Chilwa Minerals Delivers High-Grade Mineral Sands in Malawi

Chilwa Minerals Ltd (ASX:CHW) has intersected high-grade mineral sands hits of upto 45%  total heavy mineral (THM) at the Mposa Deposit, part of the Chilwa Critical Minerals Project in Malawi.

The company’s ongoing sonic drill program has delivered some encouraging results, which include:

  • 3 metres at 26.3% THM from surface, including, 1 metre at 45.0% THM from surface;
  • 10 metres at 12.8% THM from surface, including,3 metres at 36.6% THM from surface; and
  • 5 metres at 25.8% THM from surface, including, 4 metres at 31.3% THM from surface.

Notably, the drill program is primarily aimed at increasing the confidence level from the current inferred category.

What’s more, Chilwa expects further assays to be delivered sporadically over the coming months at the project.

At the indices, the company’s shares have been trading higher the past month, up 24.58% to A$0.73 with a market cap of A$48.04 million.

Chilwa share price chart

Drill program

To date, Chilwa has completed 3,560 metres of the planned 17,000 sonic program.

Interestingly, the sonic drilling has returned sample recoveries of 95%, as compared to prior drilling which averaged greater than 70%.

Notably, the mineral sands horizon intersected are between 6 metres and 13 metres in thickness.

This includes an average sand thickness of 5.75 metres being encountered in the holes drilled to date.

“The drill program has given us better results than we hoped for, with high levels of HMS in thicker and richer layers,” said MD Cadell Buss

Forward plan

The first batch of samples covered the first 50 holes drilled at Mposa.

Meanwhile, a second batch of samples is currently awaiting assay at the laboratory in Perth, with results expected in the next few weeks.

A third batch of samples is undergoing sample preparation in South Africa, ahead of transport to Australia.

In addition, the company is also analysing REE potential at the deposit with the assay results expected in the next few weeks.

To enable this, company has also recently completed an aeromagnetic and radiometric survey over the entire project to  better understand the subsurface geology, particularly as it relates to rare earth mineralisation.

 

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