Lindian Resources Ltd (ASX:LIN) has intersected more high-grade rare earths at its Kangankunde project in Malawi, with the best continuous intersections yet.
All drilled holes have long intersections of high-grade, non-radioactive rare earths ending in mineralisation.
Lindian Chief Executive Officer Alistair Stephens said: “These latest assay results are some of our highest grades to date with three holes averaging better than 3 per cent TREO over continuous intervals of 150m or more from surface.
“Since the commencement of this drilling program, Kangankunde has consistently delivered assays of 2.5-plus per cent over extensive lengths with almost all holes ending in mineralisation, the NdPr ratio being over 20 per cent and the material being non-radioactive.
“The results reinforce our firm belief that Kangankunde is rapidly emerging as one of the world’s Tier 1 rare earths deposits.
“These high-grade results are largely from the northern part of the central carbonatite, an area that is showing considerable promise, and for which further assays are pending.
“We are yet to define the depth and extremities of the mineralisation and with our Phase 2 program now well underway, we will likely get a better understanding of the extent of the orebody.
“These latest results, and assays pending from the remaining 49 holes, will form part of the Mineral Resource Estimate due to be reported this quarter.
“As well as development drilling, metallurgical test work is ongoing, so too is work on the planned Phase 1 processing plant. We look forward to reporting more operational updates.”