9% |
| PT-34 · 1–2 m | 240 | 578 | 41.6% |
| PT-36 · 0–1 m | 278 | 667 | 41.6% |
| PT-42 · 0–1 m | 167 | 383 | 43.6% |
| MAV_AD_0002 · 2–3 m | 237 | 492 | 48.1% |
The October source reports PT-34 0–1 m DREO using half detection limits; the reconciled figure is shown above, while the earlier graphic remains unchanged in the dated archive below. MREO and HREO overlap through DyTb and must not be added. Composition is not extraction recovery or commercial process performance.
Historical diagnostic graphic and technical plate · original reporting basis
This is the unchanged earlier illustration, not the October source table or the new SGS bench results. Its original reporting basis must be read in that dated context.

Accessible data transcript (HTML)
Five selected shallow intervals tested using SGS ICM694: 0.5 M ammonium sulphate, nominal pH 4 and 30 minutes.
| Interval | MREO in solution | DREO in solution | MREO share of DREO |
|---|---|---|---|
| PT-34 · 0-1 m | 161 mg/kg | 383 mg/kg | 41.9% |
| PT-34 · 1-2 m | 240 mg/kg | 578 mg/kg | 41.6% |
| PT-36 · 0-1 m | 278 mg/kg | 667 mg/kg | 41.6% |
| PT-42 · 0-1 m | 167 mg/kg | 383 mg/kg | 43.6% |
| MAV_AD_0002 · 2-3 m | 237 mg/kg | 492 mg/kg | 48.1% |
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.
从化验到可计价性
从岩石到收入的五种不同度量法。
每个步骤回答不同的问题:从物料中含有什么,到能够回收、制成并销售什么。
- 01
原矿品位
原始固体样品在加工前所含的成分。6 月钻探结果属于原矿品位化验。
- 02
诊断性溶液结果
在一项条件明确的实验室测试中进入溶液的部分。精选 2025 年测试即处于这一阶段。
- 03
提取率或解吸率
原始元素总量中转移至溶液的实测比例,并以样品质量、溶液体积和质量平衡为依据。
- 04
全流程回收率
经过各工艺阶段后进入既定产品的比例,包括损失和循环物料流。
- 05
可计价回收率
在考虑产品规格、杂质和商业扣减后,客户愿意支付对价的部分。
如果缺少原始样品质量、溶液体积、固液比和完整质量平衡,就不能用固体原矿化验值除以溶液中以 mg/kg 报告的浓度来计算回收率。
Dated translated context · issued-source chapter through 8 September 2026
流程
建立完整工艺流程图。
代表性工作将核对给料、溶液、残渣、损失和选定产品路线中的稀土与杂质质量平衡。

实验室不同组分的概念示意图,并非测试结果。图中不表示数量,也不能据此确定回收率。
辐射证据
建立完整的放射性特征全貌。
在三个精选 2025 年初始浸出液结果中,铀在每项结果中均低于 0.04 mg/kg;钍分别报告为 2.59 mg/kg、低于 0.20 mg/kg 和 2.92 mg/kg。
下一步是在完整质量平衡和适当放射性测量的基础上,对代表性给料—溶液—残渣—产品进行表征。
产品路径
首先定义一个产品,然后测试一个客户是否可以使用它。
投资逻辑
参见冶金如何改变投资逻辑。
代表性回收率、杂质情况和产品定义将决定地质结果中有多少能够转化为商业价值。
看看有什么变化