Lindian Resources Ltd (ASX:LIN) has unearthed very broad high-grade intersections of rare earth element (REE) mineralisation in drilling at the Kangankunde Rare Earths Project in Malawi.
Drilling has so far demonstrated extensive, non-radioactive rare earths mineralisation, with 35 metres at 3.94% total rare earth oxides (TREO from surface, including 4 metres at 7.82%, being the best result to date from the project.
This was within 179 metres from surface averaging 2.20% TREO with other results of note including:
- 210 metres from surface averaging 1.92% TREO, including 47 metres at 3.23% TREO from 134 metres; and
- 162 metres from surface averaging 2.16% TREO, including 23 metres at 3.01% TREO from surface and 24 metres at 3.04% TREO from 74 metres.
Kangankunde "shaping up"
“Assays reported from the first 14 holes drilled to date have consistently shown high-grade, very broad intercepts, a high neodymium-praseodymium ratio and non-radioactive mineralisation,” Lindian Resources CEO Alistair Stephens said.
“As drilling advances we expect these characteristics to be repeated, underpinning our confidence that Kangankunde is, without doubt, shaping up as one of the world’s most significant rare earths deposits.
“Our mineral resource estimate to be reported in the second quarter of calendar 2023 will confirm this."
All drill holes in this program both started and ended in mineralisation, meaning the target remains open in all directions for further exploration.
More exploration targets to be drilled
Lindian has completed 44 holes of reverse circulation (RC) drilling for 7,170 metres and 5 diamond drill holes for 1,105 metres of core sample as of February 4.
Assays have been reported for the first 14 holes, with more to come in the next few weeks.
“In terms of these most recent assays, the key highlight is our best intercept to date in hole KGKRC014, being 35 metres at almost 4% TREO which includes 4 metres at 7.82% TREO,” Stephens continued.
“There are still a number of areas of interest we have not yet drilled where we believe similar grades can be repeated.
“I look forward to being on the ground in Malawi next week and will be providing further updates from site which I expect will include feedback from community and government meetings with both parties supportive of our mine development program, and the progress we have made so far.
“We are also pleased with the advancing metallurgical test work with preliminary results expected this month.”