- Lindian Resources (LIN) reports “high-grade” rare earth results from its Kangankunde project in Malawi
- The results include a 186-metre intersection averaging 2.97 per cent total rare earth oxides (TREO) within the highest-grading hole to date, as well as an 82-metre hit at 3.12 per cent TREO
- Lindian CEO Alistair Stephens says the assays are “extremely encouraging” as the company awaits results from another 25 holes
- The company expects to deliver a maiden mineral resource estimate for the Kangankunde project in the June quarter
- LIN shares are down 2.04 per cent and trading at 24 cents at 11:40 am AEDT
Lindian Resources (LIN) has reported “high-grade” rare earth element (REE) results from its Kangankunde project in Malawi.
This batch of drill results returned REE assays up to 9.5 per cent total rare earth oxides (TREO).
The company highlighted a 186-metre intersection from surface to end-of-hole averaging 2.97 per cent TREO in the highest-grading hole to date. Other intersections within this drillhole include 24 metres at three per cent TREO from surface and 65 metres at 3.64 per cent TREO from 58 metres.
Lindian CEO Alistair Stephens said the hole provided a “high degree of confidence” that the assay grade of the central carbonatite unit was likely to remain consistent.
In addition, Lindian reported an 82-metre hit at 3.12 per cent TREO from surface and a 50-metre hit at 2.75 per cent TREO from 81 metres in two other holes.
“These assays are without a doubt extremely encouraging from the perspective of the size of the mineralised body as we have continued to intersect very broad, high-grade intercepts of non-radioactive mineralisation from surface, with all holes terminating in mineralisation,” Mr Stephens said.
Lindian has now received assays for 11 out of 36 holes, with more to come in over the next few weeks.
The company expects to announce a maiden mineral resource estimate for the Kangankunde project next quarter. This will be supported by the drill results and metallurgical test work results.
LIN shares were down 2.04 per cent and trading at 24 cents at 11:40 am AEDT.