Pensana’s Coola carbonatite magnetic survey identifies compelling targets for follow-up

Pensana Plc
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Pensana plc (lLON:PRE) has reported the interpretation of the geophysical surveys conducted late in 2023 over the Coola carbonatite and the Sulima West laterite located 75 kilometres north of the Longonjo project and of the commencement of a bulk metallurgical test work programme designed to test for the amenability of this mineralisation to be processed at Longonjo.

The Coola Exploration project of which the company has a 90% interest is located approximately 160 kilometres east of the Port of Lobito, originally covering an area of 7,456 square kilometres.  The Company has completed multiple field programmes in 2020,  2021 and 2022 confirming carbonatite/alkaline rare earth mineralisation on two highly prospective targets, the Coola carbonatite and Sulima West laterite.

Highlights

  • Coola confirmed as a 900 metre diameter carbonatite ring dyke with a similar scale and prospectivity to Longonjo;
  • Sulima West has reported strong anomalies of high-grade Total Rare Earth Oxide (TREO) mineralisation for drill testing;
  • A Coola carbonatite 4.7% TREO bastnaesite initial sample and a Sulima West 4.8% TREO enriched laterite initial sample have been sent for bulk metallurgical test work in South Africa; and
  • These bulk samples will be tested for low-cost beneficiation to a high-grade concentrate at site for trucking to Longonjo for processing.

A metallurgical test work programme at Blu Sky Mining laboratory in South Africa is underway to test the identified mineralisation for low-cost physical separation techniques which can be applied at site to produce a high-grade rare earth concentrate.

Successful results from these separation techniques will allow the drill programmes to target zones of mineralisation which have the potential to produce a high-grade concentrate at site. These concentrates may then be trucked to the Longonjo facility for processing.

Four bulk samples have been sent for metallurgical test work, including the Coola carbonatite initial sample reporting 4.7% TREO as mainly bastnaesite, and the Sulima West enriched laterite initial sample reporting 4.8% TREO as well as samples of fluorite and apatite.

These samples will be tested for multi-gravity, wet tables, WHIMS (wet high intensity magnetic separation), magnetic separation, and XRF/optical sorting with a view to concentrate generation ahead of processing at Longonjo, or as standalone mining opportunities in the case of the fluorite and apatite targets.

A map of a volcanoDescription automatically generated with medium confidence
A map of the oceanDescription automatically generated

Figures 1 & 2: Coola carbonatite Magnetics (TMI-RTP – left hand image) showing central diatreme unique magnetic anomaly and Coola Radiometrics (Total Count – right hand image) showing fluorite rich plug.

Pensana Exploration Manager, Grant Hayward, commented:

“The Coola carbonatite magnetic survey has identified a number of compelling targets for follow-up and has clearly identified a large, roughly 600 metre diameter circular magnetic feature, with a unique magnetic signature occupying the central caldera.

We believe this to be a highly prospective, deeply weathered, volcanic pipe, or diatreme, which appears to have a similar scale to Longonjo. We know that the central areas of carbonatites often host supergene enriched REE deposits as is the case at Longonjo and so we are looking forward to drill testing this highly prospective target.”

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