Lindian Resources to add tenements into its bauxite portfolio

Lindian Resources Ltd announced that it had lodged applications for two additional tenements with a total area of 96.85 square kilometres. The new applications follow the identification of new areas of high-grade bauxite mineralisation across both the PL/13400/2018 and PL/13564/2019 tenements during recent fieldwork programs.

PL/13400/2018 comprises two deposits, the Magamba South Deposit and Kidundai deposits, and is located within the broader Lushoto Project area. PL/13564/2019 contains the Pare deposit, where the rock chip sampling confirmed high-grade mineralization.

Source:Lindian Resources

Lindian chairman Asimwe Kabunga commented: “We are continuing to actively build our portfolio of high-grade bauxite tenements in Tanzania and the granting of these additional licences will increase our total landholding to over 310 square kilometres.

“We are very encouraged by the high-grade assays received to date from these new tenements as they demonstrate the potential to add significant value to Lindian’s portfolio.

“Our immediate focus is now on commencing an aggressive exploration program to follow-up a number of the high-grade assays reported during sampling. We expect this program to be underway during Q2 2019.

“As well, we are also working diligently towards achieving a positive outcome for our shareholders in regard to the Kangankunde Rare Earth Project transaction and we look forward providing further updates on this process in due course.”