Lanthanein Resources (ASX:LNR) reports assays from a recently completed drilling program has confirmed ‘high-grade’ rare earth elements (REE) and niobium at the Lyons REE Project in Western Australia.
The company says the maiden drilling program, consisting of 53 reverse circulation (RC) holes for 3,510m, targeted ‘high-grade’ REE mineralisation discovered at the outcropping ironstones at Lyons 11, 12, 13, and 27.
‘Significant’ intersections recorded at Lyons 12 and 13 include LYRC036 with 3m @ 0.82% TREO from 30m, including 1m @ 1.67% TREO (55% neodymium-praseodymium:TREO) from 31m; LYRC018 with 3m @ 0.57% TREO from 6m including 1m @ 1.11% TREO (51% NdPr:TREO) and 0.79% niobium pentoxide (Nb2O5) from 8m.
‘Significant’ results recorded at Lyons 27 include LYRC047 with 5m @ 0.69% TREO from 20m including 2m @ 1.06% TREO (41% NdPr:TREO) from 21m.
Lanthanein Resources Technical Director Brian Thomas says: “The high-grade REE results returned in drilling has exceeded our expectations, demonstrating economic REE mineralisation from outcrop extending over 1km strike at Lyons 12 and 13, with high-grade REE mineralisation remaining open at depth and along strike.
“We are extremely pleased with the exceptionally high NdPr component, more than 3 times the world average, giving these ironstones of significant economic value”
We are extremely pleased with the exceptionally high NdPr component, more than 3 times the world average, giving these ironstones of significant economic value.
In under a year since acquiring the Lyons project we have discovered multiple outcropping ironstones and completed the first ever drill program on the tenement, confirming that outcropping ironstones are mineralised with REE at multiple prospects and remain open at depth and along strike.
With significant drill programs planned for 2023, we are well positioned to continue to build on our discoveries made to date and hopefully add further new discoveries.
We are yet to drill test multiple targets such as the large-scale ferrocarbonatite targets. We were recently awarded a $200,000 government Exploration Incentive Scheme (EIS) funding support, and plan to test the very interesting geophysical targets under shallow cover that extend over multiple kilometres mirroring Dreadnought Resources (ASX:DRE) ironstone and carbonatite discoveries at Yin and Sabre.
The encouraging results from Lyons 27 opens up the northwest area of the tenement, with recent field sampling identifying additional outcropping ironstone along strike. There is an exciting pipeline of drill targets for 2023 and we look forward to continuing to prove the Gascoyne region’s significance as a major Australian REE producing region alongside Dreadnought and Hastings Technology Metals (ASX:HAS).”
Niobium has also been intersected on the margins of the Lyons Magnetic Intrusive Complex related to other carbonatites under cover.
Lanthanein reports ‘significant’ drill programs are planned for 2023 to step-out and infill known REE mineralisation for resource estimation in the second half of 2023. Geophysical review of magnetic and radiometric surveys flown by the company has also highlighted multiple areas of interest under shallow cover which is yet to be tested.
The ‘highest’ priority targets are the high magnetic curvilinear trends which show a similarity to Dreadnought’s Yin and Sabre discoveries.
The company reports it has also received $200,000 in EIS funding from the Western Australian Department of Mines Industry Regulation and Safety (DMIRS) to investigate potential for large tonnage REE carbonatites similar to Lynas Corporation’s (ASX:LYC) Mount Weld deposit.
Assays will continue to be received over December and January with the company stating around 70% of the results have currently been returned.
Lanthanein Resources is an ASX-listed emerging REE explorer working towards building a ‘sustainable’ and electric future. The company is focused on the discovery of critical minerals in Western Australia and South Australia.
Its projects include the Gascoyne and Koolya Projects in Western Australia and the Murraydium Project in South Australia.
Images: Lanthanein Resources Ltd
