Viridis Mining and Minerals (ASX:VMM) completed an infill drilling campaign aimed at updating the mineral resource estimate for the Colossus rare earth project in Brazil, according to a Friday Australian bourse filing.

The campaign was primarily focused on the Northern Concessions prospect to convert indicated and inferred resources into the measured category.

It encountered intercepts of eight meters at 7,076 parts-per-million grade of total rare earth oxides, including 167 ppm grade of dysprosium-terbium, as well as 16 meters at 7,434 ppm grade of total rare earth oxides, including 188 ppm grade of dysprosium-terbium.

Its shares fell 2% in recent trading on Friday.