DY6 Metals to acquire 80% of lithium project in Malawi
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
DY6 Metals Ltd, a strategic metals explorer targeting Heavy Rare Earths (HREE) and Niobium (Nb) in southern Malawi, has announced that it has entered into an exclusive option to acquire an 80% interest in the Karonga Lithium Project located in northern Malawi.
The granted licence covers ~39km2 and adjoins the company’s recent licence application at Karonga (together, both licences cover ~75km2). The company’s geological team recently undertook a reconnaissance field visit at the Karonga Lithium Project. Ten reconnaissance rock chip samples from four outcrops were collected and have been submitted for laboratory analysis in South Africa.
The company’s CEO, Mr Lloyd Kaiser said: “We are pleased to have reached an agreement to secure an 80% interest in the Karonga Lithium Project in northern Malawi. The project adjoins our recently applied for prospecting licence near Karonga, adding scale potential. Importantly, field reconnaissance at the project identified a number of pegmatites – up to 25 m in width and 500 m in length – with visually observed lithium-bearing minerals. We await assay results from the reconnaissance rock chip sampling and look forward to getting back on the ground in the coming weeks.”
Read the article online at: https://www.globalminingreview.com/mining/05012024/dy6-metals-to-acquire-80-of-lithium-project-in-malawi/
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