Critical minerals explorer DY6 Metals (ASX:DY6) is eyeing metallurgical testwork for early 2024 as it reports ‘high-grade’ heavy rare earth element (HREE) and niobium results from its Machinga Project in Malawi.
The results come from an 8-hole diamond drilling program for a combined 900m across the project, and the company says it will use the core from this campaign in its upcoming metallurgical work to assess the amenability of the mineralisation to be treated through a ‘relatively simple’ beneficiation process.
The top results from the recent diamond drilling work include hole MDD007 with 15.1 @ 1.01% total rare earth oxides (TREO) and 0.36% Nb2O5 from 23.9m, including 4m @ 1.75% TREO and 0.63% Nb2O5 from 33m; hole MDD006 with 9m @ 0.7% TREO and 0.3% Nb2O5 from 3m; and hole MDD004 6.1 @ 1.09% TREO and 0.03% Nb2O5 from 22.5m.
The holes returned an average grade of 29% heavy rare earth oxides (HREO) to TREO and 3.6% dysprosium-terbium (DyTb) to TREO at a cutoff grade of greater than 0.25% TREO.
DY6 CEO Lloyd Kaiser says the assay results show ‘outstanding’ intersections across multiple drillholes.
“The successful RC and DD drilling program has greatly improved the geological team’s interpretation of the Machinga system, including the structural and lithological controls. The final assay results and historic intersections will feed into our current geological model to guide our next exploration program design.
The company now moves towards progressing a technical evaluation of the mineralisation to target a REO concentrate and Niobium by-product.”
“The company now moves towards progressing a technical evaluation of the mineralisation to target a REO concentrate and Niobium by-product”
DY6 says its next stage of exploration is already underway, with rock chip sampling at Machinga focused on stepping out northwest of the phase one drilling campaign and along the southern zone of Machinga. The company plans to use the information gathered from this work to delineate drill targets for a phase two program in 2024.
DY6 Metals had $4.7 million cash and cash equivalents at hand as of 30 September 2023. The company has a $3.52 million market capitalisation.
Write to Joshua Smith at Mining.com.au
Images: DY6 Metals
