Lindian Resources Unveils Impressive Rare Earths Infill Drilling Results
February 24, 2024
Written by Bester KayayeLindian Resources Limited (ASX: LIN) has reported significant findings from the Phase 3 infill drilling program at the Kangankunde Rare Earths Project in Malawi.
The assay results, received for the initial 21 holes of the program, reveal consistent high-grade mineralization, demonstrating strong continuity from surface to end of hole in planned first-phase mining areas.
The highlights of the findings include exceptional intersections such as 150 meters from surface to End of Hole (EOH) averaging 3.78% Total Rare Earth Oxides (TREO) in KGKRC087, and 75 meters from surface to EOH averaging 3.57% TREO in KGKDD011, among others.
Asimwe Kabunga, Lindian's Executive Chairman, expressed the importance of these assay results in the context of the ongoing Feasibility Study for the Stage 1 mine development.
Kabunga stated, "Assay results from the Phase 3 drill program are an important body of work and key to the delivery of our Feasibility Study for the Stage 1 mine development that is now underway."
Alistair Stephens, Lindian's Chief Executive Officer, highlighted the significance of the high-grade rare earths consistency across a ~300m section from the surface of the Kangankunde deposit. Stephens noted, "We are on track to report our upgraded MRE this quarter which will be followed shortly thereafter by our Feasibility Study."
The Kangankunde Rare Earths Project, with its globally significant rare earth resource potential in terms of size, grade, and quality, holds promise for becoming one of the largest rare earths deposits in the world. Lindian's ongoing development strategy aims to produce a concentrate bearing 60% REO for export.
The Phase 3 program, which included forty-five drillholes for 4,886 meters, has encountered logistical delays with shipments from Malawi during the 2023 Christmas period. However, all holes assayed demonstrate extensive intersections of mineralization to end of hole, with significant percentages of critical Rare Earths metal elements neodymium and praseodymium (NdPr).
The company anticipates releasing further assay results from the remaining twenty-eight drillholes before the end of February. Lindian Resources is well-positioned with its Kangankunde project to contribute significantly to the global rare earths supply chain.
Lindian Resources Limited holds ownership of Malawian registered Rift Valley Resource Developments Limited, which has 100% title to Exploration Licence EPL0514/18R and Mining Licence MML0290/22, supported by an Environmental and Social Impact Assessment Licence No.2:10:16.
The company is expected to report an updated Mineral Resource Estimate (MRE) prior to the release of the Feasibility Study, scheduled for the end of the March quarter.