Libra Energy Materials Inc. (CSE: LIBR) (OTCQB: LIBRF) (FSE: W0R0) has released the remaining assay results from a 22-hole auger drilling program at its Penelope Project in Minas Gerais, Brazil, according to a company statement.

Results from holes PLE-AD-008 through PLE-AD-022 extended near-surface rare earth element (REE) enrichment beyond the initial Elena target, with mineralization identified approximately 125 to 250 meters to the east, northeast, and west, and approximately 650 meters to the northwest. The completed program tested an area of roughly 550 meters east-west by 750 meters north-south.

Hole PLE-AD-021, drilled approximately 700 meters from the Elena target, returned 2.0 meters at 1,421 parts per million (ppm) total rare earth oxides (TREO) from surface, including 1.0 meter at 2,239 ppm TREO. Hole PLE-AD-010 returned 12.0 meters at 801 ppm TREO from surface to the end of the hole, including 1.0 meter at 1,690 ppm TREO at 6 meters depth. Hole PLE-AD-020 returned 1.0 meter at 2,585 ppm TREO. Ten of the 15 holes reported returned at least one sample above 500 ppm TREO.

Several holes, including PLE-AD-010, PLE-AD-013, and PLE-AD-020, ended in mineralized material, indicating the base of the REE-enriched profile was not reached. Most intercepts contained magnet rare earth oxide proportions of 21% to 37% of TREO. Gallium values were also recorded, with hole PLE-AD-014 returning 4.0 meters at 38 grams per ton from surface.

Samples were analyzed by SGS Geosol Laboratórios S.A. in Vespasiano, Minas Gerais, an ISO/IEC 17025 accredited laboratory. The company said Penelope is considered non-core to its long-term strategy, and it is evaluating monetization options including earn-ins, joint ventures, or divestment.