- Lanthanein Resources (LNR) confirms high-grade rare earth element (REE) mineralisation at its Lyons project in Western Australia
- The company says new drill results have shown REE mineralisation over one kilometre of strike at the Lyons 12 and 13 prospects, and it remains open
- According to Lanthanein, neodymium and praseodymium constitute up to 55 per cent of the total rare earth oxide grades — reportedly more than three times the world average
- The company believes it is “well-positioned” to make new discoveries and plans to undertake sampling and drilling work next year
- Company shares are down 6.9 per cent to trade at 2.7 cents at 12:44 pm AEDT
Lanthanein Resources (LNR) has confirmed high-grade rare earth element (REE) mineralisation and niobium at its Lyons project in Western Australia.
The company has received new drill results from a 53-hole program that targeted REE mineralisation at the outcropping ironstones at the Lyons 11, 12, 13 and 27 prospects. These outcropping ironstones were discovered during Lanthanein’s first drilling program after acquiring the Lyons project less than a year ago.
Drill results have shown confirmed “economic” REE mineralisation extending over one kilometre of strike at Lyons 12 and 13, with high-grade REE mineralisation remaining open at depth and along strike.
Highlighted results from Lyons 12 and 13 include three metres at 0.82 per cent total rare earth oxides (TREO) from 30 metres, including one metre at 1.67 per cent TREO from 31 metres, and one metre at 1.01 per cent TREO from 49 metres.
Lanthanein noted high grades of neodymium and praseodymium, which constituted up to 55 per cent of the TREO grades. The company said this was more than three times the world average.
The company also received “encouraging” results from Lyons 27, which include five metres at 0.69 per cent TREO from 20 metres, including two metres at 1.06 per cent TREO from 21 metres.
“The high-grade REE results returned in drilling have exceeded our expectations, demonstrating economic REE mineralisation from outcrop extending over one kilometre of strike at Lyons 12 and 13,” Technical Director Brian Thomas said.
“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.”
Next year, Lanthanein Resources will undertake field sampling work and multiple drilling programs to unlock potential new discoveries.
Company shares were down 6.9 per cent to trade at 2.7 cents at 12:44 pm AEDT.