DY6 Metals

Quarterly Activities Report for the Period Ended 31 December 2023

Heavy rare earths and critical metals explorer DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to present its quarterly activities report for the December 2023 quarter.


DECEMBER QUARTER HIGHLIGHTS:

  • Successful completion of the Company’s maiden reverse circulation and diamond drilling program at the Machinga Main Northern Anomaly - reporting high-grade HREE and Nb intercepts
  • Machinga Main Northern Zone is particularly enriched in valuable heavy rare earths dysprosium (Dy) and terbium (Tb)
  • Preparation of representative sample from drill core in readiness for metallurgical test work in Q1 2024
  • Additional licence granted at Machinga increasing total area size to 197km2
  • Further soil and rock chip sampling at Machinga is underway to delineate high priority drill targets for the next phase drill program
  • Completion of a comprehensive sampling and geophysics program at Salambidwe, a virgin REE project with limited previous exploration. Results are pending
  • A highly prospective REE Carbonatite complex (known as “Tundulu”) with historical high- grade drilling has been staked (awaiting grant)
  • A large prospective lithium tenure in the Karonga and Mzimba regions has been staked (awaiting grant)
  • Option entered into to acquire an 80% interest in a highly prospective lithium project in the Karonga region (the licence borders the Company’s recent exclusive prospecting license application at Karonga)
  • Total land position in Malawi increased to approximately 1,120km2

OPERATIONS

Machinga HREE & Nb Project

During the quarter the Company completed a maiden reverse circulation (“RC”) and diamond drilling (“DD”) campaign at its flagship Machinga Project (Northern Zone) in southern Malawi for a total of 4,543m. In addition, adjoining ground at Machinga which was previously under application, was granted increasing the total area at Machinga to 197km2.

Results from recent drilling to date confirm a strongly mineralised hydrothermal breccia system striking NW-SE and dipping shallowly ~35° to the NE. Pleasingly, very high-grade zones have been intersected from the diamond drill holes, as well as the suggestion of the mineralised zones thickening at depth and continuous into the new licence area NE of the recent drilling. Significant drill intercepts received from the final batch of assays are included in DY6’s ASX Announcement dated 29 December 2023. Significant intercepts include:

  • 15.1m @ 1.01% TREO, 0.36% Nb2O5 from 23.9m (3.71% DyTb/TREO) incl. 4m @ 1.75% TREO, 0.63% Nb2O5 from 33m (3.8% Dy/Tb/TREO) (MDD007);
  • 9m @ 0.70% TREO, 0.3% Nb2O5 from 3m (3.84% DyTb/TREO) incl. 2m @ 1.2% TREO, 0.58% Nb2O5 from 6m (3.64% Dy/Tb/TREO) and 5.2m @ 1.61% TREO, 0.66% Nb2O5 from 41.4m (3.99% DyTb/TREO) incl. 1m @ 2.67% TREO, 1.01% Nb2O5 from 44m (3.9% Dy/Tb/TREO) (MDD006);
  • 6.1m @ 1.09% TREO, 0.4% Nb2O5 from 22.5m (3.78% DyTb/TREO) (MDD004); and
  • 9m @ 1.11% TREO, 0.41% Nb2O5 from 41m (3.72% DyTb/TREO) incl. 3m @ 1.56% TREO, 0.49% Nb2O5 from 45m (4.1% Dy/Tb/TREO) (MDD008).

(Results returned an average of 29% HREO:TREO and 3.6% DyTb:TREO at a cutoff grade of >0.25%TREO)

Diamond drill holes MDD006, MDD007 and MDD008 were drilled downdip to obtain sufficient sample material to initiate the metallurgical test work program in Q1, 2024. The assay results are positive and significant for the Company as they continue to demonstrate continuity of mineralisation down dip and along strike of Machinga with excellent width and grade of mineralisation for a heavy rare earth rich deposit. As part of the upcoming metallurgical test work program, using core from this campaign for mineral characterisation, the Company will assess the amenability of the mineralisation to be treated through a relatively simple beneficiation process.

Figure 1. Machinga Project location in Southern Malawi (U radiometric).

The diamond drill program consisted of 5 holes to 150m and 3 holes to 50m depths to determine the structural setting and geology of the Machinga deposit and to obtain material for mineralogical investigation and commence preliminary metallurgical test work.

The first 5 holes were to understand the geological nature of the deposit, its structural configuration and obtain contextual data to the results of the RC drillholes, both recent and historical.


Click here for the full ASX Release

This article includes content from DY6 Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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