A summary of what has happened to date for New, potential and existing holders.
What a cracking start to 2023!!
We have had 11 holes announced from surface and ending in mineralisation….WOW
110m @ 2.9% TREO
250m @ 2.9% TREO
184m @ 2.49% TREO
97m @ 2.84% TREO
300m @ 2.31% TREO
272m @ 2.06% TREO
186m @ 2.97% TREO
117m @ 2.76% TREO
131m @ 2.14% TREO
138m @ 1.47% TREO (mixed breccia zone – 1st encounter)
32m @ 2.68% TREO (stopped due to broken ground)
NdPr ave 20%
multiple sections with grades ranging from 3% to 6% TREO with a maximum of 11.8% TREO!
The Kangankunde Project has 3 licences - Environmental, Exploration and Mining
It means LIN are fully licenced and certified to build a mining operation.
Having a mining licence is very significant for LIN and puts them ahead of many Rare Earth projects still waiting for their mining licence, as it can take many years!
LIN is on a fast-track process. As Alastair stated in one of his interviews, “we are not mucking around with this project”.
A key feature of this project is that it is "non radioactive". Every assay (drill hole) so far, has shown to be non-radioactive, which confirms this deposit is the only one in the WORLD of its kind.
As mentioned before, this is a major plus, as there are no environmental issues. This in turn means our product is more marketable and can be shipped and sold around the world. This provides low risk to the company and lower capital costs.
Metallurgical results:
Historical results showed a 60% recovery of monazite and a grade of 60% rare earths in mineral concentrate.
A 1 tonne sample is currently in quarantine in Australia. I think it should be released this week and will be at the lab shortly, for them to start the metallurgical test works. I think the plan is to release preliminary results in Feb/Mar, with the full set of results during Quarter 2.
We are currently drilling at the top of the hill, which is 200m above the plane/ground level.
It is assumed that mineralization could go down 300m to 600m below ground level
We already know the current total mineralisation depth is 300m (200m above ground and 100m below) and still open at depth.
PEER COMPARISON:
Compared to our peers, LIN looks like a bargain as the size (tonnage) and grade is already proving to be correct, in terms of this deposit dubbed as being one of the largest Rare Earth projects in the WORLD, outside of China.
The funny thing is all our peers MC’s have been going up and LIN’s SP, has gone backwards with fantastic results. Sooner or later the market will have to re-rate LIN.
LIN 100MT to 300MT ???? MC $234m
DRE 14MT @ 1.1% TREO / MC $340m
HAS 29.9MT @ 0.93% TREO / MC $472m
ARU 56MT @ 2.6% TREO / MC $1.2B+
LYC 55MT @ 5.4% TREO / MC $8.2B
If the assays prove that the hill is all mineralised, 0m to 200m above ground level, that alone will indicate a resource of 80MT to 120MT @ ~2.5% TREO. That is enormous and does not include mineralisation below ground level and the mixed breccia zone!!
Alastair sums it up: “Last year I labelled Kangankunde ‘the King’ and the assays we are reporting certainly underpin my confidence that we are in the early stages of rapidly defining what will be one of the world’s most significant non-radioactive rare earths deposits in terms of both scale and grade. Lindian is very well-placed to fast-track Kangankunde’s development with Exploration, Environmental and Mining Licences in place as well as healthy support from the Government and the local Community.”
Imo, what makes Kangankunde different to other projects, is the consistent grades, over huge intervals of 200m to 300m which ends in mineralisation!! No other project comes close. Look at our peer assay results!
After the 44 holes are completed, we have the 2 massive 1,000m diamond holes to see how far mineralisation goes down and understand the geology.
Alastair made 2 significant comments last week (24th Jan), which are very important for the project.
"The fact that Hole KGKRC007, located on the western edge of the carbonatite, was our highest grading hole to date provides a high degree of confidence that the assay grade of the central carbonatite unit is likely to be largely consistent throughout and to depth."
"In addition, we are highly encouraged by what we have encountered in hole KGKRC010, as it is the first time we have drill-tested the mixed breccia zone of carbonatite and altered wall rock which borders the high-grade carbonatite, and to have intersected 138 metres grading 1.47% in material that we anticipated to be much lower grade is very significant and builds the case that the breccia surrounding and intruding into the carbonatite on the edges could host significant additional rare earths mineralisation. "
This could significantly increase the resource potential.
There is growing interest from around the world, as this is a game changing project!
As per the announcement on the 24th Jan, "Interest from participants in the rare earth industry has escalated in assisting Lindian's development of a proposed demonstration plant"
MALAWI - A new force in mining
The mining industry in Malawi is in its infancy with a new Mining Act introduced in 2019 expected to forge the way for significant expansion and growth.
Having seen the impact of mining in neighbouring countries, the Malawi Government has placed mining as the primary growth sector to diversify the Malawi economy and improve living conditions for its people. A growing mining industry is the central plank of the current President’s plans for employment.
Significant mineral endowment exists in the form of rare earths, uranium, niobium, tantalum, and graphite in a country substantially underexplored.
Alastair has spent nearly a decade in Malawi building relationships. The Government, local ministers, and the local communities are 100% behind the company and are very supportive of the project.
There is plenty more news to come with more assays pending and metallurgical preliminary test work results in Feb/Mar and full results in Q2.
Holes 12,13,14 could be announced this coming week??
I don't know of any other company with so much news flow over the next 3/4mths!!
Good luck all holders.
LIN Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
(20min delay)