The assays reported are for the first two reverse circulation (RC) holes, KGKRC001 and KGKRC002
The assays reported are for the first two reverse circulation (RC) holes. (Credit: Zac Edmonds on Unsplash)
Lindian Resources Limited (ASX:LIN) (“Lindian” or “the Company”) is pleased to advise the receipt of the first two batches of assays from the Phase 1 drilling program at the Kangankunde Rare Earths Project in Malawi.
The assays reported are for the first two reverse circulation (RC) holes, KGKRC001 and KGKRC002. Both holes contain mineralisation 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.
Lindian’s Chief Executive Officer, Alistair Stephens commented: “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. 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 mineralisation – 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.”
Assay results have been received from the first two RC holes in the Phase 1 Kangankunde Rare Earths Project.
Results for holes KGKRC001 and KGKRC002 demonstrate continuous rare earths mineralisation 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. Figure 3 provides a plan view of the Kangankunde carbonatite geology.
Source: Company Press Release