Chilwa Minerals Confirms Niobium Mineralization at Malawi License, Shares Fall 8%

MT Newswires Live

06/05

Chilwa Minerals (ASX:CHW) said portable X-ray fluorescence results for a drill hole at its Lake Chilwa license in Malawi indicated niobium mineralization increases from 240 meters downhole, with the alkaline syenite reporting 0.165% grade of niobium pentoxide over 16.5 meters from 240 meters downhole to the end of the hole at 401.5 meters, according to a Friday Australian bourse filing.

It encountered 0.228% grade of niobium pentoxide over 22 meters from 349.5 meters downhole.

It noted that the X-ray fluorescence values are indicative only and are from pressed pulverized powder pulp following sample preparation at its in-house sample prep facility in Malawi.

Its shares fell 8% in recent trading on Friday.

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