Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has delivered an updated mineral resource estimate (MRE) from the phase 3 drilling campaign at the Kangankunde Rare Earths Project in Malawi, greatly enhancing its status as one the world’s largest and most strategically significant rare earths deposits.
The updated MRE of 261 million tonnes grading 2.14% total rare earth oxide (TREO) includes an indicated category resource of 61 million tonnes grading 2.43% TREO (0.5% TREO cut-off grade) and a higher grade component of 25 million tonnes grading 3.26% TREO (2.5% TREO cut-off grade).
Importantly, the indicated resource contains 300,000 tonnes of neodymium-praseodymium (NdPr) with NdPr ratio averaging 20.2% of TREO.
The higher-grade component of the indicated resource will be significant for the Stage 1 Feasibility Study to be published this quarter.
This MRE update follows the Phase 3 infill drilling program completed in Q3 2023, which added 45 drill holes for 4,886 metres of drilling.
Kangankunde a "top-tier asset"
Lindian executive chairman Asimwe Kabunga said: “We are pleased to deliver another key milestone central to our near-term goal of bringing the fully permitted Kangankunde project into production and establishing this world-class project as a dependable long-term supplier of rare earths concentrate to global markets.
“This updated MRE reaffirms the project’s status as a top-tier asset that will deliver material benefits to Malawi, the local community, key stakeholders and our shareholders. Other milestones to be reported shortly will reinforce Kangankunde’s strategic value.”
CEO Alistair Stephens added: “The indicated portion of the MRE is an excellent outcome and exceeds our expectations in terms of tonnage and grade, particularly when taking into account the higher grade 25 million tonnes component which likely underpins multiple years of production under our Stage 1 development plan.”