‘Exceeded expectations’: Lanthanein just getting started at the Lyon NdPr-niobium project
Drilling at Lanthanein Resources’ (ASX:LNR) Lyons rare earths-niobium project hits shallow economic mineralisation over 1km with an “exceptionally high NdPr component — more than 3 times the world average”.
Last year, Lanthenein Resources (ASX:LNR) secured a couple of WA rare earths and high purity alumina projects including Lyons, which adjoins the Hastings Technology Metals (ASX:HAS) world-class ‘Yangibana’ deposit.
Assay results from a recently completed maiden drilling program at Lyons have now “exceeded expectations”, the company says, with economic REE mineralisation from outcrop extending over 1km strike.
High grade REE mineralisation remains ‘open’ at depth and along strike, which means LNR haven’t found the edges yet.
And the widths of main ironstone REE mineralisation intersected are between 1 and 5m thick, analogous to Hastings Technology Metals main REE deposits ~2.5km away.
Standout intercepts include:
Assay results will continue to be received over December and January with ~70% of results received at present.
Extremely high Neodymium and Praseodymium (NdPr) grades make up to 55% of Total Rare Earth Oxides (TREO) at Lyon, more than 3 times the world average, LNR says.
NdPr is predominantly used in neodymium magnets for high-tech, high growth applications, like wind turbines and electric vehicles.
“We are extremely pleased with the exceptionally high NdPr component, more than 3 times the world average, giving these ironstones of significant economic value,” LNR technical director Brian Thomas says.
NR also reported significant niobium intersections on the margins of Lyons Magnetic Intrusive Complex, related to carbonatites under cover. These will be drill tested in Q1, 2023.
Popularised by WA1 Resources’ recent discovery, niobium is mainly used to make steel better, but also has growing uses in lithium-ion batteries, intelligent glass, solar panels, 5G tech, and nuclear energy.
Ferroniobium metal (65% Nb) currently sells for ~US$45,000/t.
Significant drill programs are planned for 2023 to step out and infill known REE mineralisation for resource estimation in H2, 2023.
Potential also remains for further discoveries within the company’s tenure where no historical REE exploration has occurred.
Geophysical review of magnetic and radiometric surveys flown by LNR has highlighted multiple areas of interest under shallow cover, yet to be tested.
The highest priority targets are those which show a similarity to Dreadnought Resources’ nearby Yin and Sabre discoveries.
“In under a year since acquiring the Lyons project we have discovered multiple outcropping ironstones and completed the first ever drill program on the tenement, confirming that outcropping ironstones are mineralised with REE at multiple prospects and remain open at depth and along strike,” Thomas says.
“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.
“This is an exciting pipeline of drill targets for 2023 and we look forward to continuing to prove up the Gascoyne region’s significance as a major Australian REE producing region alongside Dreadnought and Hastings Technology Metals.”
This article was developed in collaboration with Lanthanein Resources (ASX:LNR), 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.