Diamond Drilling Underway At Machinga HREE + Nb Project

Heavy rare earths and niobium explorer DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to provide an update on exploration activities at the Company’s flagship, Machinga heavy rare earths (HREE) and niobium project (Nb), Malawi.

• Diamond drilling has commenced at Machinga, with 6 holes planned
  
• Diamond drilling will provide a better understanding of the geological controls of the mineralisation at Machinga, as well as provide material for initial metallurgical test work
  
• RC Drilling is continuing, with 11 holes for 1,400 metres drilled so far as part of the ~5,000m combined RC and DD program
  
• The first batch of RC samples are being cleared for despatch to Intertek’s laboratory in Zambia, prior to transit to Perth for analysis
• First assay results from the ongoing drilling are expected in late Q3, 2023

The Machinga project is only 40km east of Lindian Resources’ Kangankunde carbonatite discovery, which is widely regarded as the world’s best undeveloped rare earths project. Machinga is particularly enriched in the high-value heavy rare earth elements dysprosium and terbium, which are gaining increasing importance for use in electric vehicles, wind turbines and high-tech military applications. The project also holds significant niobium and tantalum potential as well, which are vital to alloys and electronics.

Drilling at the Machinga North target – one of six targets identified to date within the Machinga concession – in 2010/12 returned intercepts of 11m @ 1.0% TREO with 330ppm dysprosium oxide (Dy2O3) from 12m (MARC005), 5m @ 1.5% TREO with 596ppm Dy2O3 from 26m (MARC015) and 3m @ 2.2% TREO with 295ppm dysprosium oxide (Dy2O3) from 66m (MARC033) including 1m @ 5.1% TREO with 584ppm dysprosium oxide (Dy2O3) from 67m.

The Company also plans to carry out detailed geophysical and geological sampling programs at the Salambidwe REE project to aid in defining targets for a maiden drilling campaign towards the end of the year. RC drilling at the Ngala Hill PGE Project is scheduled for around the same time.

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