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Rare earths explorer DY6 Metals (ASX:DY6) has announced its receipt of a key mining licence for its rare earth element (REE) project in Malawi, East Africa.
Called Tundulu, the company’s geotech team has now kicked off a metallurgical testwork review based off past drill intercepts now in the company’s possession.
Historical results on-site have been promising enough to keep the company’s focus squarely on progressing regulatory compliance to enable full-fledged exploration.
Previous assay results for total rare earth oxides (TREO) highlighted by the company on Tuesday include:
- 101m @ 1.02% TREO from surface
- 91m @ 1.09% TREO from 46m depth
- 85m @ 1.04% TREO from 22m depth
- 109m @ 1.06% TREO from 53m depth
- 100m @ 1.09% TREO from 30m depth
From-surface mineralisation and relatively shallow depths thereafter paint an obvious picture of interest in the landholding on DY6’s part. High counts of phosphorus pentoxide (P2O5) are also included in assays.
The company described Tundulu as being formed by several hills in a ring around a central target where most drilling was undertaken.
At the centre of those hills is a carbonatite complex, a type of rock well known to host rare earths and typically viewed as one of the easier to process (versus, for example, clay.)
“Mineral rich carbonatite also occurs at Tundulu Hill east of Nathace and Makhanga Hill west of Nathace and is previously unexplored and prospective for REEs,” the company added on Tuesday.
Mineralisation is interpreted to be open in the southern and western directions on-site with low counts of uranium and thorium (detected thus far) being promising, in the eyes of company geotechs.
DY6 says the radioactive material ratios (common in REE projects) are like that of Lynas Rare Earths’ (ASX:LYC) Mount Weld play.
DY6 last traded at 7.7cps.
