- Lindian Resources (LIN) records its best total rare earth oxide (TREO) intercept from the first drill holes at its Kangankunde project in Malawi
- Assays for 14 reverse circulation drill holes, out of 44 completed to date, returned a top result of 35 metres at 3.9 per cent TREO and four metres at 7.8 per cent
- LIN says the assays confirm that the mineralisation at the project is non-radioactive with very low average uranium and thorium levels
- The company expects to see similar characteristics as drilling continues
- LIN shares are down 4.26 per cent trading at 22.5 cents at 3:18 pm AEDT
Lindian Resources (LIN) has recorded its best total rare earth oxide (TREO) intercept from the first drill holes at its Kangankunde project in Malawi.
Assays have been received for 14 reverse circulation drill holes out of 44 completed to date in the company’s phase one drilling campaign, with all 14 holes beginning and ending in mineralisation.
Drill intersections included 179 metres from surface averaging 2.2 per cent TREO, which included a top result of 35 metres at 3.94 per cent TREO and four metres at 7.8 per cent.
Lindian also highlighted a 210-metre intersection from surface that averaged 1.92 per cent TREO and included 47 metres at 3.3 per cent TREO.
The assays confirm the company’s understanding that the mineralisation at the project is non-radioactive with very low average uranium and thorium levels.
As drilling continues, CEO Alistair Stephens said the company expects these characteristics to be repeated.
Moving forward, Mr Stephens said a mineral resource estimate due to be reported in the second quarter of this year will confirm the company’s belief that Kangankunde is shaping up to be “one of the world’s most significant rare earths deposits”.
Phase two drilling is scheduled for the second half of this year. It will include two deep drill holes to enable drilling to continue during the wet season and will test the north-south and east-west axis of the carbonatite.
Lindian is also looking to undertake exploratory metallurgical test work on samples in South Africa. A sample has also arrived in Australia to be used for pilot scale test work in Perth.
LIN shares are down 4.26 per cent trading at 22.5 cents at 3:18 pm AEDT.