Business
Coola Project: Encouraging Sulima West Result...
Coola Project: Encouraging Sulima West Result....
About this update from Pensana Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n4 April 2024 THIS ANNOUNCEMENT CONTAINS INSIDER INFORMATION Pensana Plc(\"Pensana\" or the \"Company\") Coola Project: Encouraging Sulima West Results Pensana (PRE.L) is pleased to report the analytical results for the three trenches and nine pits sampled at Sulima West laterite during late 2023. The Sulima West laterite is located 75 kilometres north of the Longonjo Rare Earths Project and test work programmes are designed to test for the amenability of this mineralisation to be processed at Longonjo. The Coola Exploration Project of which the company has a 90% interest is located approximately 160 kilometres east of the Port of Lobito, originally covering an area of 7,456 square kilometres. The Company has completed multiple field programmes in 2020, 2021 and 2022 confirming carbonatite/alkaline rare earth mineralisation on two highly prospective targets, the Coola carbonatite and Sulima West laterite. Highlights· Trench and pit sampling results confirm a six hectare, enriched laterite at Sulima West grading 2 - 3% TREO.· Sampling of three additional historic trenches totalling 206 metres averaged 1.8% TREO (La2O3 + CeO2 + Nd2O5 + Pr6O11).· Higher grade zones intersected in these trenches include:▪ Trench 2: 2.3% TREO over 32 metres (0-32 m)▪ Trench 3: 2.3% TREO over 28 metres (24-52 m)▪ Trench 4: 2.2% TREO over 54 metres (0-54 m)· All the pits within the six hectare >3% soil anomaly are mineralised with an average grade of 2.1% TREO and with all pits ending in mineralization. \tNotable pit intersections include:▪ Pit 14: 3.0 % TREO over 4 metres▪ Pit 15: 2.8% TREO over 4 metres Exploration Manager, Grant Hayward, commented: \"The trench sampling confirms the current understanding of the grade and lateral extent of the Sulima West laterite and the pitting shows mineralisation to depths greater than 5 metres. All pits ended in mineralisation. Should the ...