Share Price ASX Code: EMA

Brazil

Rare Earth Projects

Mata Da Corda Project

The Mata da Corda Project is an exploration-stage titanium and critical minerals project located in Minas Gerais State, Brazil, within the Alto Paranaíba Alkaline Province (Arco do Alto Paranaíba). The project covers more than 970 km², with the landholding expanded in June 2024. [1]

Exploration is targeting extensive weathered volcanic and lateritic profiles where titanium dioxide (TiO₂) mineralisation has been reported together with rare earth elements (REE; reported as TREO) and niobium (reported as Nb₂O₅). [1]

High-Value Mineral Suite

Work completed to date indicates potential for a multi‑commodity heavy mineral system, with the following key components:

  • Titanium (TiO₂): near‑surface titanium mineralisation reported from surface sampling and multiple drilling campaigns. [3]
  • Rare Earth Elements (REE): TREO grades reported from surface sampling and drilling, including NdPr within the REE suite. [1]
  • Niobium: Nb₂O₅ reported alongside TiO₂ and TREO in drilling, supporting potential co‑product optionality. [8]

Mineralogical test work has confirmed a titanium mineral assemblage including ilmenite, titanomagnetite, pseudorutile and leucoxene (with rutile also reported). [10]

Exploration Results and Work Programs

Surface sampling (selected highlights):

  • Up to 5,024 ppm TREO (EQ‑MC‑095), with initial sampling reporting >2,000 ppm TREO over >10 km². [1]
  • Sampling expanded with >2,000 ppm TREO over >30 km², and surface samples returning up to 18.9% TiO₂. [3]
  • Subsequent results reported up to 10,110 ppm TREO and 25% TiO₂ from surface sampling. The Company noted these samples were collected from the oxidised clay layer, and that drilling is required to confirm grade behaviour at depth. [5]
  • Additional high‑grade surface results were reported when Phase 1 RC drilling commenced. [6]

Drilling (selected highlights):

  • 52 m @ 9.8% TiO₂ from surface, including 10.2 m @ 15.0% TiO₂ and 12.2 m @ 14.7% TiO₂, plus REE intercepts such as 3 m @ 6,847 ppm TREO from surface. [7]
  • 61.2 m @ 11.89% TiO₂ from surface, including 12 m @ 15.32% TiO₂, with drilling also reporting up to 11,793 ppm TREO and 1,112 ppm Nb₂O₅. [8]
  • Continued drilling reported extensions of higher‑grade titanium intervals, including 35.8 m @ 13.9% TiO₂ from surface [11].
  • At the Pindaibas Prospect, drilling reported intercepts up to 16.17% TiO₂ from surface; subsequent diamond drilling returned intercepts up to 20.2% TiO₂. [12]
  • Final assays reported through June 2025 included intercepts up to 17.4% TiO₂, and multi‑commodity intersections such as 13 m @ 14.8% TiO₂, 3,001 ppm TREO and 870 ppm Nb₂O₅ from surface. [14]

Simple Processing, Scalable Development

Metallurgical test work reported a high heavy‑mineral content in the deslimed sand fraction (84.7% by mass of heavy minerals, SG >2.85) and described a gravity separation circuit requiring no reagents to produce a heavy mineral concentrate. [9] Mineralogical results indicate key titanium minerals are dense and/or magnetic, supporting potential for standard physical separation pathways (gravity and magnetic separation). [9]

Strategic Advantage

Mata da Corda offers:

  • Strong infrastructure access (roads, water, power)
  • Year-round field access and stable operating environment
  • Alignment with Western demand for secure, diversified critical minerals

Project location

References

  • [1] Equinox Resources Limited – “Frontier Discovery: Incredible REE Grades up to 5,024ppm TREO Discovered at Mata da Corda”, ASX Release, 1 May 2024.
  • [2] Equinox Resources Limited – “Strategic Expansion of Landholding at the Highly Prospective Mata da Corda Rare Earth Project”, ASX Release, 11 June 2024.
  • [3] Equinox Resources Limited – “More Outstanding High Grade REE Identified in Latest Surface Sample Results at Mata da Corda”, ASX Release, 25 June 2024.
  • [4] Equinox Resources Limited – “Mata da Corda drilling campaigns to commence across high grade target areas”, ASX Release, 11 July 2024.
  • [5] Equinox Resources Limited – “Ultra-High Grade REE in Clay of 10,110ppm TREO at Surface at Mata da Corda”, ASX Release, 30 July 2024.
  • [6] Equinox Resources Limited – “Further High Grade Results & Drilling Commenced at Mata da Corda”, ASX Release, 9 August 2024.
  • [7] Equinox Resources Limited – “High Grade Titanium Results Strengthen Mata da Corda’s Position Ahead of Mineral Resource Estimate”, ASX Release, 25 November 2024.
  • [8] Equinox Resources Limited – “Mata da Corda Delivers High-Grade Titanium with Niobium and Rare Earth Co-Product Potential”, ASX Release, 13 January 2025.
  • [9] Equinox Resources Limited – “84.7% Heavy Mineral Content Confirmed and Supports Simple Gravity Separation at Mata da Corda”, ASX Release, 27 March 2025.
  • [10] Equinox Resources Limited – “High Value Titanium Mineral Assemblage Confirmed at Mata da Corda”, ASX Release, 29 April 2025.
  • [11] Equinox Resources Limited – “High-Grade Titanium Intercepts Extend Mineralised Corridor at Mata da Corda”, ASX Release, 7 May 2025.
  • [12] Equinox Resources Limited – “Maiden Drilling Completed at Mata da Corda – Pindaibas Prospect delivered up to 16.17% TiO₂ from surface”, ASX Release, 23 May 2025.
  • [13] Equinox Resources Limited – “Drilling Expands High-Grade Titanium Corridor at Mata da Corda”, ASX Release, 10 June 2025.
  • [14] Equinox Resources Limited – “High-grade Titanium and Rare Earths continue at surface across Mata da Corda – Intercepts up to 17.4% TiO₂ demonstrate district scale continuity of high grade ilmenite and leucoxene”, ASX Release, 23 June 2025.