Chilwa Minerals (ASX:CHW) announces identification of 47 carbonatite targets

Chilwa Minerals Limited (ASX:CHW) has announced the identification of 47 carbonatite targets at the Lake Chilwa Project in southeast Malawi. The high resolution aeromagnetics and radiometrics flown over the entire project area have revealed the rare earth elements (REE) and niobium potential of the project. The geophysical interpretation of the data has identified 46 targets that may represent carbonatites or alkaline intrusives, along with one dyke, covering an area of approximately 31 km² in total.

Chilwa Minerals Managing Director comments on the significance of the discovery

Chilwa's Managing Director, Cadell Buss, expressed confidence in commencing a parallel exploration stream focused on the rare earth and niobium potential at the Chilwa Project. The region has been identified as fertile for rare earth mineralisation, and with approximately 600 carbonatites discovered globally, the prospectivity of the Chilwa Project has significantly increased and diversified into a multi-commodity asset. Buss expects a positive news flow generated by the Project to increase over the next 6-12 months.

Summary of Chilwa Minerals' announcement and outlook

Chilwa Minerals has identified 47 carbonatite targets at the Lake Chilwa Project, indicating significant potential for rare earth elements and niobium mineralisation. The company's primary focus on mineral sand resources has expanded to include the REE and niobium prospectivity within the project. The next phase of the REE program involves validating the various anomalies through mapping and geochemical sampling, scheduled for the next 4-6 weeks. With the prospectivity of the Chilwa Project significantly increased, the company anticipates a positive news flow over the next 6-12 months, reflecting its diversified multi-commodity asset.