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Chilwa Minerals Ltd ( (AU:CHW) ) just unveiled an update.
Chilwa Minerals has confirmed a significant niobium discovery at its Mpyupyu target in the Lake Chilwa basin, with diamond drill hole MPYDD006 intersecting a niobium-enriched alkaline quartz-syenite intrusive body over 120m downhole. The mineralisation is accompanied by tantalum, gallium and elevated TREO levels, reinforcing the potential of the basin as a globally significant multi-commodity critical minerals system.
The company will fund additional step-out drilling around Mpyupyu to test the lateral and vertical extent of the niobium mineralisation and move toward defining a niobium resource. It is also revising its assay methodology to sodium peroxide fusion to better capture niobium content, while awaiting further assay results from nearby holes that could expand the known footprint of the discovery.
More about Chilwa Minerals Ltd
Chilwa Minerals Ltd is an ASX-listed exploration company focused on critical minerals within the Lake Chilwa basin in Malawi. Its portfolio includes defined heavy mineral sands resources and targets for rare earth elements, including TREO and ionic clay REEs, positioning the company in the broader critical minerals and rare earths supply chain.
Average Trading Volume: 29,991
Technical Sentiment Signal: Buy
Current Market Cap: A$92.05M
Learn more about CHW stock on TipRanks’ Stock Analysis page.