Rare Earths

The Milenje Hills are located 2km north of the Kayelekera open pit and was first identified through ground surveys and mapping in 2014 while Paladin was exploring for uranium adjacent to the Kayelekera uranium resource.

Late in 2020, the Company completed its own initial work program at Milenje Hills to better define the nature and extent of the mineralisation which had not been fully outlined due to lack of surface exposure of the mineral bearing rocks.

This initial work included trenching (17 total) and identified areas of interest to be the allanite bearing host rocks within two main lithology types; pegmatites and microgranites. Seventy samples were collected, of which 22 were mineralised. Assay results showed that both lithology types had attractive rare earth grades (average TREO 8% and average CREO 1.6% in the mineralised samples) with elevated TiO2 levels (3.4% vs. 2.1%) (ASX announcement 1 February 2021).

2021 Work Program

The current activities include:

  • 1,500 metres of RC drilling to follow up on selected anomalies / mineralised zones identified from the trenching, mapping and geophysics
  • Extension of the geophysical dataset to include additional survey lines over the large anomaly identified in initial work
  • Mapping in the broader area to define new mineralised zones
  • Additional trenching with an excavator in new zones as well as deepening some of the previous trenches and extending others where good mineralisation was observed

Following the drill results, the Company will determine the optimal path forward to crystalise the value of the rare earth opportunity at Kayelekera for shareholders.

Under the JORC Code 2012. It is possible that following evaluation and/or further exploration work that the currently reported historical estimates may materially change and hence will need to be reported afresh under and in accordance with the JORC Code 2012.