PERTH (miningweekly.com) – ASX-listed Lindian Resources has announced an exploration target of between 400-million and 800-million tonnes, grading between 2% and 2.7% total rare earth at its Kangankunde project, in Mali.
The announcement of the exploration target follows shortly on the report of a maiden mineral resource of 261-million tonnes at Kangankunde. Grading 2.19% total rare earth oxides, the project is estimated to host 5.7-million tonnes of contained rare earths, including 1.2-million tonnes of contained neodymium-praseodymium.
“This exploration target is a defining event for Lindian and for Malawi. While our mineral resource estimate is itself outstanding, the exploration target demonstrates the potential for the Kangankunde project to grow significantly with further exploration activity and is, without a doubt, one of the world’s largest rare earths deposits and an asset that is expected to have a material impact on the rare earths sector globally,” said Lindian executive chairperson Asimwe Kabunga.
“It firmly positions Lindian as a major player in the industry with an asset that is fully permitted, licensed for production and enjoying very strong government and community support. We believe Kangankunde is highly attractive to potential offtakers for its ability to provide long-term consistent product supply. Further, we are making excellent progress for bringing our Stage 1 mining and processing operation online in late 2024 backed with a strong cash balance.”