Pensana PLC - miner of rare earth metals for electric vehicles and wind turbines - Reports strong progress from its Coola project in Angola, with field exploration activities having resumed in the third quarter of 2021. The Coola carbonatite has an "enriched distribution of heavy rare earths" compared to the light rare earth elements, the company notes. While there is strong evidence for the presence of further quantities of fluorite, a crucial product in a growing range of chemical, ceramic and metallurgical processes.
While the global pandemic has interrupted field staff site access, a Phase II programme has commenced and is on track to conclude in the fourth quarter, Pensana says.
"Now that Covid restrictions are being eased we are really pleased to get the team back in the field and restart exploration activities at Coola," says Chief Executive Tim George.
"The Coola carbonatite is the first of several targets within the 7,500 km exploration licence area we will be targeting. The initial focus is to follow up on the heavy rare earths, scandium and fluorite anomalies identified at Coola."
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By Will Paige; willpaige@alliancenews.com
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Pensana Plc (PRE)