Chilwa Minerals (ASX:CHW) has discovered 47 carbonatite targets at its Lake Chilwa Project in southeast Malawi.
The identification follows comprehensive aeromagnetic and radiometric surveys that indicated the rare earth elements and niobium potential of the project.
The aeromagnetic and radiometric data interpretation showcased 46 targets, which might represent carbonatites or alkaline intrusives, and one dyke encompassing an area of approximately 31km2.
The known carbonatite at Chilwa Island serves as a key indicator of the region's potential.
"The early (untargeted) drill results and the new geophysical interpretation give us significant confidence to commence a parallel exploration stream focused on the rare earth and niobium potential at the Chilwa Project," commented Cadell Buss, Managing Director of Chilwa Minerals.
Chilwa Minerals has engaged Geo Focus for the survey interpretation.
The identified targets predominantly lie in the southern half of the project area, which requires ground truthing.
The step is expected to further confirm the prospectivity of the region.
Buss further mentioned, "Approximately 600 carbonatites have been discovered globally, and given the number of targets identified, the prospectivity of our Chilwa Project has significantly increased and diversified into a multi-commodity asset."
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 (ilmenite and zircon) as well as garnet (silicate mineral group).
At the time of reporting, Chilwa Minerals' share price was $0.94.