Rare Earths Americas (NYSE American: REA) announced Thursday assay results from eight new drill holes at Homer-A, one of three 100%-owned exploration targets within the broader Homer project in Goiás, Brazil.
The latest results expand the known mineralized footprint by more than 60%, to approximately 3.5 km² (865 acres) from the 2.15 km² (531 acres) reported in September 2026.
The mineralized zone now extends approximately 4.3 km along its longest dimension—roughly double the 2.1 km reported in September—and remains open for further expansion, the company said.
Of the 20 holes within the primary geochemical anomaly with assays received to date, 19 have intersected mineralization above the reported cut-off, further supporting the scale and continuity of the system, REA said.
Holes along the south-eastern margin of the complex returned the highest proportion of heavy rare earth oxides (HREO) found at Homer-A to date, with dysprosium and terbium oxides (DyTb) making up as much as 8.7% of total rare earth oxides plus scandium in individual samples. Multiple holes in this area returned elevated HREO and DyTb proportions, highlighting an emerging zone of heavy rare earth enrichment along the south-eastern margin that remains open to further drilling, the company said.
Assays have been received for only 22 of approximately 180 holes planned for the 2026 program—roughly 12%—while approximately 11,800 meters, or nearly 80% of the planned 15,000-meter program, had already been drilled as of October 30, 2026.
“What stands out in this second update on drilling is that Homer-A is becoming both larger and increasingly differentiated, REA CEO Donald Swartz said in a news release.
“The known mineralized footprint has expanded by more than 60%, its longest dimension has roughly doubled, and drilling along the south-eastern margin has encountered the highest heavy rare earth and dysprosium-terbium proportions we have seen to date,” Swartz said. “The heavy rare earth enrichment is occurring across multiple holes and intervals rather than in a single isolated sample, while the mineralized system remains open for further expansion.”
The company said it expects to finish the program on schedule and continues to target a maiden mineral resource estimate in 2027.
Rare Earth Americas controls four exploration projects, including ionic clay deposits in Brazil and a monazite-rich sands project in Georgia that management believes could represent the source rock for rare earth-bearing mineral sands already mined along the US coastal plain.
REA stock closed Thursday down 10% in New York. The company has a $220 million market capitalization.
