Lindian wows with first assays from Malawian rare earth project

Lindian Resources has received its first assays from the company’s maiden campaign at its Kangankunde project in Malawi showing continuous rare earths mineralisation from surface across the length of both holes.

Assay highlights include a 1m section recording an outstanding 11.8 per cent total rare earth oxide, or “TREO” from 13m with a second 1m section going 11.1 per cent TREO from 12m.

Wider assays from the first hole drilled showed a whopping 110m segment at an average of 2.9 per cent TREO from surface that includes a 12m section going 4.2 per cent TREO from surface. The 12m hit includes 1m at 7.2 per cent TREO from 8m in addition to 1m reading 6.4 per cent TREO from 4m. Additional highlights from the first hole show a 25m section going 3 per cent TREO from 34m and a deeper 20m hit at 3.9 per cent TREO from 64m.

The second hole recorded an even wider 250m at an average of 2.9 per cent TREO from surface that includes 16m at 5.7 per cent TREO from surface. The 16m intersection contained a 2m hit going an impressive 11.5 per cent TREO from 12m. A 79m section returned 3.2 per cent TREO from 30m in addition to 29m going 3.5 per cent TREO from 124m. A deeper 66m intercept recorded 2.5 per cent TREO from 211m.

The company says both holes ended in mineralisation and will be extended with core drilling with assays recording very low uranium and thorium results.

Lindian Resources Chief Executive Officer, Alistair Stephens said: “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.”

Kangankunde is considered one of the world’s largest rare earth operations outside of China and hosts an outdated resource of 2.53 million tonnes grading 4.24 per cent rare earths oxide and containing 107,000 tonnes of rare earths oxide when using a cut-off grade of 3.5 per cent. It is a carbonatite-hosted system with mineralisation exposed at the surface and open at depth.

The ratio of neodymium and praseodymium, or “NdPr” in the total concentrate at the project is about 19 per cent and a mining licence has already been secured for the site. The ratio of NdPr in the first set of assays came in at an impressive 21 per cent of the total content. Lindian says NdPr has become increasingly valuable since the project’s economics were last independently evaluated more than 10 years ago.

The explorer is currently undertaking phase 1 of its 12,500m resource definition drilling program including 10,000m of RC drilling and a further 2500m of diamond drilling to test mineralisation to a depth of 300m. The 44-hole campaign includes two RC rigs and one diamond drill rig.

The company has completed a total of 4061m of RC drilling and 489m of core drilling with the campaign set to recommence early this month.

With additional assays due in the coming weeks, the market will be keen to see if Kangankunde can replicate the outstanding rare earth results from its first two drill holes.

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