Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF) has delivered its maiden mineral resource estimate for the Lyons rare earth elements (REE) project within its Gascoyne Project in Western Australia — an inferred mineral resources estimate of 990,000 tonnes grading 0.32% total rare earth oxides (TREO).
Following on from initial reverse circulation (RC) drilling last year and an infill RC program this season, Lanthanein generated sufficient data points to complete this initial inferred resources estimate for the Lyons 11, 12 and 13 prospects.
This maiden inferred resource came in at 0.99 million tonnes grading 0.32% TREO, with a combined neodymium and praseodymium (NdPr) grade of 0.13%. The niobium grade at Lyons 12 and 13 prospects was 0.23% niobium pentoxide (Nb2O5).
Informing the model was a total of 89 drillholes for 6,373 metres of drilling completed by Lanthanein. Of these, 66 holes for 4,639 metres were drilled at Lyons 12-13 prospects and 23 holes for 1,734 metres at Lyons 11.
The resource model assumes open cut mining is completed and a moderate level of mining selectivity is achieved in mining with the difference in hardness and colour between the ironstones and the country rock supporting this assumption.
It was assumed that grade control will be applied to ore/waste delineation processes to ensure adequate coverage of the mineralisation zones.
Adjacent Yangibana REE deposit
The Lyons Project is adjacent to Hastings Technology Metals Ltd (ASX:HAS)’s Yangibana REE deposit — an advanced project that has a completed definitive feasibility study and is advancing to construction.
Mineralisation at Yangibana is hosted in the same Yangibana Ironstones as Lyons. Accordingly, at this early stage of exploration it is assumed that the mining and metallurgical factors from Yangibana represent an appropriate starting point for Lyons.
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