DY6 Metals’ (ASX:DY6) share price has spiked 328.57% to $0.180 as of 111am AEST today (29 April), following commissioning preliminary testwork on a bulk sample from Tundulu Rare Earth and Phosphate Project in Malawi.
This testwork will determine the usefulness of the deposit to produce rare earth and phosphate concentrate, undertaken by Auralia Metallurgy in Perth. The results are due in the coming weeks.
Historical drill results at Tundulu have identified the presence of ‘high-grade’ gallium oxide mineralisation from surface.
Some of the historical intercepts include 74m at 93.26 grams per tonne gallium oxide, 1.56% Tundulu Project from 72m, including 14m at 202.79g/t gallium oxide from 89m.
Only 40% of target areas have been drill-tested, including Nathace and Tundulu hills.
Gallium is dispersed in small amounts in various minerals and rocks where it substitutes for elements of similar size and charge, such as aluminium and zinc. It is produced primarily as a byproduct of alumina refining and used in most electronics.
China currently accounts for 98% of global gallium production.
The Tundulu Project, covering 91.5km2, is a known carbonatite ring complex with rare earths mineralisation.
DY6 is an emerging supplier of rare earths and niobium, owning three prospective heavy rare earths and critical metal projects in Southern Malawi.
Write to Maddison Elliott at Mining.com.au
Images: DY6 Metals
