Lindian Resources Limited (ASX:LIN) has confirmed that assays from the first two drill holes the Phase 1 drilling programme at the Kangankunde Rare Earths Project in Malawi demonstrate outstanding grades of up to 11.8% TREO and show continuous rare earths mineralization over the entire length of holes from surface.
Both holes contain mineralization with very high rare earths grades, broad intersections of non-radioactive material over the entire lengths of the holes, a large percentage of critical battery metal elements of NdPr. The holes ended in mineralisation which will be further extended with core drilling later in the program,e.
“These first assay results are absolutely outstanding in terms of grade, distribution and continuity, and with a steady stream of assays to follow, we are confident of delivering more of the same and building the case that in 2023, Kangankunde will rapidly emerge as a standout, globally significant rare earths project in terms of grade, scale and non-radioactivity,” CEO, Alistair Stephens, said.
“Today’s results should be regarded as a leading indicator of this. I am not aware of another deposit anywhere in the world demonstrating such high grades of rare earths mineralisation over these continuous lengths to such depth.
“Added to this is the non-radioactivity of the Kangankunde rare earths mineralization – a highly unique and extremely commercially advantageous characteristic, with the potential for concentrates from Kangankunde to be shipped anywhere in the world, free of Class 7 restrictions. The commercial signficance of this cannot be understated.
“The high content of NdPr reported in these assays is in line with historical work and indicates that the concentrates from Kangankunde will be in high demand with NdPr being used to produce strong permanent magnets critical to global decarbonisation technolgies including EVs and wind turbines.
“With a total of 26 RC holes for 4,061 metres and 2 core drill holes for 489 metres completed prior to the drilling break for the festive season, we anticipate reporting a steady stream of assays from here on.
“Concurrently, other mine development work is expected to commence shortly which will add another reporting stream alongside ongoing assay results, the delivery of an exploration target and maiden Mineral Resource Estimate sometime in Q2 CY2023. Lindian is in excellent shape, we are well capitalised and these results will only increase investor interest and awareness in Kangankunde globally. We look forward to delivering more good news very soon.”
Results for holes KGKRC001 and KGKRC002 demonstrate continuous rare earths mineralization over their entire drill lengths. Both drill holes were collared in the central zone of the Kangankunde carbonatite complex and designed to drill toward the outer margin of the central carbonatite. Neither hole reached the outer margin of the central carbonatite.
The holes were entirely drilled in carbonatite or carbonatite breccia with two main alteration types associated with mineralization logged. The alteration comprises:
• Iron oxide and manganese oxide in moderately weathered to fresh carbonatite with individual Total Rare Earth Oxides (TREO) up to 11.8% TREO, the primary rare earth bearing mineral monazite, is frequently visible in the drill cuttings, and
• Potassic (fenite) alteration; associated with carbonatite ranging from 1% to 2% TREO.
For further information please visit: https://www.lindianresources.com.au/
