Chilwa Minerals (ASX:CHW) has unveiled a new geophysical interpretation for its Lake Chilwa Project, identifying 52 new heavy mineral sands targets.
The substantial increase in the target area from approximately 20km2 to 40km2 could significantly enhance the resource potential of the project.
The study, which included aeromagnetic and radiometric surveys, demonstrated a strong correlation between newly identified geophysical anomalies and previously drilled mineralised zones.
Notable anomalies at Nkotamo and Bimbi could notably augment the project's mineral resources if ground truthing confirms underlying mineralisation.
"These high resolution aeromagnetic and radiometric results have far exceeded anything we could have hoped for," said Cadell Buss, Managing Director of Chilwa Minerals.
He further added, "To now discover that there are five new targets, one of which is 6.5km in length, is incredibly exciting."
Drilling efforts are currently focused on the Mposa site, with new extensional drilling planned utilising the latest geophysical data.
An updated drill plan for the assessment of HMS at Lake Chilwa is underway.
Chilwa Minerals' expanded understanding of the site's geology supports the potential for substantial additions to the HMS resource base, subject to ongoing and future drilling efforts.
Chilwa Minerals is an ASX-listed company engaged in mining exploration. The company owns 100% of the mineral sands and rare earths at the Lake Chilwa precinct. Its primary exploration targets are critical mineral deposits, specifically heavy mineral sands as well as garnet.