DY5 Metals

Machinga License Area Substantially Increased

DY6 Metals Ltd (ASX: DY6, “DY6” or “Company”) is pleased to advise that the Company has received confirmation from the Malawian Department of Mines that the additional licence area for Machinga (previously under application) has now been formally granted. As a result, the combined area for the Company’s flagship heavy rare earths and niobium project has been substantially increased to a total area of 197km2.


Figure 1. Map of Machinga showing existing licence (EL0529) together with the additional area which has now been granted (EL0705)

DY6 Chief Executive Officer, Lloyd Kaiser said:

“The timely grant of the greater licence area at Machinga pending receipt of the final assays from our maiden drilling campaign at Machinga North, shows the continued support for the Company’s progress in Malawi and will allow us to focus on the numerous target areas in the wider area as part of our next drilling campaign.”

Drilling by DY6 to date has focused on the Northern anomaly zone in Machinga within the boundary tenement of EL0529 – only a small area of the total Machinga prospect which remains largely unexplored. The RC results from the maiden drilling campaign have shown a very high ratio of HREO:TREO at 28% and DyTb:TREO of 3.6% in samples greater than 0.25% TREO. Machinga North is just one of six known targets within the combined licence area.

DY6 is evaluating historical data available from Globe Metals and Mining activities in 2010 to 2013 where a comprehensive soil and rock chip sampling was completed in the southern anomaly zone. The Company expects to complete an extensive soil and rock chip sampling along the southern extension of the radiometric anomaly within the new tenement area (EL0705).

The Company is also in the process of analysing the government’s regional radiometric and magnetic data set for Southern Malawi and has engaged Southern Geoscience Consultants (SGC) to process this data over the entire Machinga prospect to better define drill targets. Subject to future Geochem results and the results of the re-processing of radiometric and magnetic data, DY6’s next follow-up drilling program will focus on expanding the size of the known mineralised area.


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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