Lindian Resources reports final drilling results at rare earths project

The Phase 3 programme included forty-five drillholes for 4886 m. The assays reported are from a total of nine drill holes reverse circulation (RC) holes.

All holes assayed demonstrate extensive intersections of mineralisation to end of hole (EOH), are nonradioactive and have significant percentages of critical Rare Earths metal elements neodymium and praseodymium (NdPr).

Highlights:

• Final drill assay results identify continuous high-grade mineralisation.
• Significant intersections include:
• 80 m @ 3.83% TREO from surface to EOH in KGKRC099.
• 140 m @ 3.20% TREO from surface to EOH in KGKRC096.
• 100 m @ 3.09% TREO from surface to EOH in KGKRC097.
• 80 m @ 2.72% TREO from surface to EOH in KGKRC109.
• 150 m @ 2.62% TREO from surface to EOH in KGKRC093 including:
  • 90 m @ 3.54% TREO from 58 m.
• 150 m @ 2.60% TREO from surface to EOH in KGKRC098 including:
  • 21 m @ 4.49% TREO from surface, and
  • 66 m @ 3.20% TREO from 70 m.
• Average grade of rare earths critical metal elements neodymium-praseodymium (NdPr) remains consistent at ~20% of TREO with grades of up to 23.5% TREO recorded.
• The current Mineral Resource Estimate (MRE) of 261 million t @ 2.19% TREO contains 5.7 million t of TREO.
• Planned update to MRE expected to be published this month.
• Feasibility Study due this quarter.

Lindian’s Chief Executive Officer, Alistair Stephens said: “Assays for the Phase 3 drill programme are now finalised. Lindian’s technical team has completed more than 20.7 km of drilling at Kangankunde in less than 15 months to define what is one of world’s best rare earths deposits with excellent grade, non-radioactive material, a high NdPr ratio and enormous scale. Our technical team is to be congratulated for their efforts. This month we will reported an updated Mineral Resource Estimate that includes the Indicated component of the Resource as well as an Ore Reserve Estimation which is another meaningful benchmark to assess the project’s unlocked value. Following this will be further updates on mine development capex and opex prior to the release of the Feasibility Study this quarter.”

Lindian’s Executive Chairman, Asimwe Kabunga added: “Kangankunde’s project developmnent continues to advance very rapidly with multiple workstreams advancing concurrently so we can commence construction in the coming months. Interest in the asset continues to build from a broad number of interested parties with many keenly awaiting our Feasibility Study. We are confident it will showcase the project’s compelling economics.”

Read the article online at: https://www.globalminingreview.com/mining/08042024/lindian-resources-reports-final-drilling-results-at-rare-earths-project/