NGX (ASX:NGX) has identified shallow rutile mineralisation at its Msinja prospect in Malawi, less than 2km from the company’s Malingunde Graphite Project.
The company completed 19 hand-auger holes at Msinja as part of a 61-hole maiden drilling program across two regional exploration licences.
NGX reports that 16 of the 19 holes intersected mineralisation from surface, with most remaining open at depth.
Results include 7m @ 0.91% rutile from surface, including 2m @ 0.97%; 7m @ 0.77% from surface, including 3m @ 0.89%; and 6m @ 0.65% from surface, including 2m @ 1%.
NGX is evaluating whether the Msinja mineralisation could be incorporated as a by-product stream in a future operation at Malingunde, where technical studies are underway.
The company says any integration would require further drilling, metallurgical test work, and economic assessment. No production target or economic forecast has been established.
Executive Director Peter Fox says the results provide the company with additional development options alongside its graphite interests.
“These results are highly encouraging and provide NGX with valuable strategic optionality,” Fox says.
“While we remain firmly bullish on the long-term fundamentals of natural graphite within the energy transition, achieving these positive rutile results during a soft market cycle underscores the quality of our broader exploration portfolio.”
The regional program investigated titanium mineralisation previously identified by former project owner Sovereign Metals (ASX:SVM).
NGX also drilled 42 hand-auger holes at its Lifidzi prospect, noting results were below expectations, with limited mineralisation encountered.
The company also says further exploration planning is underway for Msinja, while NGX is assessing its options for the Lifidzi licence.
Write to France Pinzon at Mining.com.au
Images: NGX
