Chilwa Minerals (ASX:CHW) said the analysis of rare earth element anomalies at the EL0670-22R1 license in Malawi, based on their geochemical signatures, enabled the ranking of targets according to their potential for hard rock rare earth element mineralization, according to a Monday Australian bourse filing.
The program covered all 47 geophysical anomalies identified during a radiomagnetic survey in 2024, the filing said. The results demonstrate significant potential for both heavy and light rare earth elements, as well as niobium.
Chilwa Minerals' shares rose almost 4% in recent trading on Monday.