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Pensana Metals Ltd.
Summary
| Project: | Longonjo | |
|---|---|---|
| Deposit: | Longonjo | |
| Location: | Angola | |
| Commodities: | Rare Earth | |
| Date: | 10/31/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-10-2018: Pensana Metals Ltd. announces an Exploration/Drilling Update report for its Longonjo deposit at the Longonjo project. Drilling results incl. 30m @ 7.72% REO from 0m. Pensana Metals Ltd (“Pensana” or “Company”) (ASX: PM8) is pleased to report t | |
| Resources: | (Resource, Inf.): 44.7Mt @ 2.50% TREO for 1,120t TREO contained at project (1.0% TREO cut-off) | |
| CP/QP: | [Overall Report]: David Hammond (Internal) | |
| ABSTRACT: | Pensana Metals Ltd (“Pensana” or “Company”) (ASX: PM8) is pleased to report the first assay results from its exploration programme at the Longonjo NdPr Project in Angola. The first fourteen holes have all intersected mineralisation with the majority of them reporting mineralisation starting from the surface and extending up to fifty metres in depth. Several new zones of deep weathering, up to fifty metres in thickness, have been intersected across the highly weathered carbonatite compared to the average twenty metres of thickness in the area of the Mineral Resource estimate. The east west extent of the horizontal blanket of weathered mineralisation has increased from 450 to over 1,400 metres and remains open in all directions. The reverse circulation drill programme which is covering an area approximately ten times that of the maiden Mineral Resource estimate is progressing well with seventy five holes completed. The programme is expected to be completed towards the end of this month with results flowing through over the next few weeks. Chairman Paul Atherley commented: “These are very encouraging first results as they confirm that the blanket of highly weathered mineralisation extends well beyond the known resource, is thicker in places and has some very good grades. We look forward to a regular flow of drill results over the coming weeks as we build up a better understanding of the scale and grade of this very promising deposit.” | |
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