Lindian Resources fields more broad rare earth intersections and consistent high grades at Kangankunde
Proactive Investors
Published Mar 07, 2024 11:17
Updated Mar 07, 2024 11:30
Lindian Resources fields more broad rare earth intersections and consistent high grades at Kangankunde
Assay results from Lindian Resources Ltd (ASX:LIN, OTC:LINIF)’s infill drilling at the Kangankunde Rare Earths Project in Malawi have delivered further broad, high-grade intersections.
The Phase 3 program included 45 reverse circulation (RC) drill holes for 4,886 metres, with new assay results received from 14 of the holes.
All holes assayed demonstrate extensive intersections of mineralisation to end of hole, are non-radioactive and have significant percentages of the critical rare earths metal elements neodymium and praseodymium (NdPr).
The significant intersections (each from surface to end of hole) from these latest assays include 119 metres grading 3.77% total rare earth oxides (TREO); 120 metres at 3.66% TREO; 80 metres at 3.59% TREO; 150 metres at 3.38% TREO; 100 metres at 3.29% TREO; and 80 metres at 3.29% TREO.
The average grade of critical elements neodymium-praseodymium (NdPr) was ~20% of TREO.
Lindian says that samples from the final 10 holes are now at the lab and will be reported shortly.
Results from the phase 3 program will be used to define a portion of Kangankunde’s current Inferred mineral resource estimate (MRE) of 261 million tonnes grading 2.19% TREO to the higher confidence indicated category.
The updated MRE, including the indicated resource category, will be reported as part of the feasibility study, which is now being prepared. Lindian also confirmed that processing plant engineering and mine development works are proceeding as planned.
Feasibility study expected “very soon”
“All the elements for our feasibility study are now rapidly coming together with these infill drilling assays being an important component of this," Lindian executive chairman Asimwe Kabunga said.
"We look forward to reporting the stage 1 feasibility study very soon, and in quick succession, commencing construction works,”
CEO Alistair Stephens added: “The results from this infill drill program further demonstrate Kangankunde’s excellent characteristics – high grade, which is consistent across very broad intersections, a high NDPr ratio, and of course, the material in non-radioactive, a unique feature of the asset.
“Results from the final 10 holes will be reported very soon and we will then be able to define an Indicted portion of the MRE as part of our Feasibility Study.”
Kangankunde central carbonatite geology plan and drilling locations (latest assays in red).
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