TSX-V-listed Namibia Critical Metals (NMI) has reported positive results from rock samples taken from its 95%-owned Kunene project area, in Namibia.
This project is situated about 340 km north of the company’s Lofdal heavy rare earths project and represents a new light rare earth opportunity for NMI.
Grab samples taken from the carbonatite dykes have returned grades of between 9.64% and 26.47% total rare earth oxides.
NMI says the samples are highly enriched in neodymium and praseodymium, which are among the most highly valued of the light rare earth elements.
The project has confirmed mineralisation in more than 250 carbonatite dykes throughout a 30 km2 area.
The company will continue with mapping and structural analysis on site this year.
Meanwhile, NMI plans to undertake detailed soil surveys at its Erongo gold project.
The company’s Epembe tantalum/niobium project is at an advanced stage of exploration, with work under way to advance a preliminary economic assessment.