08:22 AM EST, 11/25/2024 (MT Newswires) -- Verde AgriTech ( VNPKF ) reported Monday new scandium results from the Nau de Guerra target within the Man of War rare earths project in Brazil.

The company said findings revealed scandium oxide concentrations from 30 reanalyzed core samples, with results including 144 parts per million scandium oxide.

Verde noted that scandium is a rare metal classified as a critical mineral by several countries. It is considered the most effective microalloying element for aluminum, and makes aluminum-scandium alloys highly valued in both military and civilian aircraft.

"The rare earths find, in and of itself, made the Man of War project an impressive economic opportunity," said Cristiano Veloso, Verde's founder and CEO. "The associated scandium at the grades assayed show that the overall basket of minerals could potentially yield even more value per ton of ore."

Verde's share price rose 1.6% last Friday to $0.65 on the Toronto Stock Exchange.