DY6 Metals stakes highly prospective lithium ground in Malawi
Special Report: DY6 Metals has submitted four exclusive prospecting licence applications totalling 746.7km2 in northern Malawi, Africa, for tenements it considers to be highly prospective for lithium.
The move comes just days after the company submitted a prospecting licence application over a carbonatite ring complex in southern Malawi known as Tundulu, with significant potential for Rare Earth Elements (REE).
The new lithium licence areas under application are ‘Mzimba’ (West, Central and South) which covers an area of approximately 710.5km2, and ‘Karonga’ which covers a total area of 36.2km2.
DY6 Metals (ASX:DY6) says the applications will expand its overall strategic footprint in Malawi to a total 1,080 km2.
They’re also highly complementary to the company’s existing critical metals portfolio, which includes the flagship Machinga REE project – also in Malawi – where it recently returned drill hits such as 11m at 0.74% TREO and 0.29% niobium from surface.
At Mzimba, the company’s geological team recently undertook a reconnaissance field visit over the project, identifying multiple pegmatite swarms, with pegmatites traced for up to 500m in length, with varying widths between 5m and 25m+.
However, despite the potential in-pegmatite resources, only small-scale mining activities targeting gemstones occur in the area and little modern exploration has been conducted for lithium, caesium, niobium and tantalum that could be associated with pegmatites.
“We are very excited about these four strategic lithium licence applications in northern Malawi,” DY6 CEO Lloyd Kaiser said.
“Field reconnaissance has identified several pegmatite systems, which are currently being worked by artisanal miners for a range of minerals, including the gemstones tourmaline and beryl, and lithium micas.
“While the company waits for licence granting, the focus of the exploration team will be on undertaking a detailed geological and geophysical review of these three new licence areas over the coming months.”
Field work to date has also observed pegmatites at the Karonga project.
During the field work at Mzimba, rock chip and grab geochemical sampling was completed within the excavations made by small-scale miners to classify the type of pegmatite and indicate their economic potential.
DY6 has submitted seven random reconnaissance rock chip samples for laboratory analysis in South Africa.
The company also submitted samples collected from the Karonga project area.
Assays are pending.
This article was developed in collaboration with DY6 Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.