Lanthanein wraps up RC drill run at WA Lyons rare earths play, early-stage results promising

Thu 20 Oct 22, 12:15pm (AEST)
A road stretching to the horizon in the Australian outback beneath a blue sky
Source: Unsplash

Key Points

  • Lanthanein has wrapped up the RC drill run it launched in August at Lyons REE project
  • Company says early-stage visual results from collected materials are promising, but assays pending
  • Prospective target geology believed to host rare earths intersected at four key targets

Lanthanein Resources (ASX:LNR) has wrapped up the rare earth element (REE) RC drill run it launched at its WA Lyons project in late August, with the company citing promising early-stage visual results. 

While those visual results do not reflect concentration of REE minerals, and assays remain pending, the company does report it hit target geological formations at all four key prospects: Lyons 11, 12, 13, and, 27. 

Lyons 27, notably, has boosted the company’s confidence that mineralisation extends further northwest on-site than previously recognised, however, assays will need to confirm this. 

Those target formations are ironstones believed to bear REE mineralisation, adding to the proven integrity of the company’s exploration strategy. Ironstones were spotted as outcrops in fieldwork, and are backed up by magnetic imagery data collected in July

Fast-track assays 

The company today notes it has sent samples off to ALS Laboratory in Perth on a ‘rush’ status, via which the company expects to see results returned in mid-November. 

Ongoing backlogs at assay laboratories around the country have led to long delays across the materials sector broadly, though, some companies are slowly starting to turnover results with more haste. 

The company’s geology team are 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. 

Extreme excitement: management 

“The visual logs of RC chips confirm the ironstones are continuous along strike and at depth, providing a solid base for our future drill programs to build out any potential REE resources,” Lanthanein technical director Brian Thomas said. 

“Samples have been sent to ALS in Perth for rush analysis with first results expected in the next 3-4 weeks.” 

“The team is extremely excited by the visual results [while drilling] recorded up to 6m thick ironstones and remain open down dip and along strike. The encouraging results from Lyons 27 opens up the northwest area of the tenement to be highly prospective.” 

More drilling coming up 

The company notes it still has a pipeline of drilling to complete in Q4 of CY2022, and into early 2023. 

A number of interpreted ironstone targets and carbonatite targets “under thin cover” remain to be drill tested. 

Earlier this week, Lanthanein revealed it was the successful recipient of a grant from the WA government to help fund drilling to the tune of $0.2m.

The state of Lanthanein's three month charts


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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