Viridis Mining and Minerals (ASX:VMM) said drilling results from the Northern Concessions of its Colossus Project in Brazil support resource upgrade, development optionality, and growth strategy, according to a Tuesday Australian bourse filing.

The results were of up to 12 metres at 6,082 parts per million (ppm) total rare earth oxide (TREO), including four metres at 10,520 ppm TREO, and 4,857 ppm magnet rare earth oxides (MREO).

The results, which have targeted pit feed areas used in the pre-feasibility study (PFS), have delivered grades exceeding those previously modelled in the block model, supporting expectations of a "significant" feed-grade uplift in the upcoming resource update, and show opportunities for improvement in project economics.

The company said that several project initiatives and studies are advancing in parallel to support engineering and processing workstreams, including geotechnical investigations and in-situ density determination.