- Pensana Rare Earths (PM8) has uncovered high-grade rare earths during the first sampling program at its Coola Project in Angola
- Results have shown a high tenor soil anomaly of up to 4.69 per cent rare earth oxides (REO)
- This means Coola is now sufficiently defined for drill testing
- Chief Operating Officer Dave Hammond believes these high-grade results are a great start to the Coola Project
- The company is now preparing to drill the target areas in 2021
- On the market this morning, Pensana is up 9.17 per cent and is trading at $1.31 per share
Pensana Rare Earths (PM8) has uncovered high-grade rare earths during the first sampling program at its Coola Project in Angola.
Coola is located 16 kilometres north of its flagship Longonjo rare earth development.
Results from the soil sampling have found a high tenor soil anomaly of up to 4.69 per cent of rare earth oxides (REO). This means Coola is now sufficiently defined for drill testing.
Chief Operating Officer Dave Hammond believes these high-grade results are a great start to the Coola Project.
“Drilling will also determine if rare earth mineralised carbonatite lies beneath the soil cover in the central part of the one-kilometre diameter volcanic pipe,” he said.
Pensana is planning to drill test the targets in 2021.
Additionally, the company has appointed Grant Hayward as its new Exploration Manager.
Grant is an accomplished economic geologist and manager with extensive experience in exploration and evaluation of rare earths.
“It is great to have Grant join us and lead the team going forward with his extensive experience in the evaluation of rare earth deposits and a whole range of other commodities,” Dave concluded.
On the market this morning, Pensana is up 9.17 per cent and is trading at $1.31 per share at 11:37 am AEDT.