Magnes Rare Earths' First RC Results Return 29 m at 0.58% TREO to 60 m Depth; Auger Hole Returns 15 m From Surface at 1.15% TREO
Verde Agritech confirms depth and grade continuity in incremental drill results ahead of its year-end maiden resource estimate.
Magnes Rare Earths, a wholly owned subsidiary of Verde Agritech Ltd (NPK), has released assay results from 146 additional drill holes totaling 1,299 meters at the Minas Americas project in Brazil. This latest data brings the cumulative reported drilling to 443 holes and 3,628.8 meters.
The release highlights the first reverse-circulation (RC) drilling results, extending the dataset to a depth of 60 meters and identifying broad, higher-grade intervals below the auger reach. Notable intercepts include 29 meters at 0.58% total rare earth oxides (TREO) from 31 meters to 60 meters. Additionally, a new full-hole auger benchmark was reported, with hole MAV_AD_0375 returning 15 meters from surface at 1.15% TREO.
The company confirmed the presence of heavy rare earths, specifically Dysprosium-Terbium, in the RC intervals, which supports the magnet-grade thesis. Verde Agritech reiterated its development milestones, targeting maiden S-K 1300 and NI 43-101 mineral resource estimates before the end of 2026, with a Preliminary Economic Assessment (PEA) scheduled for the first half of 2027.
Verde Agritech Ltd (NPK) released an incremental exploration update that confirms the technical thesis regarding depth continuity and grade presence, though the announcement does not alter the company's development timeline or financial outlook. The market has already priced in the maiden resource estimate timeline, with the stock trading in a tight $0.70–$0.90 range since June 2026.
There is no new capital raise, guidance change, or operational milestone deviation associated with the release.
Verde Agritech Ltd (NPK) is an agricultural technology company focused on sustainable, low-carbon specialty fertilizers derived from glauconitic siltstone. Its primary products include K Forte® (Super Greensand®) and BAKS®, which target the Brazilian and global agricultural markets. The company operates a fully vertically integrated fertilizer facility with up to 3 million tonnes per year of installed capacity, requiring zero additional capital expenditure to reach full scale.
In addition to its fertilizer operations, Verde Agritech holds and advances the Minas Americas Global Alliance rare earth project in Minas Gerais, Brazil, through its subsidiary Magnes Rare Earths. The company’s jurisdiction in Minas Gerais features existing infrastructure, laboratories, and drilling rigs on-site.