Neodymium rare earths
Photo by: Bloomberg
ASX-listed rare earths explorer Pensana Metals expects to upgrade its mineral resource estimate following promising results from a 7 000 m drilling programme, at the Longonjo project, in Angola.
The results include high-grade shallow intersections from a new zone of mineralisation located 600 m to the west of the current prefeasibility study pit design.
The 400 m zone, which remains open to the north, has reported intersections of 14 m, grading 5.85% rare earth oxides (REO), including 1.07% neodymium and praseodymium, and 36 m grading 6.74% REO, including 1.10% neodymium and praseodymium.
Both of these results are well above the average grade of the current mineral resource estimate, says Pensana.
“These high-grade drill results are from well outside the limits of the current pit design and, along with the upgrade of significant amounts of the existing mineral resource estimate, we expect to significantly extend the mine life at Longonjo on completion of the definitive feasibility study work programmes,” said COO Dave Hammond.
The company still has to report on results from 138 drill holes.