Rare Earths Americas is doubling its drill fleet at the Homer project in Brazil after early assays returned rare earth zones enriched in dysprosium and terbium, the elements most critical to permanent magnets. The company targets an initial resource estimate for the site in 2027.
At a glance
- Assays from the first 8% of Rare Earths Americas' 15,000-metre drill program at Homer returned grades above 2,000 parts per million total rare earth oxides.
- One interval graded 3,909 ppm TREO, with dysprosium and terbium making up 40.9% of the heavy rare earth content.
- The company is doubling its drill fleet to four rigs, with a $5 million programme due to finish by the end of 2026.
Background
Dysprosium and terbium are heavy rare earth elements added in small amounts to neodymium magnets so the magnets keep their strength at the high temperatures inside electric-vehicle motors and wind-turbine generators. China processes most of the world's heavy rare earths, so manufacturers elsewhere are watching new discoveries outside China closely. Rare Earths Americas listed on the NYSE American in May 2026 to fund exploration in Brazil and the United States.
What happened
Rare Earths Americas said assays from its Homer project in Goias state, Brazil, returned broad, near-surface rare earth zones enriched in dysprosium and terbium. Hole RC-TGA-0010 intersected 22 metres grading 2,233 parts per million total rare earth oxides (TREO) from just 5 metres depth, including a higher-grade 7-metre zone at 3,356 ppm TREO. Heavy rare earth oxides made up 34% of that richer zone, with dysprosium and terbium together accounting for 4.1%.
A second hole, RC-TGA-0004, returned 13 metres at 2,238 ppm TREO from 16 metres depth, sharpening to 3 metres at 3,909 ppm TREO with 40.9% heavy rare earth oxides. All 11 holes drilled so far intersected mineralization, though one hole instead returned niobium oxide, pointing to a second mineral system on the property. The assays released cover only about 1,250 metres, roughly 8% of a planned 15,000-metre program that had already passed 6,500 metres drilled by mid-September.
Why heavy rare earths matter
Dysprosium and terbium are added in small quantities to neodymium-iron-boron magnets so the magnets keep their strength at the high operating temperatures found inside EV motors and wind-turbine generators. China mines and processes most of the world's supply of both elements, which has left automakers and magnet makers exposed to Beijing's export licensing rules. Near-surface, high-grade heavy rare earth zones like those at Homer are scarce outside China, which is why explorers move quickly once early holes confirm grade.
Chief executive Donald Swartz said the combination of scale, near-surface mineralization and heavy-magnet enrichment stood out this early in testing the system.
What it means
Rare Earths Americas is doubling its drill fleet to four rigs at Homer. It expects its $5 million exploration programme to finish by the end of 2026, targeting an initial mineral resource estimate in 2027.
The company listed on the NYSE American in May 2026 at $19 a share to fund exploration in Brazil and the United States. Its stock has since fallen to around $10.78, valuing the company near $215 million.
For manufacturers and governments trying to build rare earth magnet supply chains outside China, Homer is still an early-stage exploration result, not a mine. It adds one more data point to a search that has intensified since China tightened export licensing on heavy rare earths this year.
Our read
Outlook: neutral. Early-stage exploration assays from a single junior miner are unlikely to move globally traded neodymium and rare earth prices on their own, but they add to a growing pool of non-China heavy rare earth discoveries that magnet makers are tracking.
What to watch
- Assay results from the remaining 92% of Rare Earths Americas' 15,000-metre Homer drill program through the rest of 2026.
- Whether the niobium intersection at hole RC-TGA-0014 defines a separate deposit on the property.
- Rare Earths Americas' initial mineral resource estimate for Homer, targeted for 2027.
For information only, not investment advice.
Neodymium price in India
metalscost.com India reference price as of 2026-10-03.
Detailed analysis
Timeline
- 2026-09-23: Rare Earths Americas reports Homer assays showing TREO grades above 2,000 ppm in the first drill results released.
- 2026-09-24: The company confirms plans to double its drill fleet to four rigs at Homer.
Technical view
Price is trading above both its 20-period and 50-period moving averages, a bullish alignment.
Computed from metalscost.com's own stored price history.
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