Chilwa Minerals Confirms Niobium Mineralization at Malawi License, Shares Fall 8%
MT Newswires Live
Jun 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.