- Agriculture stock Verde AgriTech (TSX:NPK) has uncovered significant rare earths from 1,583 square-metres of historical drilling at the Balsamo target in Brazil
- Standout results include 12,487 parts per million total rare earth oxides and 3,357 ppm magnetic rare earth oxides, potentially representing one of the most important rare earths discoveries outside of China
- Verde AgriTech is a sustainable agriculture stock focused on multi-nutrient potassium fertilizers
- Verde AgriTech stock has given back 50.36 per cent year-over-year, but remains up by 15 per cent since 2019
Agriculture stock Verde AgriTech (TSX:NPK) has uncovered significant rare earths from 1,583 square-metres of historical drilling at the Balsamo target in Brazil. Highlights include:
- 12,487 parts per million (ppm) total rare earth oxides (TREO) and 3,357 ppm magnetic rare earth oxides (MREO) (AP-BD-09).
- 3,667 ppm TREO and 827 ppm MREO (AP-ND-13).
- 122 ppm dysprosium oxide and terbium oxide (DyTb) (AP-ND-05).
The discovery follows encouraging results for 743 m from the Nau de Guerra target announced in early October, with final results for 1,314 m from the Alto da Serra target expected over the coming weeks.
Verde has officially grouped these three targets under the Man of War project name. It has re-assayed 3,640 m across the targets to date and plans to release a mineral resource report in compliance with NI 43-101 and Australian JORC standards in the near future.
The agriculture stock’s mineral concessions in Brazil have already been shown to house NI 43-101 compliant measured and indicated resources of 1.47 billion tons grading 9.28 per cent potassium oxide (K2O) and inferred resources of 1.85 billion tons grading 8.60 per cent K2O.
Leadership insights
“We are excited by the continued positive results from the Balsamo target, which highlight the project’s potential as a major source of high-grade magnetic and heavy rare earth elements,” Cristiano Veloso, Verde AgriTech’s founder and chief executive officer, said in a statement. “While our sole focus remains on low-carbon fertilizers, it is hard not to get excited about the potential size and grade of this discovery. This could potentially be one of the world’s largest and most relevant rare earths discoveries outside of China.”
“Given the potential of this project and the substantial investment required for its development, the board of directors has decided that it should be advanced by an entity independent from the company,” Veloso added. “This approach will allow Verde to remain focused on its core business of fertilizers, while maximizing the value of this rare earths discovery.”
About Verde AgriTech
Verde AgriTech is a sustainable agriculture stock focused on multi-nutrient potassium fertilizers.
Verde AgriTech stock (TSX:NPK) is up by 11.29 per cent trading at C$0.69 per share as of 9:37 am ET. The stock has given back 50.36 per cent year-over-year, but remains up by 15 per cent since 2019.
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(Top photo of K2O mineralization from Verde AgriTech’s mineral concessions in Brazil: Verde AgriTech)