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Rock Chip Assays up to 6.2% Li2O from Initial Reconnaissance
DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to provide this update to shareholders on its initial lithium focused ground reconnaissance program completed late last year at its Mzimba South (Figure 1) and Afro Gifts (Karonga South) licence (Figure 2).
HIGHLIGHTS
- DY6 has undertaken the first lithium focused exploration program reported in Malawi – initial reconnaissance indicates huge potential for a major Li discovery
- Initial ground reconnaissance sampling at Mzimba South licence returned grades of 6.2% Li2O (lepidolite mica) and 0.3% Li2O (pegmatite rock assemblage), and also high in cesium and rubidium with significant potential for LCT pegmatite hosted mineralisation
- The first pass program at Mzimba South consisted of 8 samples from 5 outcrop locations, where artisanal workers have been excavating pegmatites for gemstones (tourmaline, aquamarine and beryl)
- The exposed pegmatites are heavily kaolonised, with the lepidolite and quartz zones appearing less weathered
- A recent follow-up rock chip sampling program consisting of 6 samples from 6 outcrop locations has been undertaken at Mzimba South and Central, with samples being prepared for dispatch to SGS South Africa
- The Mzimba licences cover a very large area (710.5km2) and remain significantly underexplored for LCT pegmatites
- DY6 has recently submitted environmental and social management plans (ESMPs) for Mzimba, Karonga and Tundulu, with the licences expected to be granted in the coming weeks
- Following grant, DY6 is preparing to undertake a more detailed mapping and sampling program across these new lithium projects
Figure 1. Location map of the Mzimba Lithium Projects (Central, West, and South)
Assay results were received from eight (8) samples from Mzimba and eleven (11) samples from Karonga project (Afro Gifts Licence Area) providing indications of locally fractionated pegmatite systems which have the potential to host lithium mineralisation. The Mzimba samples were collected from an artisanal mining area in the Southern licence targeting gemstones with the pegmatites identified by observing the presence of weathered quartz, large flakes of weathered biotite, muscovite and phlogopite micas and kaolinised feldspars (Figure 3).
Figure 2. Location map of Karonga Li Project, granted licence EPL0659, which adjoins the Company’s recent licence application (APL0526)
Figure 3. Core of the opened pegmatite showing Quartz crystals, books of Muscovite micas and K- feldspar with matrix of Albite feldspar
One rock chip sample composed predominantly of Mica with minor Quartz, and Feldspar returned exceptional Lithium grade (Li2O) of 6.2% and notably high in Cesium (Cs) and Rubidium (Rb), all excellent LCT mineralisation pathfinders. The samples were collected at the far NE region of the southern licence with the observance of outcropping along strike direction ranging NNE to WSW. (Figure 4). Furthermore, on a visual observation perspective, the topography and geology of the three Mzimba tenements are similar and as such the strike length of the pegmatites of the three tenements combined is significantly high.
The standout rock chip samples were:
- 0.279% Li2O, 1,018ppm Cs and 3,802ppm Rb (01A)
- 6.20% Li2O, 3,089ppm Cs and >10,000ppm Rb (01C)
The sample (01C) highlighted in (Figure 5a) has a low K:Rb (potassium to rubidium) ratio <7 indicating the prospectivity of Mzimba with numerous pegmatite zones identified to date. The analysis and anomalous Rb concentration along with mineral identification implies the presence of lepidolite mineralisation in the sample. A similar rock chip sample (MZB006) (Figure 5b) was collected from the same district in a recent field visit in February and appears composed of lithium hosted in Lepidolite mica. Pegmatites and potential lithium rich micas are evident across the Mzimba prospects with future exploration work to determine the extent of the lithium bearing pegmatites.
Our early-stage assays of 11 samples of pegmatite intrusions at Karonga South have delivered the geochemical information required to develop an understanding of the intrusive fractionation processes that have occurred in the district and identifying the location of fractionated rocks is the first important step to the discovery of pegmatitic LCT mineralisation. The initial sampling focused on a small area of the Afro Gifts licence and future exploration in the coming weeks will target a strike zone from South to North.
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.
Quarterly Activities Report for the Period Ended 30 June 2024
Heavy rare earths and critical metals explorerDY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to present its quarterly activities report for the June 2024 quarter.
Tundulu (REE)
- Historical high-grade drill intercepts reported at Tundulu including1:
- 101m @ 1.02% TREO, 3.6% P2O5 from surface (TU030)
- 109m @ 1.06% TREO, 3.7% P2O5 from 53m (TU035)
- 100m @ 1.09% TREO, 12.6% P2O5 from 30m (TU042)
- 97m @ 1.35% TREO, 14.4% P2O5 from surface (TU050)
- 91m @ 1.09% TREO, 7.6% P2O5 from 46m (TU026)
- Formal granting of licence area for the Tundulu Project awarded by the Malawian Department of Mines
- Engagement of Met Chem Consulting for initial metallurgical evaluation to review historical testwork work programs and assess the findings from the 2017 metallurgical report
- Trench sampling program (~150kg sample) at historic trench TUTR10 at Nathace Hill completed as part of initial met test work program
Machinga (HREE & Nb)
- Sampling program consisting of a total of 727 rock chips and soil samples completed into recently granted licence area at Machinga. Rock chips returning up to 3.22% TREO and up to 0.75% Nb2O5
- Two anomalies west of the main road of the newly granted licence show a much more continuous character of higher TREO results - highlighting the scale potential of REE mineralisation in this new area of the licence. Assays will assist in refining targets ahead of next phase of drilling.
Ngala Hill (PGE, Cu & Ni)
- Targeted reconnaissance sampling program at Ngala Hill PGE, Cu & Ni Project underway
- 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
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.
Reconnaissance Sampling Program Commences at Ngala Hill PGE Project to Follow up Historical Targets
DY6 Metals Ltd (ASX: DY6, “DY6” or the “Company”), a strategic metals explorer targeting Heavy Rare Earths (HREE) and Niobium (Nb) in southern Malawi, is pleased to report it is preparing for commencement of a reconnaissance program at the Company’s highly prospective PGE project at Ngala Hill in southern Malawi. The Company has commenced community engagement with local community members at the project site with the purpose to facilitate awareness of the exploration program planned by DY6.
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
Heavy rare earths and niobium explorer DY6 Metals Limited (ASX: DY6) (“DY6”, “the Company”) is pleased to announce that its shares will begin trading on the Australian Securities Exchange at 9am Perth today.
- $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.
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