Samso News: Enova Mining Limited — Auger Drilling Extends Near-Surface Titanium, REE & Niobium Mineralisation at CODA East - Assessing Multi-Element Scale and Continuity.
- Noel Ong
- 2 hours ago
- 6 min read
Announcement
Drill Results Extend Titanium, REE & Niobium Mineralisation - 27 January 2026 (view the announcement)
Enova Mining Limited is a story that has not been featured on the Samso platform and this Samso News article is an attempt to look at what the company is doing in Brazil. The titanium story has really been done by Lion Rock Minerals Limited (ASX: LRM), previously Peak Minerals Limited (ASX: PUA) and Tusker Minerals Limited (ASX: TSK), also previously DY6 Metals Limited (ASX: DY6).
I think the titanium story is no longer a marketable narrative on the ASX. The Heavy Mineral price has taken a direction southwards and the main issue for ASX investors, in my opinion, is that it is very hard to quantify what is a good titanium project. LRM tried to make a go of it but I think it was simpler to understand that they have a lot of monazite than to figure out the "in-situ" proportion of the HM sample that is Rutile which is X% titanium...etc.
I wanted to take a look at what Enova has to offer in this release, so lets get started.
Introduction Enova Mining Limited – CODA East Project, Minas Gerais, Brazil
Enova Mining Ltd (ASX: ENV) has reported further results from its auger drilling program at the CODA East Project in Minas Gerais, Brazil (Figure 1). The program continues to define broad zones of near-surface titanium oxide, rare earth elements, and niobium mineralisation hosted within saprolitised kamafugite of the Patos Formation. Results from auger holes CDE-AD-006 to CDE-AD-009 confirm lateral continuity of mineralisation, with all holes ending in mineralisation due to auger depth limitations, leaving the system open at depth.
Figure 1: CODA Project tenement map, Minas Gerais, Brazil (source: ENV)
Highlights – Broad Near-Surface Multi-Element Mineralisation Confirmed at CODA East
Additional auger drilling at CODA East has further confirmed widespread, near-surface titanium, rare earth element, and niobium mineralisation, extending the interpreted mineralised horizon across the CODA region (Figure 2).
Figure 2: CODA East auger hole collars with significant TiO₂ and TREO results (source: ENV)
Strong titanium oxide mineralisation has been intersected from surface in multiple auger holes, reinforcing the lateral extent of the saprolite-hosted system and demonstrating consistency across drill lines (Figure 3).
Figure 3: Schematic cross-section (WSW–ENE) illustrating TiO₂ continuity and mineralisation open at depth (source: ENV)
Consistently elevated rare earth and anomalous niobium results were recorded alongside titanium mineralisation, supporting interpretation of a broad, multi-element mineralised horizon rather than isolated zones (Figure 4).
Figure 4: Auger drilling at CODA East CDE-AD-0006 (source: ENV)
Anomalous to high niobium oxide values were intersected from surface, with multiple holes returning extended Nb₂O₅ intervals, adding another critical-metal component to the CODA East mineralisation profile.
All auger holes were terminated in mineralisation due to depth limitations, indicating potential vertical continuity and supporting further drill testing beyond auger depth (Figure 5).
Figures 5: Auger drill chip libraries and magnetic susceptibility images showing saprolite-hosted mineralisation (source: ENV)
Leadership Commentary
CEO / Executive Director Eric Vesel commented:
“The auger drilling program continues to demonstrate the scale and consistency of near-surface mineralisation across CODA East, with titanium, rare earth and niobium grades intersected from surface in multiple holes. These results are providing a clearer understanding of the saprolite-hosted system and are helping to prioritise areas for follow-up drilling. Metallurgical test work is progressing to better define processing pathways as the project advances.”
Near-term Milestones to Watch
Ongoing auger drilling at CODA XN to further expand the mineralised footprint across the CODA tenement package
Continued metallurgical characterisation and beneficiation test work for titanium and rare earth elements
Integration of auger drilling results into planning for future infill and step-out drilling across CODA East, Central, and XN
Progress on transfer of CODA tenements to Enova Mining Ltd
Samso Concluding Comments
The CODA East results show a broad, near-surface mineralised system with multiple critical metals present. The consistency of mineralisation across auger holes look like it supports geological continuity rather than isolated zones.
All holes ending in mineralisation highlight the potential narrative of a system that may be endowed. The key will be future work which will allow the company to understand the depth potential.
The presence of titanium, rare earths, and niobium in the same saprolite horizon adds technical interest. It may provide optionality as metallurgical work advances.
From an early mineral exploration point of view, this update will add data density and improves confidence in the CODA East geological model. The good news is that it remains an early-stage system, but one that will be more enlightening as it gets defined.
Market Implication - The Investor Lens
The market capitalisation of Enova Mining is just under AUD $16M and there does not appear to be much activity (Figure 6) which may be reflecting the losing focus on titanium as a story. There was a moment 6 months ago when the mention of a potential titanium discovery would bring some interest, however, I think that moment appear to be missing now.
Figures 6: Enova share price chart as of 3rd February 2026 (source: commsec)
For me, I think the market is currently doing what it does the best, and that is focussing on the immediate "hotness" of gold, silver (although this seems to be more directed at a limited range of project development), copper and the potential recovery of lithium. It will be hard for the "other" metals togain traction for investors.
Longer term investors will be most likely putting thier risk in silver as it builds momentum and as I mentioned previously, it is hard to find a primary silver story as there are not many companies that at dealing with a pure silver deposit.
If we are to find a place to put your position risk play, I dont think titanium is the place to be unless you have a compelling case for a mature project that is already developing an economical case.
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