- DY6 Metals sampling returns up to 3.22% TREO and 0.75% niobium in Machinga extension licence
- Licence EL0705 granted in November last year had increased project area up to 197km2
- Further field work under consideration in southern parts of new licence to define targets for future drilling
Special Report: DY6 Metals has received early indications that a recently acquired addition to its flagship Machinga project in Malawi also hosts significant quantities of rare earths after sampling returned results of up to 3.22% TREO.
Notably, the soil and rock chip sampling program identified two anomalies west of the main road of the new licence that show a much more continuous character of higher total rare earth oxide (TREO) results, which highlights the potential scale of rare earth mineralisation in this area.
DY6 Metals (ASX:DY6) acquired the EL0705 licence in November last year, securing its grip over the prospective REE ground around Machinga and taking the total project area up to 197km2.
Drilling over the original project area also delivered strong results topping up at 15.1m grading 1.01% TREO with substantial niobium, which is valuable in its own right.
New area looking prospective for REE
Sampling of EL0705 has indicated that REE and niobium are present within the licence.
The company took 305 soil samples over a 200x100m space with 21% of the samples returning +1,000ppm (0.1%) TREO while rock chip sampling over a 50x50m grid returned grades of up to 3.22% TREO and 0.75% niobium.
DY6 adds that the heavy REO and neodymium/praseodymium signature in the extension licence is distinct from that seen in the main Machinga drilling area.
Areas of the most elevated concentrations of TREO also correspond to the highest niobium values.
The company also noted that while previous drilling had focused on the northeast region of the Machinga Main Northern anomaly near the licence border, the rock chip results indicate significant potential exists for further drilling west and to the south.
Further field work is under consideration in the remaining southern part of the new licence area to define targets for future drilling.
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.