Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has delivered a robust maiden mineral resource estimate (MRE) for the Kangankunde Rare Earths Project in Malawi, consisting of 261 million tonnes with an average of 2.19% total rare earth oxide (TREO), placing it among the world's largest rare earth element (REE) deposits.
The substantial resource, entirely in the inferred category and above a 0.5% TREO cut-off grade, positions the project as a globally strategic resource for secure, long-term supply.
Key highlights of the MRE include:
- Contains 5.7 million tonnes of rare earths;
- Includes 1.2 million tonnes of the critical metal elements of neodymium-praseodymium (NdPr);
- NdPr ratio averages 20.2% of TREO;
- Non-radioactive mineralisation; and
- Features multiple higher-grade subsets, including 23 million tonnes at 3.23% TREO, the focus for the initial Stage 1 mine development; 60 million tonnes at 2.4% TREO; and 46 million tonnes at 2.34% TREO.
Located in the south of Malawi, the Kangankunde Rare Earths Project has undergone extensive drilling totalling 15,831 metres comprising eight diamond core holes, 76 reverse circulation (RC) holes, and seven RC holes with diamond core tails.
Notably, mineralisation remains open at depth and beyond certain areas of the current mineral resource envelope, leaving room for further expansion and exploration.
"A key milestone"
“Our maiden mineral resource estimate marks a key milestone for Lindian and positions us as a major player in the global rare earths sector,” Lindian executive chairman Asimwe Kabunga said.
“We can confidently claim Kangankunde is one of the world’s largest rare earths projects superior in terms of tonnage matched with excellent grade and containing a high percentage of critical metal elements neodymium-praseodymium (NdPr), and uniquely, material that is non-radioactive.
“This makes the project highly attractive to parties seeking secure, long-term supply, many of which have expressed an interest in Kangankunde’s material.
“Our focus now turns to locking in these off-take agreements and advancing construction of our stage 1 plant to deliver first product in 2024.”
Room for expansion
Meanwhile, chief executive officer Alistair Stephens said Lindian had established a rare earths resource that positioned the company in the top echelons of critical minerals companies globally in a little over 10 months.
“It is worth noting that the resource remains open.
“It is an outstanding outcome and I would like to acknowledge the hard work of our technical team in Malawi, and notably, the support of the Malawi Government and the local community.
“This MRE underpins the next phase of value catalysts for Lindian, including mine and processing development activities and off-take agreements. We have a number of meaningful announcements pending that will deliver further value.”
Major player
Kangankunde is a world-class rare earths and bauxite asset critical to the electric vehicle and a range of other industries, including electronic infrastructure, solar panels, rechargeable batteries, wind turbines, medical imaging and manufacturing.
The company has paid a total of US$20 million as part of its acquisition of Rift Valley Resources Developments Ltd, which takes the company a step closer to securing full ownership of Kangankunde.