Lindian Resources Ltd (ASX:LIN) has enjoyed a six-month stream of high-grade rare earth element (REE) results since the company began drilling at the Kangankunde Rare Earths Project in Malawi in October last year.
Since then, LIN has enjoyed a semi-constant news flow of solid REE results, further underscored by low-radioactivity and consistently high grade and continuity.
This latest set of results comes from 16 reverse circulation (RC) holes, which demonstrate high-grade mineralisation over long, continuous intersections, all ending in mineralisation, with grades up to 14.9% total rare earth oxide (TREO).
Importantly, magnet rare earth oxides (MREO) and critical minerals neodymium and praseodymium appear to occur in high concentrations, grading up to 20.4% of TREO.
The company’s phase one drilling program is now concluded, having completed 14,312 metres of drilling over 92 holes.
“Fast becoming a Tier-1 asset”
“Kangankunde keeps on delivering outstanding assay results confirming that it is the most significant rare earths project globally in terms of grade, scale and non-radioactivity and fast becoming a tier-one asset,” Lindian Resources CEO Alistair Stephens said.
“Of particular note in these latest results is the very high grades being recorded in the southern part of the central carbonatite, with all three holes in this area having returned long intervals exceeding 3% TREO.
“Of the 33 holes for which assays are pending, the majority are in the north, where historical grades are the highest.”
Results from the 16 analysed drill holes include:
KGKRC036: 100 metres from surface averaging 3.39% TREO
KGKRC054: 81 metres from surface to end of hole (EOH) averaging 3.35% TREO
KGKRC051: 154 metres from surface to EOH averaging 2.68% TREO including:
- 20 metres at 3.00% TREO from 26 metres;
- 41 metres at 2.94% TREO from 52 metres; and
- 49 metres at 3.51% TREO from 105 metres.
- 26 metres at 2.85% TREO from 59 metres; and
- 59 metres at 3.43% TREO from 91 metres.
KGKRC042: 151 metres from surface to EOH averaging 2.40% TREO including:
- 64 metres at 3.30% TREO from surface; and
- 13 metres at 3.42% TREO from 120 metres.
“The continuity of the mineralisation detected so far, with all metres drilled bearing rare earths mineralisation, is indeed unparalleled and reinforces that Kangankunde is a standout rare earths project globally,” Stephens continued.
“These latest results and those of the remaining 33 holes will be incorporated into the company’s maiden mineral resource estimate.
“We are making excellent progress with the deep drilling program with 900 metres of the initially planned 2,000 metres (2x 1,000 metre holes) having been completed.
“The textual consistency of the mineralisation at surface is evident throughout the hole and down to our current depths which is most encouraging.
“Samples from the deep drilling program are at various stages of preparation with the first batch expected to depart Malawi this month for analysis.
“We continue to make excellent progress with our drill program, and we remain on track to report our maiden mineral resource estimate this quarter.”