TORONTO, ON / ACCESSWIRE / December 13, 2022 / Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to provide an update on its greenfield exploration.
In parallel with the development of the Penco Module, the Company intends to define additional opportunities to increase potential future rare earth element production via intensive greenfield exploration programmes and the development of additional project "modules" within the Company's concessions.
Summary of 2022 Exploration Activities
Based on the results of the mapping and sampling works performed in 2021, the Company identified the presence of regolith formations and rare earth element mineralization within the Veronica, Catalina and Petronila districts. The initial success from the mapping exploration works was complemented by a multi-element geophysics radiometry and magnetometry fly-over that covered most of the Company´s mining concessions (6,017 km2). Survey results were delivered at the end of the first quarter of 2022 and resulted in the generation of new prospective targets throughout the Company´s concessions package.
During Q2, Q3 and Q4 2022, further geological and regolith mapping was carried out in the Petronila and Veronica districts, where over 40,000 hectares of mining concessions were assessed for the presence of mineralization. This is associated with the geochemical analysis of superficial samples which has identified new areas of interest for a sonic drilling campaign and resulted in total of 28 targets being proposed for further drilling.
As at YTD 2022, a total of 125 holes and 3,787 metres have been drilled within the Veronica District as part of the Company's 2022 greenfield exploration initiative. Preliminary results indicate continuity of mineralization with drill hole spacing of between 35 meters and 300 meters and shows mineralization occurring at a depth of between 2 and 10 meters below the surface. The Company intends to report the results of this drilling campaign in the first quarter of 2023.
2023 Exploration Activities
The Company is excited to present a robust budget of US$5.9 million to fund ongoing exploration activities within the Veronica and Petronila districts in 2023 to support its aspiration of adding additional modules to the current Penco module.
In addition, the Company has recently decided to initiate Ionic Clays prospectivity exploration in other countries within South America, including Brazil, Colombia and Peru, which will be assessed in 2023 for future drilling campaigns.
Ramón Barúa, CEO of Aclara, commented: "We are very pleased to move forward with our strategy of becoming a multi-module company. In 2022, we have been able to refine our exploration techniques and develop our capacity to deploy exploration teams in different parts of our concession areas, resulting in promising drilling outcomes in areas where the geological potential is attractive. We look forward to 2023 for further developing new modules optionality."
Qualified Person and Review of Technical Information
The technical information in this news release, with respect to the Company's exploration projects, has been reviewed and approved by Barry Murphy, Pr ENG, Chief Operating Officer of the Company, and a Qualified Person under NI 43-101.
Aclara Resources is a Rare Earths company with a development project in Chile, and is listed on the TSX (TSX:ARA).
Aclara is initiating the development of its resources through a project called the Penco Module, which covers a surface area of approximately 600 hectares, and which hosts ionic clays rich in rare earth elements. Aclara is currently focused on the development and future construction and operation of the Penco Module, which will aim to produce a rare earth concentrate through a processing plant that will be fed by clays from nearby deposits. Aclara's extraction process offers several environmentally positive attributes such as: no blasting, crushing, or milling; no tailings facility; minimal water consumption due to a high level of water recirculation; is amenable to leaching with a fertilizer; and contains no radioactivity. In parallel with the development of the Penco Module, the Company intends to define additional opportunities to increase potential future rare earth element production via intensive greenfield exploration programmes and the development of additional project "modules" within the Company's concessions.
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to the Company's greenfield exploration plan, the timing and execution thereof and expected success resulting therefrom. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 30, 2022 filed on the Company's SEDAR profile. Actual results, timing, performance, achievements or future events or developments could differ materially from those expressed or implied herein.Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expresslyrequired under applicable securities laws.
For further information, please contact:
Chief Executive Officer
SOURCE: Aclara Resources Inc.