Juquiá Rare Element Project

Project Highlights

• Defining a Significant REE Project
  The Juquiá Complex, located in São Paulo, has emerged as a high-potential REE target, with geochemical sampling revealing anomalous TREO grades up to 1,916 ppm. This discovery highlights the immense resource potential of Juquiá, positioning it as another footprint in Enova’s REE exploration portfolio.
• Additional Prospects for Resource Expansion
  Juquiá complements Enova’s ongoing exploration in other REE targets, including CODA North and CODA Central. Juquiá project, along with untapped zones in CODA East, CODA XN, CODA XS, and CODA South, underlines the company’s commitment to unlocking large-scale resource potential across its portfolios.
• High-Value Byproducts and Multi-Metal Potential
  Beyond REEs, Juquiá offers promising indications of potential byproducts, such as phosphate and niobium enrichment.
• Strategic Advantage in Brazilian Exploration
  Enova’s experienced Brazilian exploration team brings invaluable local expertise and operational insight. Their detailed mapping and sampling efforts at Juquiá have been instrumental in identifying mineralised zones and advancing the project with efficiency and precision.
• Cost-Effective Exploration with High Upside
  Enova’s exploration strategy at Juquiá emphasises cost efficiency while targeting large-scale resource discoveries. Enova is also in discussion with a neighbouring company in regard to sourcing and procuring potential REE-enriched products in addition to its own resource base. This approach aligns with the company’s broader mission of creating value for shareholders.
• Strong Global REE Network
  Juquiá benefits from Enova’s established international rare earth expertise. The company’s directors have extensive experience in rare earth refining, technical separation, and global supply chains, providing opportunities to develop strategic alliances or leverage cutting-edge technology for refining REE resources.

The Juquiá project represents a significant step forward in Enova’s mission to build a robust REE and multi-metal portfolio, leveraging both local expertise and global partnerships to drive long-term growth and value.

Geology

The Juquiá Alkaline Complex is one of the numerous occurrences of circular complex intruded Precambrian (600-650 my) gneissic basement about 127 my ago (Amaral et al., 1967) associated with Mg-carbonatites. It has an oval, non-circular shape, with maximum diameters 6km, covering an area of about 250 hectares. It is enclosed by gneissic and migmatitic rocks and has a middle Cretaceous age around 130 million years. The primary lithology consists of olivine clinopyroxenite, nepheline syenite (Figure 7), olivine alkali gabbro, carbonatite, and monzodiorite (SGB Geological maps). The intrusive has two zones. This external is characterised by the fluidal structure of apatite crystals. The second type (internal) is ankeritic and dolomitic, with rare apatite. Accessory minerals are magnetite (Figure 8), barite, ilmenite, pyrite, monazite and pyrochlore (Walter et al., 2-8 July 1990)

Significant Results

• In July 2024, Enova completed a maiden surface geochemical survey, marking the first step in systematically evaluating the mineral potential of the project area. The results are currently being reviewed to identify priority targets for follow-up exploration and drill planning.
• Initial rock chip and soil sampling from outcrop and surface soils at the Juquiá Alkaline Complex in Sao Paulo revealed high REE anomalous grades. Significant results[1] for these sample points are provided below.
  • 1,117 ppm (JUQ-SO-0052)
  • 1,194 ppm (JUQ-SO-0036)
  • 1,222 ppm (JUQ-RO-0003)
  • 1,916 ppm (JUQ-RO-0050)
  • 1,244 ppm (JUQ-RO-0061)

Enova also hit total rare earth oxide (TREO) grade up to 6,339 ppm and multiple high anomalous assays above 2,000 ppm in the neighbouring tenements when collecting samples with permission of the tenement owner.

• The higher rare earth element (REE) anomalous assays confirm high geological prospectivity and potential high-grade exploration targets for the Juquiá Alkaline Complex project.
• Additionally, peak anomalous Nb₂O₅ levels of up to 415 ppm. Elevated concentrations of niobium oxide are significant and hold considerable interest for future exploration, resource development,

[1] Significant TREO grades assays have been calculated at nominal cut-off 1,000ppm TREO

Figure: Rock Chip Sampling was carried out at the outcrop

Figure: Coarse-grained nepheline syenite with a coarse equi-granular texture formed by the intergrowth of feldspar, nepheline, and mafic minerals

Surface Geochemical sample points and TREO anomalous assay results at Juquiá Alkaline Complex

Enova’s strategic location and neighbourhood with one of the oldest