Lindian Resources has hailed its Kangankunde rare earths project in Malawi as “one of the greatest in the world” after recording a massive 853.6m hit at 2.73 per cent total rare earth oxides (TREO) from 52m.
The outstanding result is from the first of two deep diamond drillholes that were sunk to a depth of 980m and returned 156m at 3.61 per cent TREO from 124m and a 56m hit grading 3.83 per cent TREO from 289.1m.
Lindian says a standout 554.6m section going 2.52 per cent TREO from 351m demonstrates consistent mineralisation, high grades at depth and broad intercepts. Importantly, mineralisation was present from the start to the end of the hole.
Management will use the upper portion of the latest hit to form a maiden mineral resource for the Malawi operation. It is expected to be released within days.
A second deep diamond drillhole has also been completed to a depth of 1km, with assays in transit to the laboratory. Assay results are expected next month.
Lindian Resources chief executive officer Alistair Stephens said: “This assay interval is one of Lindian’s most material developments and undoubtedly establishes Kangankunde as one of the greatest, most significant and unique rare earths projects in the world, underpinned by excellent grade and uniquely non-radioactive.”
Kangankunde has steadily become recognised as one of the world’s biggest rare earths operations outside China and hosts an outdated resource of 2.53 million tonnes grading 4.24 per cent TREO for 107,000 tonnes of contained rare earths when using a cut-off grade of 3.5 per cent. It is a carbonatite-hosted system with mineralisation exposed at surface and it is still open at depth.
In March, the company recorded a 3m hit at a whopping 15.6 per cent TREO from 69m. The high-grade intercept is contained within a bigger 26m section grading 6.15 per cent TREO from 58m and includes a 1m segment at a head-turning 18.76 per cent TREO from 71m.
The company’s initial phase of drilling covered more than 12,500m and included 81 reverse-circulation (RC) holes in addition to 10 core drill holes, including six core tails over 1642m. Management says all assays contain significant values of the light rare earths neodymium and praseodymium (NdPr) at an average grade of 20 per cent of the TREO figure. The latest intercept showed an NdPr ratio of about 19 per cent.
Just last week, Lindian completed the third of four tranche payments required to acquire the Kangankunde’s current owner Rift Valley Resources Developments. The last sum is due to be paid by the end of July in 2026, or upon commercial production at Kangankunde, whichever comes first. However, the company has the right to make the remaining tranche payment sooner if it so chooses.
With results still pending from its second deep diamond drill hole, in addition to a maiden mineral resource on the cards soon, the market will be keeping a close eye on what Lindian will unearth next at its key Malawi operation.
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