Axel REE Limited (ASX:AXL) has secured two regulatory clearances for its planned inaugural in situ recovery (ISR) field programme at the Woolrich rare earth elements deposit within its 100%-owned Caladão Rare Earth Elements and Gallium Project in Minas Gerais, Brazil, the company disclosed on 9 November 2026.

Key Points

  • SEMAD issued a Certificate of Exemption from Environmental Licensing, confirming the REE leaching research at Caladão is not subject to State environmental licensing under COPAM Normative Deliberation No. 217/2017.
  • IGAM issued a Certificate of Registration for Insignificant Water Use for the Woolrich field programme for a period of three years.
  • The planned programme will trial magnesium sulphate-based ISR on ionic adsorption clay REE mineralisation under controlled field conditions.
  • Woolrich hosts a JORC (2012) Mineral Resource of 264.6Mt at 1,101ppm TREO, including a 110.1Mt Indicated Resource at 1,073ppm TREO.
  • Woolrich is one of four deposits within the Caladão Project, which carries a global Mineral Resource Estimate of 708.6Mt at 1,443ppm TREO.

Regulatory Clearances for the Woolrich ISR Field Programme

The Jequitinhonha Regional Environmental Regularisation Unit of the Minas Gerais State Department of Environment and Sustainable Development (SEMAD) issued the Certificate of Exemption from Environmental Licensing, confirming the proposed REE leaching research is not subject to State environmental licensing under COPAM Normative Deliberation No. 217/2017. The Instituto Mineiro de Gestão das Águas (IGAM) separately issued a Certificate of Registration for Insignificant Water Use covering the field programme for three years. Axel noted it remains responsible for obtaining any other authorisations that may be required, including those relating to permanent preservation areas, vegetation clearance, and any applicable municipal requirements.

Programme Objectives at Woolrich Deposit

The planned Woolrich ISR field programme is intended to evaluate the performance of magnesium sulphate-based ISR under controlled field conditions. According to the filing, the programme will seek to generate site-specific technical information to support the assessment of ISR performance, including solution movement through the mineralised regolith and the recovery of REE-bearing solutions. The clearances support the company's progression from laboratory-scale metallurgical investigations to field-scale evaluation of ISR under representative conditions. Managing Director Dr Patience Mpofu said the field programme results will generate important technical data to inform future ISR operations.

Caladão Project Mineral Resource Position

Woolrich is described in the filing as the company's priority deposit for development and field validation of its proposed magnesium sulphate ISR pathway. The deposit's JORC (2012) Mineral Resource Estimate stands at 264.6Mt at 1,101ppm TREO, comprising a 154.51Mt Inferred Resource at 1,120ppm TREO and a 110.08Mt Indicated Resource at 1,073ppm TREO. The Caladão Project's total global Mineral Resource Estimate, encompassing the Woolrich, Caladão Area A, Marambaia, and Tiger Creek deposits, is 708.6Mt at 1,443ppm TREO. The project is located in Brazil's Lithium Valley region of Minas Gerais.