Lanthanein Resources Ltd (ASX:LNR) has kicked off its maiden drill program targeting high-grade rare earth element (REE) mineralisation at its Lyons REE Project in the Gascoyne region of Western Australia.
The drill program will focus on REEs discovered at the outcropping ironstones and additional interpreted carbonatite intrusives and ironstones undercover at Lyons.
This program will investigate high-priority targets within the Gifford Creek Carbonatite Complex, host to Hastings Technology Metals’ world‐class Yangibana mineral resource and multiple discoveries by Dreadnought Resources.
Moving forward, LNR is planning further rock chip sampling, high-resolution satellite spectral interpretation and drilling programs to follow up on additional targets at the project.
“Significant endowment”
Lanthanein's technical director Brian Thomas said: “The commencement of our maiden drill program at the exciting Lyons rare earths project is a major step forward for Lanthanein.
“After a delay of a week brought about by heavy unseasonal rain in the Gascoyne, the Topdrill RC drill rig commenced drilling at the outcropping Lyons 11 ironstone late last Friday.
“We are particularly encouraged by the ongoing exploration success by Dreadnought at their Yin Project and the new Sabre discovery which demonstrates the significant REE potential of the Gifford Creek Ferrocarbonatite Complex.
“The significant endowment of rare earth minerals in the Gascoyne is now being recognised by the broader market.”
REE-bearing ironstone discoveries
Ironstones are analogous to Hastings Technology Metals' rare earth deposits and Dreadnought Resources Yin discovery adjacent to Lanthanein’s Lyons Project, 2.5 kilometres and 32 kilometres away respectively.
Thomas adds: “The surge in modern exploration in the region has highlighted the potential for more rare earth discoveries such as Yin and Sabre plus further Lyons REE-bearing ironstone discoveries.”
“The recent $110 million placement by Hastings Technology Metals with Australian and international institutional investors to accelerate the development of the Yangibana Rare Earths Project has highlighted the Gascoyne as a world-class region for the supply of REEs.
“Also, Hastings acquisition of a 22% strategic shareholding in Neo Performance Materials, a global leader in the downstream processing of rare earth elements and the production of advanced materials, including permanent magnets funded by a $150 million package from Wyloo Metals, Tattarang’s metals and mining arm is also a significant endorsement of the rare earth's potential of the Gascoyne region.”
“I look forward to updating the market on progress with the program as drilling progresses.”
Forward plan
An additional program of works (PoW) application has been lodged with the Department of Mines, Industry Regulation and Safety (DMIRS) to allow for extensions to the initial drilling campaign.
Drilling will be critical to understanding the resource potential of the mineralised ironstones, to determining the width, grade and continuity at depth and along strike of interpreted ironstone trends.
Further follow-up is also required at the thorium and magnetic anomalies throughout the Lyons Project and the high-priority structural target along the major Bald Hill lineament which transects both the Edmund and Lyons project areas.
Potential remains for further discoveries of ironstones and carbonatites within the company’s tenure where no historical REE exploration has occurred.