Lindian (ASX:LIN) return another outstanding strike at Kangankunde
July 31, 2023Lindian Resources’ first of two deep holes into Kangankunde has returned an exceptionally thick, high-grade strike of rare earth mineralisation, coming in at 854m at 2.73 per cent TREO from a Malawi critical mineral asset dubbed simply as ‘The King’.
The upper portion of the hole is slated to become part of a maiden Mineral Resource Estimate to be soon revealed, with non-radioactive materials stretching from the start to finish and holding a 19 per cent ratio of prized neodymium and praseodymium.
Already standing as one the world’s largest rare earth operations outside of Chinese borders, Lindian Executive Chairman Asimwe Kabunga said the results had continued to reinforce the massive scale and grade of Kangankunde.
“It demonstrates that the project will play an important role in the rare earths industry to stabilise and balance supply for multiple generations. We are now firmly focused on bringing the mine into production and delivering a new, stable supply of rare earths concentrate to market,” Mr Kabunga said.
After acquiring Kangankunde for US$30 million, Lindian Chief Executive Alistair Stephens told the company Chairman it was the deal of a lifetime, and he says this latest drill hole is stunning, confirming that mineralisation extends to at least 850 metres vertically.
“The consistency of mineralisation is astonishing. 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,” Mr Stephens said.
“The receipt of these assay results allows the upper portion of this hole to be incorporated into the maiden Mineral Resource Estimate expected to be finalised and released in the coming days. Congratulations to our team for bringing this hole to completion, which culminates in a major resource development for the rare earths industry.”
The next Phase 2 hole drilled to 1000 metres is in transit to the lab, with assays expected as soon as next month, with a new and hotly anticipated resource to be unveiled in the coming days.
Section showing latest assays and near surface Phase 1 drilling results
$0.21Please note the following valuable information before using this website.
Independent Research
Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.
