Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has unveiled highly encouraging assay results from its phase three infill drilling program at the Kangankunde Rare Earths Project in Malawi.
The average grade of the rare earth critical metal elements neodymium-praseodymium (NdPr) remains consistent at around 20% of TREO, with grades of up to 23.5% TREO recorded.
A reverse circulation (RC) campaign, which has just wrapped up, was a considerable effort consisting of 45 drill holes across 4,886 metres, with the latest results derived from nine holes.
Extensive mineralisation
These holes revealed extensive mineralisation to the end of each hole, containing critical rare earth elements such as NdPr and importantly, were non-radioactive.
The infill drilling aims to refine the inferred mineral resource estimate (MRE), moving it towards an indicated resource category.
This step is crucial for detailed mine design and the forthcoming ore reserve estimation.
Target (NYSE:TGT) areas for the program were selected based on their potential as initial feed sources for the stage one processing facility.
Notable findings include continuous high-grade mineralisation in the central carbonatite complex's northern, western and southeastern areas.
Highlights
Some of the strong intersections include:
- 80 metres at 3.83% total rare earth oxides (TREO) in hole KGKRC099;
- 140 metres at 3.20% TREO in KGKRC096; and
- 100 metres at 3.09% TREO from surface to the end of hole in KGKRC097.
With the drilling program now complete, Lindian is progressing towards mine planning and the determination of ore reserves.
The company has also completed significant studies, including environmental and social impact assessments, setting the stage for the next phases of development.
Compelling economics
Lindian CEO Alistair Stephens said: “Assays for the phase three drill program are now finalised.
“Lindian’s technical team has completed more than 20.7 kilometres of drilling at Kangankunde in less than 15 months to define what is one of world’s best rare earths deposits with excellent grade, non-radioactive material, a high Nd-Pr ratio and enormous scale.
“Our technical team is to be congratulated for their efforts. This month we will report an updated mineral resource estimate that includes the indicated component of the resource as well as an ore reserve estimation which is another meaningful benchmark to assess the project’s unlocked value.
“Following this will be further updates on mine development capex and opex prior to the release of the feasibility study this quarter.”
Lindian executive chair Asimwe Kabunga added: “Kangankunde’s project development continues to advance very rapidly with multiple workstreams advancing concurrently so we can commence construction in the coming months.
“Interest in the asset continues to build from a broad number of interested parties with many keenly awaiting our feasibility study. We are confident it will showcase the project’s compelling economics.”
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