Lanthanein Resources pushes on with maiden REE drill run at WA Gascoyne Lyons Prospect

Lanthanein Resources (ASX:LNR) has recommenced drilling for REEs at its Gascoyne Lyons rare earths project following a brief delay. 

The company’s shares jumped 9.8% in mid afternoon trade back in late August when the exploration campaign kicked off. 

Access tracks had been developed pending arrival of the rig, following the conclusion of heritage surveys. In June, delays to that process stalled the company’s operations, though not in any significant way. 

An additional program of works has been lodged with the WA regulator (DMIRS) to approve extensions to the maiden drill run, but whether they are approved remains to be seen. 

Considerable potential for more discoveries

“The Gascoyne is an enviable region with an existing endowment of rare earth minerals,” Lanthanein Resources technical head Brian Thomas said back in late August. 

“Due to the unexplored nature [of Lyons] there remains considerably more potential for ironstone rare earth bearing discoveries.” 

“The geological team is buoyed by the recent success of Dreadnought’s major discovery at Yin [nearby] which demonstrates the potential that remains in the Gifford Creek Ferrocarbonatite Complex.” 

Both projects are located within a 50km radius of Lanthanein’s acreage. 

The project reflects geological attributes similar to Hastings Technology Metals’ (ASX:HAS) rare earth project, and that of Dreadnought Resources’ (ASX:DRE).

High quality modelling already in place

In June, an airborne survey allowed the company to interpret three large tubular targets underground on-site. 

The company also has high quality talent in its geotech team. 

Independent consultant Franco Pirajno managed all modelling activities based on the data. 

Pirajno is to stay on board for the company’s upcoming maiden drilling program to further interpret results collected. 

Lanthanein is confident in Franco’s previous experience within the area. The same individual has worked on the Mt Weld and Gifford Creek REE Carbonatites, with similar geological traits to new targets identified by the company. 

Good news if Neodymiun-Praseodymium found

Worth noting is that of the total rare earth element (REE) mineralisation found, up to 31% of total mineralisation is high-value Neodymiun-Praseodymium (NdPr) magnetic material. 

NdPr prices have been rising for a decade and continued to remain robust through the first two years of covid. 

The price rise is due to the metals' inclusion in EV batteries and, what may be lesser known on household investing radars, wind turbines.

Over 600kg of rare earth elements are needed for each wind turbine brought online. 

Lanthanein's one year charts

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