- Lindian Resources (LIN) delivers further “outstanding” rare earth assays from the Kangankunde project in Malawi
- The company received results from its phase one drilling program, which returned extensive, non-radioactive rare earths mineralisation across very broad intercepts
- Assays from the program include four metres from surface at an average of 2.49 per cent total rare earth oxides, with the company telling investors it expects to report more of the same over the coming weeks
- Lindian’s 12,500-metre phase one program is ongoing, with three drill rigs currently spinning on site
- Lindian Resources shares are down 5 per cent to trade at 28.5 cents at 11:27 am AEDT
Lindian Resources (LIN) has delivered further “outstanding” rare earth assays from the Kangankunde project in Malawi.
The company received the results of its phase one drilling program, which returned a large percentage of critical rare earths metal elements of neodymium and praseodymium.
All holes boasted broad intersections of non-radioactive material displaying “excellent” grade, and both started and terminated in mineralisation.
Results from the program included four metres from surface at an average of 2.49 per cent total rare earth oxides (TREO), including 146 metres at 2.74 per cent TREO from surface.
Further assays included 97 metres from surface averaging 2.84 per cent TREO, including 24 metres at 3.43 per cent TREO from 10 metres.
“As with our first results, the assays we are reporting today are simply outstanding in terms of consistent grade, the extraordinary continuity of mineralisation over very large intercepts, the high NdPr ratio and the fact that Kangankunde hosts non-radioactive material,” Lindian CEO Alistair Stephens said.
“It is exceptionally encouraging to have such continuity and consistency in grade across all holes drilled to date.
“I am confident that the continuing stream of assays we will report over the coming weeks will deliver more of the same.”
The company told investors further assays will be reported progressively in the coming weeks, with 4568 metres of reverse circulation and 632 metres of core drilling complete to date.
“Last year I labelled Kangankunde ‘the King’ and the assays we are reporting certainly underpin my confidence that we are in the early stages of rapidly defining what will be one of the world’s most significant non-radioactive rare earths deposits in terms of both scale and grade,” Alistair Stephens said.
The company’s 12,500-metre phase one program is still ongoing, with three drill rigs currently spinning on site.
Lindian Resources shares were down 5 per cent to trade at 28.5 cents at 11:27 am AEDT.