Chilwa Minerals (ASX:CHW) announced initial results from the geochemical testing of anomalies at its Chilwa Critical Minerals Project.
The project, launched in November 2024, focused on 11 priority targets identified through aeromagnetic and radiometric surveys.
One hundred and one surface soil samples were collected and analysed, highlighting the presence of niobium and rare earth elements across all tested targets.
The findings indicate anomalies ranging from 10 to over 500 times the background levels, suggesting potential mineral system elements within the company's tenements.
Chilwa Minerals' Managing Director, Cadell Buss, stated, “This initial batch of REE soil results indicates that the region is fertile for REE mineralisation and supports the results received from the early drilling at Mposa."
He further noted confidence in the project's potential given these results. The company plans to expedite the evaluation of the remaining 36 priority targets.
Further exploration, including ongoing rock chip and soil sampling, will focus on these REE-enriched, alkaline-intrusion areas.
The dual approach at Chilwa involves dedicated teams targeting both mineral sands and rare earth elements, aiming to efficiently explore and develop both facets of the project.
Chilwa Minerals is engaged in mining exploration. It 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.
At the time of reporting, Chilwa Minerals' share price was $0.84.