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Pensana Rare Earths PLC - operator of rare earths project in Angola - Starts initial field programmes at new Coola project adjacent to Longonjo project in Angola. Testing has started for high tech critical commodities including heavy rare earths such as scandium, niobium, tantalum, hafnium and fluorspar.
Targeted exploration programmes of soil, stream sediment and rock sampling along with geological mapping at the Monte Verde and Sulima alkali systems.
"The Coola project contains several high quality 'walk-up' targets prospective for a suite of key strategic 'new technology' metals forecast to be in undersupply and that could complement future NdPr and rare earth production from Longonjo. The early reconnaissance sampling results are a great start in already confirming the Coola complex as a fertile mineralised system," said Chief Operating Officer Dave Hammond.
"The presence of substantial outcrops of fluorspar, which may have direct economic potential, is also a positive indicator of mineralisation of other technology metals within the geological system," Hammond added.
Current stock price: 85.05 pence
Year-to-date change: up threefold from 27.00p since early July
By Dayo Laniyan; dayolaniyan@alliancenews.com
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