Lindian Resources says Kangankunde is world̢۪s largest REO deposit
October 05, 2023 at 12:31 pm EDT
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Lindian Resources Ltd (ASX:LIN, OTC:LINIF) CEO Alistair Stephens tells Proactive about a just-released exploration target for the Kangankunde Rare Earths Project which, together with the recently published mineral resource estimate, establishes the project as one of the world’s largest rare earths projects. The Exploration Target is between 400 million tonnes to 800 million tonnes, grading between 2.0% and 2.7% TREO. He says it firmly positions Lindian as a major player in the industry with an asset that is fully permitted, licensed for production and has very strong government and community support.
Executive Chairman Asimwe Kabunga commented: “This Exploration Target is a defining event for Lindian and for Malawi. While our MRE 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. 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 off-takers 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.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Lindian Resources Limited is a mineral exploration company. The Companyâs principal focus includes the ongoing exploration and development of the Kangankunde Rare Earths Project. In addition, the Company is advancing its portfolio of bauxite projects in Guinea. The Kangankunde Rare Earths Project is located in central Malawi approximately 90 kilometers (km) north of the city of Blantyre in the southern part of the country. The Kangankunde Rare Earths Project is rich in Neodymium and Praseodymium. Its Gaoual Bauxite Project is in northwestern Guinea within the Boke Bauxite Belt. It is situated south of the township of Gaoual in the northern portion of the Kogon-Tomine interfluve, about 65 km northeast of Sangaredi. The Lelouma Project is located just 40km from its high grade Gaoual conglomerate bauxite project. The Woula Bauxite Project is located in North-Western Guinea, and is 10km from an existing haul road connecting to the bauxite export terminal in Katougouma.