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Update on results from the Coola exploration pr...
Update on results from the Coola exploration pr....
About this update from Pensana Plc
[{"type":"text","content":"\n \n 4 April 2022\n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n Pensana Plc\n (\"Pensana\" or the \"Company\")\n Update on the results from the Coola exploration programme\n Pensana Plc is pleased to announce the following update on the results from the exploration programme undertaken on the Coola licence, located 16 kilometres north of the Company’s state-of-the-art Longonjo rare earth project in Angola.\n Having identified highly anomalous technology metals including rare earths, scandium and fluorite in soils surrounding the 7 500km2 Coola project in 2020, field exploration activities resumed in Q3 2021, and a range of very encouraging results has been reported from the Coola carbonatite and the recently identified Sulima West.\n Highlights\n \n Twenty-two samples from a 4.2 km diameter ring structure at Sulima West, located 50 km from the Coola carbonatite, were all mineralised and returned values of between 0.6% and 10.6% TREO, averaging 4.2% TREO (NdPr average = 0.86%). The iron content in these rocks averaged 28% Fe and the Manganese averaged 5.6% Mn.\n Sulima West has been intersected by ten large exploration trenches up to 90 metres in length, coinciding with a large radiometric anomaly. The trenches are understood to have been excavated during 1960-61 but have not been followed up with modern exploration methods.\n Rock chip sampling of the 0.9 km diameter Coola carbonatite ring dyke returned values of between 0.6% and 4.9% TREO (average 2.6%). Soil geochemistry over the covered carbonatite returned values of between 0.37% and 13.18% TREO (average 3.21%).\n Mineralogical studies of the Coola carbonatite identified the rare earth mineral to be bastnäsite, which occurs as discrete veins, veinlets, and segregations within the carbonatite.\n Soil geochemistry over the fluorite-rich zone at Coola identified an area of 13 000 m2 with average fluorite values of 17% (Calcium Flouride) CaF2.\n \n Exploration Manager, Grant Hayward, commented:\n “We are extremely encouraged by the initial results from both Coola and Sulima West and are eager for the field season to commence to follow up on these exciting targets. Whilst it is early stage, these are very large structures reporting grades which are in some cases higher than those for Longonjo.\n There are several radiometric anomalies and ring structures still to be eva...