Eye in the sky: Lanthanein sees new REE ironstones at WA Lyons play with satellite data
41 targets set for rockchip sampling; October drilling assays due mid-Nov, drilling ongoing to Q123
Source: Unsplash
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KEY POINTS
- Satellite data has given Lanthanein no less than 41 prospective ironstone targets to investigate on-site
- Rock chip sampling to commence “shortly” as Q42022 and Q12023 drill run continues to roll on
- RC drilling assay results from October due in next fortnight
Lanthanein Resources (ASX:LNR) has added 41 new ironstones for exploration assessment to its collection of targets at the company’s WA Gascoyne-based Lyons rare earth element (REE) play.
The data underpinning the 41 new targets is at this stage not yet vetted enough to reflect 41 confirmed REE-coincident ironstones, as the targets were discovered through satellite imagery and fieldworkers will need to go back on the ground to sniff out the leads.
The follow-up fieldwork campaign will see rock chip samples collected, expected to commence “shortly.”
While confirmation remains to be seen, the move does add weight to the potential commercial prospectivity of the Lyons play, where fieldwork has already found new ironstone targets through 2022.
RC drilling ongoing
The company most recently wrapped up RC drilling at Lyons in mid-to-late October and assay results from that campaign remain pending.
The company reported that it hit targeted formations at all four key prospects (called Lyons 11, 12, 13, and 27 respectively.) Those four targets were ironstones spotted in fieldwork back in July.
Assays are expected back in mid-November on a fast-track status with ALS laboratories, but significant work backlogs continue to define the pace of assay data delivery sector-wide.
Further drilling will take place across Q4 2022 and Q1 2023, with target ironstones the name of the game.
The company’s geology team is most optimistic for results, given that the target area drilled in the most recent campaign sits less than 3km away from Hastings Technology Metals’ (ASX:HAS) exploration assets, and interpreted to sit on the same geological trend.
The company also has thorium anomalies to follow up on; thorium typically coincides with rare earth elements.
Extensive sampling up next
“An extensive sampling program will commence shortly to follow up on the satellite imagery spectral targets of potential ironstones and quartz outcrops that may host rare earth mineralisation,” Lanthanein’s technical chief Brian Thomas said.
“The Lyons rare earths project is continuing to deliver exciting results with the addition of 41 initial targets, further highlighting the prospectivity of the Gifford Creek Carbonatite Complex.”
“We are eagerly awaiting the assay results from our first drill program which intersected consistent ironstones at Lyons 11, 12, 13 and 27 prospects. The visual logs of RC chips confirm the ironstones are continuous along strike and at depth, providing a solid base for future drill programs to build out any potential REE resources.”
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Lanthanein was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.
