SINGAPORE, Nov. 18, 2024 (GLOBE NEWSWIRE) — Verde AgriTech Ltd (TSX: “NPK“) (OTCQX: “VNPKF“) (“Verde” or the “Company“) is pleased to announce significant drilling results from Alto da Serra target, one of the three targets of the Man of War project. Building on previously announced results from two other targets, Verde has completed the reassaying process with an additional 1,247 meters of results from Alto da Serra. This completes the analysis across the three targets, totaling 3,640 drilling meters.
Key results from the latest drilling assays include:
- 13,944 ppm TREO (AP-AD-06 1m @ [38]) and 5,222 ppm MREO (AP-AD-01 1m@ [14]);
- 4,321 ppm TREO and 1,004 ppm MREO (AP-AD-08 61m @ [28m]);
- 213 ppm DyTb (AP-ND-01 1m @ [14]);1
On October 07, 20242, the Company made the first announcement on the rare earths project, followed by an update on October 293, 2024. The project named Man of War comprises three exploration targets: Nau de Guerra, Bálsamo and Alto da Serra. All of them show significant presence of rare earths elements, which enhances the project’s potential to meet the growing demand of Magnetic Rare Earth Oxides (MREO). These elements are essential materials in green technologies such as electric vehicles and wind turbines. Neodymium (Nd2O3) is used in the production of high-efficiency permanent magnets that power electric motors, Terbium (Tb ‚„O ‚‡) enhances magnetic strength and stability, and Dysprosium (Dy ‚‚O ‚ƒ) and Praseodymium (Pr6O11) heightens these magnets’ thermal resistance, increasing their durability in extreme conditions.
“As industries worldwide seek alternatives to China’s near-total dominance in rare earths, the substantial concentrations of magnetic and heavy rare earths in all three targets of the Man of War project not only meet the high-tech sector’s growing demand for a secure, independent supply, but also reinforce the project’s strategic foundation,” stated Cristiano Veloso, Founder & CEO of Verde.
The Company reanalyzed 16 drill holes in the Alto da Serra Target (NYSE:) and results included:4
