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Aclara Resources awards Carina Module pre-feasibility study to Hatch

May 08, 2024 at 08:53 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Aclara Resources Inc (TSX:ARA, OTC:ARAAF) chief operating officer Barry Murphy joined Proactive's Stephen Gunnion with news that the company has contracted global multidisciplinary consultancy firm Hatch to complete the prefeasibility study (PFS) for the Carina Module rare earths project in Brazil.

Murphy cited Hatch's extensive experience and good fit with Aclara's team as the primary reasons for the choice. The pre-feasibility study, a crucial step following the issuance of a preliminary economic assessment earlier this year, will focus on various trade-offs concerning the availability of resources like power and water.

The study is expected to conclude around mid-next year, after which Aclara plans to transition to a feasibility study. The pre-feasibility study results will not be made public as Aclara aims to expedite the process towards the feasibility phase.

Following the completion of the feasibility study, Aclara anticipates releasing a NI 43-101 compliant technical report by mid-2026.

In the short term, Murphy said Aclara is preparing to issue updates following a new drilling campaign that expanded the resource at depth. Further, the company plans to relocate its pilot plant from Chile to Brazil to facilitate tests relevant to the project's pre-feasibility phase.