Libra Energy starts drill program at Penelope

Executive Summary

• Libra Energy Materials Inc. has commenced its maiden auger drilling program at its 100%-owned Penelope project in Minas Gerais, Brazil.
• The initial phase targets the high-priority Elena and Gaia rare-earth element (REE) prospects, aiming to assess the scale and depth potential of mineralization within the regolith profile.
• Previous surface sampling has identified significant anomalies, including up to 3,103 ppm total REEs, 8,780 ppm Nb, and 10,900 ppm Ta, supporting the project's potential as an ionic adsorption clay (IAC) and hard-rock REE deposit.

Key Details

• Drilling Program: Maiden auger drilling program initiated at the Penelope project.
• Target Areas: Initial focus on Elena and Gaia REE targets.
• Drilling Depth: Program designed to test depths of 5 to 20 meters.
• Objective: Rapidly assess scale and depth potential of REE mineralization; understand vertical distribution of REEs within the regolith profile.
• Previous Sampling Results (Gaia Pegmatite):
  • Niobium (Nb): 8,780 ppm
  • Tantalum (Ta): 10,900 ppm
• Previous Sampling Results (Elena Pegmatites):
  • Rock chip panels averaged 1,555 ppm total REEs.
  • Rock chip panels averaged 844 ppm total REEs.
• Previous Sampling Results (Shallow Reconnaissance Soil):
  • Total REEs: Up to 517 ppm.
  • Gallium (Ga): Up to 43 ppm.
  • Depth of sampling: 80 centimeters.
• Geological Context: Project hosts NYF-type (niobium-yttrium-fluorine) pegmatites and A-type granite beneath a thick, REE-enriched regolith layer.
• Qualified Person: Benjamin Kuzmich, PGeo, Vice-President of Exploration.

Notable Quotes

• "This low-cost, high-impact drill program is designed to rapidly assess both the scale and depth potential of REE mineralization across the project."
• "Libra views Penelope as a highly prospective opportunity within a region increasingly recognized for its emerging ionic adsorption clay (IAC) and hard-rock REE potential."