Pensana Metals Ltd (ASX: PM8) has reported more high-grade drill results from its infill drilling programme at the Longonjo NdPr Project in Angola.
The company said that results include some of the highest grades returned from the project to date and confirm the continuity of the thick blanket of NdPr mineralization from surface.
Highlights include 14m at 5.20% REO including 1.06% NdPr from surface; 22m at 4.16% REO including 0.82% NdPr from surface to end of hole; and 8m at 8.08% REO including 1.54% NdPr from surface.
Pensana announced that assay results from the remaining drill holes are expected shortly. This is expected to allow an updated Mineral Resource estimate to be completed in support of the Preliminary Feasibility Study scheduled for completion in September 2019.
Longonjo NdPr Project
The Company’s 84% owned Longonjo NdPr Project is located in Angola. The project has an updated inferred Mineral Resource estimate of 240 million tonnes at 1.60% REO including 0.35% NdPr for 3,850,000 tonnes of REO including 840,000 tonnes of NdPr.
It may be noted that NdPr stands for Neodymium and Praseodymium (neodymium+praseodymium oxide) which are two rare earth elements used in the magnets for electric motors.
RC Infill Drilling Programme
The company has commenced a 66 hole reverse circulation (RC) infill drilling programme at Longonjo NdPr Project. The infill drilling programme focused on a portion of the higher grade component of the weathered zone Mineral Resource estimate, which at a cut off of .65% NdPr comprises in total 22.9 million tonnes at 4.16% REO and .86% NdPr containing around 953,000 tonnes REO including 197,000 tonnes NdPr.
The company said that the objective of the programme is to provide data to support an Indicated JORC category Mineral Resource estimate over a portion of the high grade weathered zone at Longonjo for the PFS that is scheduled for completion in September 2019.
Pensana announced that new high-grade intersections were received from a further 24 holes of the 66 hold RC infill drilling programme. Additional drill holes were also completed to test for potential extensions to high-grade NdPr mineralisation along the southern margins of the carbonatite.
- 14 metres at 5.20% REO including 1.06% NdPr from surface;
- 22 metres at 4.16% REO including 0.82% NdPr from surface to end of hole;
- 8 metres at 8.08% REO including 1.54% NdPr from surface;
- 30 metres at 5.22% REO including 1.04% NdPr from surface;
- 14 metres at 4.83% REO including 1.07% NdPr from surface and 10 metres at 4.73% REO including 0.75% NdPr from 16 metres; and
- 14 metres at 8.54% REO including 1.79% NdPr from 8 metres.
Pensana said that assay results from 50 metre x 100 metre spaced infill drill holes confirm the continuity of high-grade NdPr mineralisation from surface, with every hole intersecting mineralisation.
The company noted that high-grade mineralisation occurs from surface in this area of the deposit as a continuous thick blanket of soft weathered material up to 30 metres thick.
Diamond Core Drilling Programme
Pensana said that diamond core drilling programme has now been completed on site at Longonjo. The programme of 16 holes for approximately 500 metres of vertical PQ3 drilling was designed to provide information for the PFS.
SRK Consulting Perth has been assigned to complete a revised Mineral Resource estimate to include results from the 2019 drilling programmes.
The company said that the remaining assay results from an additional 18 RC drill holes are expected later in May, and will include the results of the exploration drill holes along the southern margin of the carbonatite.
One of the holes had intersected deeply weathered carbonatite up to 70 metres in thickness in this position. Pensana said that diamond core assays are expected in June, to allow the Mineral Resource estimate to be completed in July 2019.
Pensana’s Executive Director Dave Hammond said: “These high grade NdPr intersections are exceptional and demonstrate that the weathered blanket of mineralisation at Longonjo contains some of the best global NdPr grades.
The close spaced drilling in the proposed open pit area is confirming the continuity of the NdPr mineralisation over substantial widths from surface and will provide the detail required to support an upgrade of this part of the Mineral Resource estimate from the current Inferred to the Indicated JORC category, as is required for a Preliminary Feasibility Study.”