Australia’s Pensana Metals Ltd (ASX: PM8) has been granted a new exploration licence prospective for NdPr rare earth mineralisation adjacent to its Longonjo Project in Angola.
The 7,456 square kilometre Coola Project lies 16 km from Longonjo and contains two known carbonatites with reported NdPr rare earth mineralisation.
In addition, the project hosts five additional alkaline intrusive complexes and five strong geophysical anomalies which collectively represent an immediate and wide range of very well defined ‘walk – up’ exploration targets prospective for NdPr and other rare earths.
The two carbonatite complexes, Coola and Monte Verde, are confirmed as mineralised through academic work identifying NdPr rare earth mineralisation in rock samples.
Chief Operating Officer, Dave Hammond,said “the Coola and Monte Verde complexes have never been commercially evaluated and a significant portion of each lie beneath shallow soil cover.”
Five additional alkaline intrusive complexes, with geological systems prospective for heavy and other rare earths have been identified within the licence area.
A further five strong geophysical anomalies have been identified that could reflect additional carbonatite or alkaline complexes. The large project area is easily accessible and is well located close to established road and rail infrastructure.
Mr Hammond added that low cost hydro power is available at Caala, located 40 km to the west, while the provincial capital of Huambo lies about 60 km to the west.
Our main focus is on completing the current programme at Longonjo and reporting an upgraded Mineral Resource estimate for the DFS, which is expected to significantly extend the mine life of the project,” Mr Hammond said.
“Having received the Mining Licence for Longonjo our plan is to capture and test the high potential brownfield opportunities within trucking distance of the proposed treatment plant which have the potential to increase overall production.
“The Coola and Monte Verde carbonatite complexes are of similar size to Longonjo and have been identified as being rich in NdPr mineralisation.
“We are very much looking forward to getting on the ground with the first round of exploration on these exciting new targets.”