Infill drilling highlights include 8 metres at 7.66% rare earths oxide (REO) including 1.39% NdPr from surface and 12 metres at 5.12% REO including 0.91% NdPr from 6 metres.
Notably, exploration drilling along the southern margin of the carbonatite intersected a deep zone of weathered mineralisation.
Exploration drilling highlights included 22 metres at 4.26% REO including 0.86% NdPr from 48 metres and 10 metres at 4.07% REO including 0.73% NdPr from 16 metres.
Pensana’s executive director Dave Hammond said: “These high grade NdPr intersections confirm the continuous nature of the near surface blanket of weathered zone NdPr mineralisation in the area targeted for initial open pit mining in the preliminary feasibility study.
“The results from the exploration holes are significant as they add further proof of the existence of arcuate mineralised ring dyke structures around the margins of the circular carbonatite.
Several kilometres of this prospective contact zone have yet to be drill tested and offer further upside potential to the weathered zone mineralisation at Longonjo.”
Earlier this month, Pensana completed a share placement raising $5 million through the issue of 250 million shares priced at 2 cents.
The funds will be used to advance the pre-feasibility study (PFS) underway evaluating the development of Longonjo.
Longonjo is globally substantial neodymium-praseodymium (NdPr) deposit with an inferred mineral resource of 240 million tonnes at 1.60% rare earth oxides (REO).
Today’s infill drilling results will support a revised JORC resource estimate for the high-grade weathered zone at Longonjo.