- Lindian Resources (LIN) announces a maiden inferred MRE for its Kangankunde REE project in Malawi
- The MRE stands at 261Mt averaging 2.19 per cent TREO above a 0.5 per cent TREO cutoff grade
- It positions Kangankunde as one of the largest REE deposits in the world and provides the company with long-term supply into global markets
- With the MRE now published, Lindian is well-placed to advance offtake discussions with global parties
- LIN shares are down 9.52 per cent, trading at 38 cents at 12:28 pm AEST
Lindian Resource (LIN) has announced a maiden mineral resource estimate (MRE) for its Kangankunde rare earths (REE) project in Malawi.
The inferred MRE stands at 261 million tonnes (Mt) averaging 2.19 per cent TREO above a 0.5 per cent TREO cutoff grade.
According to LIN, this latest update positions Kangankunde as one of the largest REE deposits and provides the company with long-term supply into global markets.
Breaking it down, Lindian holds 5.7Mt of contained REEs, and this includes 1.2Mt of contained critical metal elements neodymium and praseodymium at an average of 20.2 per cent TREO.
The company reported the MRE mineralisation is non-radioactive, and includes multiple high-grade subsets of 23Mt at 3.23 per cent TREO, and this will become the focus of stage-one mine development.
Mineralisation remains open at depth and beyond some areas of the company’s current MRE.
“In a little over 10 months, and based on just 14,000 metres of drilling, Lindian has established a vastly superior rare earths resource that positions us in the top echelons of critical minerals companies globally,” LIN CEO Alistair Stephens said.
“This MRE underpins the next phase of value catalysts for Lindian including mine and processing development activities and offtake agreements.”
With the MRE now published, Lindian announced it’s well-placed to advance offtake discussions with global parties.
LIN shares were down 9.52 per cent, trading at 38 cents at 12:28 pm AEST.