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Geochemical testing at its namesake multi-mineral project in Malawi has found rare earth elements (REEs) and niobium at all 11 priority targets identified by Chilwa Minerals Ltd (ASX:CHW) last year.
The company generated 47 targets through survey work at the Chilwa project last year, with detailed aeromagnetic and radiometric surveys showing the presence of magnetic and radiometric anomalies connected to REE carbonatite mineralisation.
This allowed for a soil sampling program in November to test the nature of these targets.
Results have been yielded for the first 11 (priority) targets, which are located on licence EL0670-22 – along the western and northern shores of Lake Chilwa in Southern Malawi, and they found highly anomalous element responses (plus 10 to >500 times background) for key ‘mineral system elements’ including REEs.
The responses are sometimes defined as coincident, coherent discrete multi-element anomalies (element indices) along individual target lines, while some multi-element indices are not coincident, and show metal zoning within each target.
In terms of the REE mineralisation identified, its data distinctly partitions into Light (LREE), Medium (MREE) and Heavy (HREE) groups.
Managing director Cadell Buss said the results were a positive follow-up to the previous exploration at the project, adding: “This initial batch of REE soil results indicates the region is fertile for REE mineralisation and supports the results received from the early drilling at Mposa.”
“We know that the sub-continental mantle source is similar to the one that generated the carbonatite melts at Kangankunde,” he continued.
“These results have given us more confidence relating to the REE and Niobium aspect of the asset. We are pleasantly surprised by the presence of light, medium, and heavy rare earth elements.”
Chilwa shares moved up on the news and at 13:05 AEDT, they were at 82 cents – a rise of 3.8% since market open.
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