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Pensana Rare Earths initiates field work at Coola project in Angolo
StockMarketWire.com
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Mining company Pensana Rare Earths said initial field programmes had commenced at its Coola project in Angolo, adjacent to its advanced-stage Longonjo project there.
The programmes were testing defined targets prospective for a range of high technology critical commodities, including heavy rare earths , light rare earths, scandium, niobium, tantalum, hafnium and fluorspar.
First assay results had been received from early reconnaissance work and confirmed rare earth mineralisation in rocks and soils up to 2.99% rare earths oxides, the company said.
Chief operating officer Dave Hammond said the project contained several high quality 'walk-up' targets.
'The early reconnaissance sampling results are a great start in already confirming the Coola complex as a fertile mineralised system,' Hammond said.
'The presence of substantial outcrops of fluorspar, which may have direct economic potential, is also a positive indicator of mineralisation of other technology metals within the geological system.'
'Systematic sampling of the 6 kilometre by 2.5 kilometre complex has now been completed and samples despatched for assay.'
'Exploration programmes are currently in progress over two other prospective alkaline - carbonatite geological systems together with stream sediment sampling and geological reconnaissance of key geophysical anomalies.'
'We look forward to reporting further results from this exciting new exploration region on Longonjo's doorstep.'
At 9:42am: (LON:PRE) share price was -3.5p at 86.5p
Story provided by StockMarketWire.com
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