Chilwa Minerals deploys second rig to accelerate Lake Chilwa REE exploration

Chilwa Minerals (ASX:CHW) announced the mobilisation of a second diamond drilling rig to fast-track its carbonatite-hosted rare earth element exploration program across its Lake Chilwa licence package in southern Malawi.

The addition of the second rig enables concurrent testing of multiple targets, significantly enhancing the company's capacity to evaluate its 47 interpreted carbonatite and alkaline intrusive prospects.

The first diamond rig is currently drilling at the Mpyupyu target, with drill hole 7 underway and results from holes 6 and 7 expected within three to four weeks.

Meanwhile, the second rig will focus on targets in the Phalombe region, prioritising anomalies identified through geophysical surveys and soil geochemistry.

These targets were initially highlighted by a 2024 airborne radiomagnetics study and further refined through 2025 soil sampling, enabling Chilwa to rank prospects by REE potential.

Chilwa's Managing Director, Cadell Buss, stated that the additional rig "effectively doubles our exploration capacity and provides the flexibility to advance multiple high-priority targets simultaneously."

He added that ongoing work at Mpyupyu, located near the company's mineral sands deposits, has yielded promising geological indications, while the second rig will explore a substantial number of additional targets across the licence.

Chilwa Minerals is pursuing a dual strategy, advancing both its REE exploration and its heavy mineral sands projects.

At the time of reporting, Chilwa Minerals' share price was $0.80.