Lindian Resources reports updated mineral resource estimate for Kangankunde Rare Earths Project

Lindian Resources Limited (ASX: $LIN) has reported the updated Mineral Resource Estimate (MRE) for the Kangankunde Rare Earths Project in Malawi. The MRE now includes 61 million tonnes of Indicated Resource grading 2.43% TREO, with a higher-grade component of 25 million tonnes grading 3.26% TREO within the total indicated and inferred resource of 261 million tonnes averaging 2.14% TREO above a 0.5% TREO cut-off grade. The MRE update follows the Phase 3 infill drilling program completed in Q3 2023, which added forty-five (45) drill holes for 4,886 metres of drilling. The updated MRE has been estimated in accordance with JORC 2012 guidelines.

Executive Commentary on Updated Mineral Resource Estimate

We are pleased to deliver another key milestone central to our near-term goal of bringing the fully permitted Kangankunde project into production and establishing this world class project as a dependable long-term supplier of Rare Earths concentrate to global markets. This updated MRE reaffirms the project's status as a top tier asset that will deliver material benefits to Malawi, the local community, key stakeholders and our shareholders. Other milestones to be reported shortly will reinforce Kangankunde's strategic value. - Asimwe Kabunga, Executive Chairman

Summary of Updated Mineral Resource Estimate

The updated Mineral Resource Estimate for the Kangankunde Rare Earths Project showcases the company's commitment to advancing the project towards production. The inclusion of 61 million tonnes of Indicated Resource with a higher-grade component of 25 million tonnes further solidifies the project's strategic significance. The company's focus on delivering material benefits to Malawi, the local community, key stakeholders, and shareholders underscores its dedication to responsible and sustainable resource development. The upcoming Stage 1 Feasibility Study is expected to leverage the higher-grade component of the Indicated resource, potentially underpinning multiple years of production. This update reinforces the company's ambitions to establish Kangankunde as a reliable long-term supplier of Rare Earths concentrate to global markets.