Attention is on Lanthanein’s maiden REE resource at the Lyons project. Pic: via Getty Images.
Mining
Lanthanein has defined a maiden resource of 0.99Mt at 0.32% TREO for the Lyons 11, 12 and 13 prospects within its Lyons rare earths project.
Lyons is adjacent to Hastings Technology Metals’ (ASX:HAS) advanced Yangibana deposit in WA’s Gascoyne region, which is advancing towards construction to meet strong demand from the emergent EV sector.
At Lyons, rare earths (REEs) are found in the same Gifford Creek ferrocarbonatites that are the source of mineralisation at both Yangibana and Dreadnought Resources’s (ASX:DRE) Yin project.
Lanthanein Resources’ (ASX:LNR) infill and exploration drilling at Lyons intersected REEs in two new previously unsampled ironstone dykes over 2km and 3km strike while extending a known mineralised dyke over 1km strike.
Best intersections include 1m at 1.12% total rare earth oxides (TREO) including 0.17% niobium from 29m and 11m at 0.38% TREO from 41m.
Notably, the company said the drill results confirming the “funnel shaped” nature of carbonatites.
The successful drilling has allowed the company to define an inferred resource of 0.99Mt at 0.32% TREO that includes a combined grade of 0.13% of the valuable magnet REEs neodymium and praseodymium.
Lanthanein noted that at this early stage of exploration, it assumed that the mining and metallurgical factors from Yangibana represent an appropriate starting point for Lyons as both deposits are hosted in the same Yangibana Ironstones.
Upgrading the resource to the higher confidence indicated or measured categories as well as carrying out any mining/economic studies will require more work to confirm that these assumptions are applicable.
The resource model also assumes open cut mining is completed and a moderate level of mining selectivity is achieved in mining.
Selectivity is deemed practical due to the difference in hardness and colour between the ironstones and the country rock, allowing grade control to be applied to the ore/waste delineation processes to ensure adequate coverage of the mineralisation zones.
While encouraging, there is plenty of potential for further growth as numerous additional outcropping ironstone targets have been delineated from satellite imagery in addition to undercover geophysical targets that are still to be drill tested.
This article was developed in collaboration with Lanthanein Resources, 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.
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