Pensana Metals Ltd (ASX:PM8) has released assay results from a further 41 drill holes of the 7,000 metres infill and extension drilling program at the Longonjo Neodymium and praseodymium (NdPr) Project in Angola.
Executive director and chief operating officer Dave Hammond said: “These high-grade drill results are from well outside the limits of the current pit design and suggest the potential to extend the open pit and mine life at Longonjo.
“The drilling program is now complete and we look forward to reporting results from a further 138 drill holes.”
The best results are:
- 14 metres at 5.85% rare earth oxides (REO) including 1.07% NdPr from 4 metres,
- 36 metres at 6.74% REO including 1.10% NdPr from 16 metres,
- 10 metres at 4.65% REO including 0.95% NdPr from surface ,
- 13 metres at 4.36% REO including 0.93% NdPr from surface to end of hole,
- 18 metres at 4.01% REO including 0.87% NdPr from surface.
Drilling also intersected continuous zones of fresh rock hosted mineralisation above 3% REO from surface including 15 metres at 3.26% REO including 0.70% NdPr from surface to end of hole and 12 metres at 3.35% REO including 0.63% NdPr from surface to end of hole.
“Outside the mine plan”
The new results are from drill holes predominantly infilling areas of Inferred mineralisation on the margins or well outside of the current preliminary feasibility study (PFS) pit design and indicated mineral resource.
Hammond said: “Areas of deep weathering have been intersected in the north and south of the project that are also outside of the mine plan as defined by the PFS.
“Assay results are also awaited from infill drill holes in the main high-grade weathered zone, as well as from the first systematic drill testing of a zone of fresh rock hosted mineralisation that has the potential to add a further dimension to the project.”
DFS and updated mineral resource
The drilling is in support of definitive feasibility study (DFS) in progress with Wood Group as lead engineers, and is designed to increase the November 2019 PFS nine year mine life through the infill drilling of the large area of inferred category mineral resource – the majority of which was excluded from the initial mine plan.
The company expects the infill drilling will allow this area of Inferred category mineralisation to be upgraded to the indicated category of mineral resource, allowing its inclusion into the mine plan.
Hammond said: “We expect to be able to upgrade significant amounts of currently Inferred Mineral Resource to the higher Indicated JORC category, thereby extending the current mine life at Longonjo after the completion of additional Definitive Feasibility Study work program.”
The indicated category weathered zone mineral resource has also been infilled to support an upgrade to the measured category and, after the completion of further DFS engineering studies, to support probable or proved ore reserves.
An updated mineral resource estimate for Longonjo that will incorporate the new drilling is on schedule for completion in May 2020.