The Conversation (0)
Heavy rare earths and niobium explorer DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to advise that the maiden drill program at the Company’s flagship, Machinga heavy rare earths (HREE) and niobium project (Nb) in southern Malawi has been successfully completed.
- Successful completion of maiden drilling program at the Machinga HREE & Niobium Project in southern Malawi
- A total of 4,543m completed, consisting of 35 reverse circulation (RC) holes for 3,643m and 8 diamond drill (DD) holes for 900m
- Potential widespread REE mineralisation from visual inspection across majority of diamond drill core1
- Potential for a large mineralised system of REE over numerous zones
- Assaying of the first and second batch of RC drill chips is underway at Intertek Perth with results to be progressively released over the coming weeks
- Full assay results received from soil and rock chip sampling programs at Machinga North:
- 256 soil samples were taken on a 200m x 50m grid
- Assays returned up to 3520ppm (0.35%) TREO, 3730ppm (0.37%) Nb and 1.84% Zr
- 35% of all soil samples returned >1000ppm (>0.1%) TREO
- 49 rock chip samples were taken from historic trenching
- Assays returned up to 28,299 ppm (2.83%) TREO, 0.77% Nb and 6.59% Zr
- 256 soil samples were taken on a 200m x 50m grid
Maiden Drill Program Completed
A total of 4,543 metres has been drilled at the Machinga North prospect, consisting of 35 RC holes for 3,643m and 8 DD holes for 900m (Figure 1). Three of the DD holes were drilled to provide adequate sample material for subsequent mineralogy and metallurgical test work to be carried out in the last quarter of 2023. Delineation of ore- types such as those dominated by eudialyte will assist early metallurgical testing and commencement of mineralogical work to identify the REE-controlling phases and their distribution.
Figure 1. Diamond Drilling at Machinga North Prospect (MDD 005)
The initial drilling program has rapidly advanced geological knowledge of the Machinga alkaline complex. The drill core shows hydrothermal breccias, granite gneiss and migmatite with radiometric responses showing strong correlation with the hydrothermal breccias. REE mineralisation was visually identified in the majority of drill core at the Machinga North prospect and indicates the potential for a large mineralised system over numerous zones.
Preliminary interpretation of the drill core aligns with previously reported geological evaluation of the mineralisation, which is tentatively identified as Eudialyte, an important zirconosilicate and REE bearing mineral (REE, Nd, Ta, and Zr) that is enriched in HREEs, Dy and Tb (Figures 2, 3 & 4). Eudialyte was identified and confirmed by petrology by the previous project owners (refer Globe Metals and Mining ASX:GBE, 29/7/2010).
Note however that the presence of eudialyte does not necessarily equate to REE mineralisation until confirmed by chemical analysis. Furthermore, it is not possible to visually estimate the percentage of REE mineralisation, and this will be determined by laboratory results reported in full once received.
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.
DY6:AU
Reconnaissance Sampling Program Commences at Ngala Hill PGE Project to Follow up Historical Targets
HIGHLIGHTS
- Targeted reconnaissance sampling program commences at DY6’s highly prospective PGE, Cu & Ni project at Ngalla Hill, Southern Malawi
- At Ngala Hill, 3 key target zones of palladium rich Pd+Pt+Au+Cu mineralisation have been identified from historical trenching and limited drill testing
- DY6 will undertake a rock chip and soil sampling program to follow up on known high grade areas as well as aiming to expand the zone of mineralisation
- No significant modern exploration including electromagnetics (EM) to target massive sulphides has been undertaken at Ngala Hill
- Trenching by Placer Dome in 2000 included results of:
- 12m at 3g/t PGE+Au; and
- 70m at 1.12g/t PGE+Au, including 8m at 3.3g/t PGE+Au
- The main mineralised zone has only had limited modern drilling
The Company’s CEO, Mr Lloyd Kaiser said:“Our team in Malawi has actively built strong relationships with local communities across our projects and this early engagement at Ngala Hill is setting the foundation between the Company and the community as we prepare to mobilise the geo team and embark on our first exploration campaign at Ngala.”
Figure 1: Location of the Ngala Hill PGE Project in southern Malawi
Background on the Project
The Ngala Hill ultramafic chonolith is an arcuate-shaped intrusion, with dimensions of approximately 2.4km by 0.7km and was intruded into the underlying Proterozoic Basement Complex gneisses. The Ngala Hill Project is characterised by an intrusive ultramafic suite of pyroxenites and hornblende- pyroxenites that intrude basement gneisses. The pyroxenite facies of the ultramafic complex is prospective for platinum group elements (PGEs), predominantly palladium, and associated copper.
Initial work at Ngala Hill in the late 1960s included geochemical sampling programs undertaken by the British and Malawian Geological Surveys. Phelps Dodge started an exploration program for PGEs on Ngala Hill in 1999 with approximately 600 m of trenching. Metapyroxenite and amphibolite with an PGE- gold-copper nickel association was intersected trenching and yielded 1.41g/t Pt+Pd+Au and 1,430 ppm Cu over a length of 64m.
In 2000, Placer Dome confirmed further anomalies with encouraging results received from several trenches including 12m at 3g/t PGE+Au and 70 m at 1.12g/t PGE+Au, including 8m at 3.3g/t PGE+Au.
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.
Heavy Rare Earths & Niobium Explorer DY6 Metals Lists On ASX Following Successful $7M IPO
- $7 million successfully raised via IPO, including $2.5 million from Hong Kong- based cornerstone investors, Zhenshi Group and Zhung Nam New Material Company
- Funds to be used for exploration on three 100%-owned rare earths and critical metals projects in southern Malawi
- Malawi is an attractive and stable mining jurisdiction with proven potential for hosting major rare earth deposits including Lindian Resources’ world class Kangankunde discovery (40km east of the Company’s Machinga Project)
- RC drilling is already underway at the flagship Machinga project, with diamond drilling scheduled to commence next month
- Drilling aims to follow up high grade 2010 results by Globe Metals and Mining (ASX:GBE)§Machinga is enriched in heavy rare earths (Dysprosium and Terbium) and Niobium
DY6’s listing follows a successful initial public offering (IPO), which raised $7 million. As part of this, the Company attracted a combined $2.5 million from Hong Kong-based strategic investors, Zhensi Group (HK) Heshi Composite Materials Co., Limited and Zhung Nam New Material Company Limited.
The funds raised in the IPO will be used primarily for exploration at the Company’s three 100%-owned rare earths and critical metals projects located in southern Malawi, a stable and attractive African jurisdiction with proven potential for hosting major mineral deposits.
DY6 has recently commenced a 5,000m program of reverse circulation and diamond drilling at the flagship Machinga project, 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 with high-value heavy rare earth elements dysprosium and terbium. The project also holds significant niobium and tantalum potential as well.
Non-executive Chairman Dan Smith said: “DY6 has recently started its maiden drill program at the exciting Machinga project. In addition to being a potential source of the critical heavy rare earth elements Dysprosium and Terbium, Machinga also contains significant Niobium mineralisation.
The Company is seeking to emulate the success of Lindian Resources in proving up a major critical minerals project in southern Malawi. We believe the projects and the team we have assembled provide us with an excellent opportunity.”
Image 1: RC Drilling underway at Machinga HREO + Nb Project
Six targets have been identified to date within the Machinga North concession and the Company will be following up on previous high grade intercepts from a previous 2010 campaign undertaken by Globe Metals and Mining (ASX:GBE).
DY6’s other projects in southern Malawi, Salambidwe and Ngala Hill, have also been subject to previous exploration: rock chips from Salambidwe returned high grade values of TREO and Nb while soil samples from Ngala Hill and limited previous drilling by Phelps Dodge returned high grade results of Pd, Pt, Au and Cu.
The Company plans to carry out detailed geophysical and geological sampling programs at Salambidwe to aid in defining targets for a maiden drilling campaign towards the end of the year. RC drilling at Ngala Hill is scheduled for around the same time.
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.