Lindian Resources announces final drilling results from rare earths project

Lindian Resources Limited has announced the latest assay results from the Phase 3 infill drilling program at the Kangankunde Rare Earths Project in Malawi, revealing significant intersections of mineralization with high-grade rare earth elements.

The Phase 3 program consisted of forty-five drillholes totaling 4886 meters, with the results from nine reverse circulation (RC) holes now reported. All holes assayed showed extensive mineralization to the end of the hole, with significant percentages of critical rare earths metal elements neodymium and praseodymium (NdPr).

Notable highlights from the final drill assay results include: 80 meters at 3.83% Total Rare Earth Oxide (TREO) from surface to end of hole in KGKRC099, 140 meters at 3.20% TREO in KGKRC096, 100 meters at 3.09% TREO in KGKRC097, 80 meters at 2.72% TREO in KGKRC109, and more.

The average grade of the rare earths critical metal elements NdPr remains consistent at around 20% of TREO, with grades of up to 23.5% TREO recorded. The current Mineral Resource Estimate stands at 261 million tons at 2.19% TREO, containing 5.7 million tons of TREO, with an update expected to be published this month. A Feasibility Study is also due to be released this quarter.

Lindian’s CEO, Alistair Stephens, expressed pride in the team’s efforts in defining one of the world’s best rare earths deposits, while Executive Chairman Asimwe Kabunga highlighted the rapid advancement of the project development and growing interest from various parties eagerly awaiting the Feasibility Study. The company is confident that the study will demonstrate the project’s compelling economics and pave the way for construction to begin in the coming months.