High grade ionic absorption clay magnetic rare earths mineralization found in Verde’s historical drill holes
Verde will explore ways to generate shareholder value from this opportunity while remaining committed to its focus on fertilizers
Singapore. Verde AgriTech Ltd (TSX: “NPK”) (OTCQX: “VNPKF”) (“Verde” or the “Company”) is pleased to announce that 4,708 hectares of its mineral concessions are prospective for Magnetic Rare Earths (“MRE”) mineralization. MREs, which in Verde’s find include Praseodymium (“Pr”), Neodymium (“Nd”), Dysprosium (“Dy”), and Therbium (“Tb”), are in high demand due to their critical role in the energy transition. These elements are essential components in the production of high-performance magnets used in electric vehicles, wind turbines, and other green technologies, positioning Verde as a strategic player in supporting the global shift towards renewable energy solutions.
“We are thrilled by the potential we have uncovered in the Magnetic Rare Earth elements and are committed to conducting thorough work to fully understand their scope and application. Verde remains focused on its fertilizer business and will investigate alternatives to generate shareholder value from those concessions”, confirmed Cristiano Veloso, Verde’s Founder and CEO.
Verde has initiated the re-assaying of select historical drill holes within a geological formation previously explored for phosphate. This strategic decision aligns with evolving market dynamics in the rare earth elements (“REE”) sector, driving Verde to reevaluate historical exploration data with a new focus on potential REE mineralization. As global demand for REEs intensifies, particularly due to their essential role in renewable energy technologies, Verde aims to further investigate the presence of high-value magnetic rare earths within its concessions.
Verde has 3,640 meters of historical diamond drilling covering the same geological formation where those outstanding results were uncovered. The Company has resampled those drill cores under supervision of independent Qualified Person (“QP”) João Batista Guimarães Teixeira. The Company expects to report those results shortly and, if warranted by results, will undertake a resource calculation.
“No matter how exciting this discovery is, it will not distract Verde from realizing its potential as a leading low carbon sustainable Fertilizer supplier. The evaluation work is being cost efficiently undertaken with a clear proposition to generate shareholder value without generating any undue distraction to our team”, stated Cristiano Veloso, Verde’s Founder and CEO.
Qualified Person
The information in this announcement that relates to exploration results is based on information reviewed, collated and fairly represented by QP Dr. João Batista Guimarães Teixeira. Dr. Teixeira holds a PhD in Geosciences from Pennsylvania State University (USA), an MSc in Economic Geology from the Federal University of Bahia (Brazil), and a BSc in Geology from the University of São Paulo (Brazil). He has held key roles at VALE’s exploration branch, DOCEGEO, including geologist, senior geologist, and Project Manager, leading projects on geological mapping, drilling, and economic evaluation of iron deposits at Serra dos Carajás, gold, base metals, and bauxite exploration in the Amazon, and copper exploration in high-grade terrains across Brazil. In 1998, he joined the Metallogeny Group at the Federal University of Bahia, first as an invited researcher and later as an associate professor. Currently, he is an independent consulting geologist specializing in gold, iron, and nickel deposits, with numerous publications in international journals such as Mineralium Deposita, Economic Geology, Precambrian Research, and Ore Geology Reviews. Dr. Teixeira has been a member of the Association of Professional Geoscientists of Ontario (APGO) since 2007 and became a Fellow of the Society of Economic Geologists in 2014. Dr. Teixeira is a recognized Qualified Person (QP) under Canada’s NI 43-101 standards.
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