NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Lindian Resources kicks off maiden drilling for rare earths at Kangankunde

Published 31/10/2022, 10:04 am
© Reuters.  Lindian Resources kicks off maiden drilling for rare earths at Kangankunde
IX
-

Lindian Resources Ltd (ASX:LIN) has its maiden drilling program underway at the Kangankunde Rare Earths Project in Malawi designed to provide definition of mineralisation in the upper 300 metres.

This first phase program consists of 44 reverse circulation (RC) holes for around 10,000 metres and 2,500 metres of core drilling on the top of Kangankunde hill.

The objective is to provide initial definition of the mineralised carbonatite and surrounding carbonatite breccia rocks within an area of 800 metres long and 800 metres wide.

Monazite mineralisation hosting rare earth elements is clearly visible in the rocks that outcrop in this area.

First assays are anticipated in around 6-8 weeks.

Toward resource estimate

Lindian’s chief executive officer Alistair Stephens said: “When I commenced with Lindian in early August 2022, I set an ambitious plan to be drilling at Kangankunde within three months.

“With shareholder approval for the acquisition granted in late September and the blessing of the Kangankunde community who have supported our plan, I thank the Lindian team who have worked tirelessly to prepare all necessary logistics and supplies that are necessary for a drill program of the size we are embarking upon.

“This is the first drill program at Kangankunde since the 1990s. It will form the basis toward a mineral resource estimate under the 2012 JORC code, or at a minimum, an exploration target.”

Kangankunde is a globally significant rare earth resource in potential size, grade and quality.

The carbonatite host has outstanding grades of up to 23.7% TREO1, with very low thorium.

Interpreted geology with phase 1 drill program hole location and planned drill traces (red) and phase 2 (purple).

Drilling plan

Phase 1 drilling will be limited to the Kangankunde hill top using two RC rigs and one core rig to complete as many holes as possible until the wet season, typically from December to March, limits access.

The phase 2 program will follow with two additional deep drill holes planned from drill pads near the base of the Kangankunde hill designed to allow drilling to continue during the early stages of the wet season.

These two drill holes, each 1,000 metres in length, are designed to test the N-S and E-W axies of the carbonatite between 300 metres and 800 metres below the hill top.

Lindian expects phase 2 will start after the first phase is completed but this will be dependent on the wet season.

Test-work to follow

During November, samples will be taken for metallurgical test-work including mineralogy and recovery works.

It is hoped that the outcomes of this work program will be available toward the end of the first quarter of next year.

This will combine resource definition drilling with metallurgical recovery outcomes.

“A steady stream news in the form of assay results, metallurgical test-work results, additional exploration targets, and potentially an MRE, represent multiple value drivers for shareholders,” Stephens said.

“I look forward with excitement to the results of the works programs and will provide further updates as we progress.

“The Kangankunde Rare Earths Project is a globally significant resource in potential for size, grade and quality, and the drilling program now underway can be expected to confirm and build on previous historical work.”

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.