Lindian Resources Limited (ASX:LIN) has delivered the highest grade rare earths assays to date in the phase one drilling program at its Kangankunde Rare Earths Project in Malawi, showing continuity of high-grade mineralisation in multiple thick intercepts.
Assay results from 13 reverse circulation and four aircore drill holes revealed extensive rare earths mineralisation of up to 15.8 per cent total rare earths oxide (TREO), with all drill holes ending in mineralisation.
Lindian Chief Executive Officer Alistair Stephens said the assays being reported were nothing short of spectacular.
Stephens said: “They provide further evidence that Kangankunde has substantial rare earths grade, massive geometric size, [and] substantial depth potential, with non-radioactive mineralisation.
“All this points to the fact that Kangankunde could very soon emerger as one of the world’s greatest rare earths assets.
Furthermore, initial metallurgical work programs have ascertained the mineralisation is amenable to water-based gravity separation with exceptional recovery and grade.”
Significant intersections include 49 metres at 5.47 per cent TREO from surface; 163 metres at 3.68 per cent from surface, including 48 metres at 5.28 per cent from surface and 105 metres at 3.16 per cent from 57 metres; and 293.4 metres at 3.66 per cent from four metres, including 170 metres at 3.55 per cent from four metres and 122.7 metres at 3.94 per cent from 174.7 metres.
Low levels of thorium and uranium radionuclides were detected in all carbonatite mineralisation, while the average grade of rare earths critical metal elements neodymium-praseodymium (NdPr) was about 20 per cent of TREO (cumulative for all holes).
Phase one resource definition drilling is now complete, with assays pending on a remaining 14 drill holes.
Phase two depth extension drilling is ongoing, with second deep core hole currently at about 200 metres.
Lindian said it was on track to report a maiden Mineral Resource Estimate by the end of this quarter.