- Pensana Rare Earths (PM8) has received final assay results from the 8000-metre drill program completed at the Longonjo NdPr Project in Angola
- Latest results have confirmed the continuity of high-grade rare earth mineralisation in the weathered zone
- The results also outline wide, continuous high-grade intersections that grade between two and four per cent rare earth oxides in fresh rock
- Pensana will use the results to potentially extend the project’s mine life and upgrade Longonjo’s mineral resource estimate
- The updated mineral resource is expected to be released sometime next month
- Company shares are trading 8.05 per cent higher at 47 cents each just after midday trade
Pensana Rare Earths (PM8) has received final assay results from the last 86 holes of the 8000-metre drill program completed at the Longonjo NdPr Project in Angola.
Pleasingly, the latest results have confirmed the continuity of high-grade rare earth mineralisation from surface in the weathered zone.
The company expects to upgrade a large portion of inferred mineralisation to higher categories. This will support an extended mine life.
Highlights from the weathered zone include; 18 metres at 7.93 per cent REO, including 1.50 per cent neodymium and praseodymium (NdPr) from surface; and 22 metres at 6.69 per cent REO including 1.30 per cent NdPr from surface.
The results also outline wide, continuous high-grade intersections that grade between two and four per cent rare earth oxides (REO). These intersections have been returned from fresh rock immediately below the weathered zone.
Results from fresh rock include; 18 metres at 4.40 per cent REO, including 0.86 per cent NdPr from 44 metres; 10 metres at 3.90 per cent REO, including 0.76 per cent NdPr from 66 metres; and eight metres at 4.45 per cent REO, including 0.79 per cent NdPr from 58 metres.
This mineralisation remains open below the 80-metre drill depth and to the north and west. The reported grades and potential size of further mineralisation may add an extra dimension to the project beyond its initial mine life.
“These final results have further highlighted the world‐class opportunity at the Longonjo Project,” Executive Director and Chief Operating Officer Dave Hammond said.
“We expect these infill drilling results will allow us to upgrade the existing resource categories and extend the mine life,” Dave stated.
“With many holes ending in mineralisation at eighty metres depth, identifying several open positions, the potential for a sizeable deposit of this second style of mineralisation is an exciting possibility,” he continued.
Work has commenced updating the project’s mineral resource estimate, which is expected in September this year.
Company shares are trading 8.05 per cent higher at 47 cents each just after midday trade.