St George Mining (ASX:SGQ) found more thick, high-grade rare earths and niobium mineralization from drilling at its Araxa rare earths and niobium project in Brazil, according to a Tuesday Australian bourse filing.
Drilling yielded 128.6 meters at 4.9% total rare earth oxides (TREO) and 0.9% niobium pentoxide from surface, including 31.3 meters at 9.1% TREO and 0.8% niobium pentoxide from 44 meters, the filing said.
Consistent high-grade mineralization supports "substantial" increase in the overall mineral resource estimate at the project, the filing added.
The company's shares gained 2% in recent Tuesday trade.