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DY6 Metals

High Grade HREE + Nb Intercepts at Machinga

Heavy rare earths and niobium explorer DY6 Metals Ltd (ASX: DY6) (“DY6”, “the Company”) is pleased to announce the receipt of initial assay results for the RC drilling program completed at the Machinga Main Northern Anomaly, part of the Company’s flagship Machinga project in southern Malawi (Figure 1).

  • High-grade HREE and Nb2O5 results returned from initial 11 holes of 35-hole RC program at Machinga Main Northern Zone
  • Multiple +2500ppm total rare earth oxide + yttrium (“TREO”) and significant 1-2 wt% TREO assay values
  • Hole MR011 intersected enriched REE mineralisation, returning a standout intercept of:
    • 7m @ 1.42% TREO with 0.49% Nb2O5 and 546ppm Dy2O3 + Tb4O7 (3.8% DyTb:TREO) from 65m, plus 1m @ 1.17% TREO, 1.36% Nb2O5 from 119m at end of hole
  • Drilling confirms Machinga Main Northern Zone is particularly enriched in valuable heavy rare earths dysprosium (Dy) and terbium (Tb)
  • Results returned an average of 28% HREO:TREO and 3.5% DyTb:TREO at a cutoff grade of >2500ppm TREO
  • Widespread REE intersections with assays including:
    • MR001: 3m @ 5638 ppm TREO, 2102 ppm Nb2O5 from 7m; including 1m @ 1.31% TREO from 8m; and 4m @ 5405 ppm TREO, 2550 ppm NB2O5 from 81m
    • MR002: 5m @ 7196 ppm TREO, 2706 ppm Nb2O5 from 44m, including 1m @ 1.65% TREO from 45m; and 3m @ 4615 ppm TREO, 1553 ppm Nb2O5 from 66m, including 1m @ 1.05%TREO from 66m
    • MR005: 16m @ 5399 ppm TREO, 2106 ppm Nb2O5 (3.6% DyTb:TREO) from 78m, including 3m @ 1.63% TREO, 0.7% Nb2O5 from 87m
    • MR008: 5m @ 5186 ppm TREO, 1698 ppm Nb2O5 from 25m, including 1m @ 1.39% TREO from 26m
    • MR009: 5m @ 6175 ppm TREO, 2385 ppm Nb2O5 from 23m
    • MR010: 3m @ 6391 ppm TREO, 2334 ppm Nb2O5 from 40m and 10m @ 3919 ppm TREO, 1388 ppm Nb2O5 from 24m
    • MR011: 7m @ 1.42% TREO, 4928 ppm Nb2O5 (3.8% DyTb:TREO) from 65m; plus 1m @ 1.17% TREO, 1.36% Nb2O5 from 119m
  • Remaining assays from phase one Reverse Circulation (“RC”) and Diamond Drilling (“DD”) program at Machinga to be reported throughout Q4 2023
The results received are from 1m and 3m composite intervals from the initial 11 holes (1320m) drilled as part of DY6’s maiden 35-hole, 3,643m RC drill program at Machinga Main Northern Zone.
Assays returned a series of significant intercepts based on a 2500 ppm total rare earth oxide + yittrium (“TREO”) cut-off grade from the Machinga Main Northern Zone including 7m @ 1.42% TREO with 0.49% Nb2O5 (MR011) and 16m @ 0.54% TREO with 0.21% Nb2O5 (MR005)

The mineralisation at the Machinga alkaline complex contains a higher proportion of valuable dysprosium-terbium (DyTb) with results indicating an average 3.5% DyTb:TREO in samples greater than 2500ppm TREO.

Assays also identified significant critical Nb2O5 potential with grades of 0.28% Nb2O5 at a cutoff grade of 2500 ppm TREO and 0.64% Nb2O5 for samples at TREO grades greater than 1%.

A strongly mineralised hydrothermal breccia system striking NW-SE and dipping shallowly ~35° to the NE has been confirmed by the drilling. Pleasingly, very high-grade zones have been intersected, as well as the suggestion of the mineralised zones thickening at depth (Figure 3). Significant drill intercepts received from the first batch of assays from the drilling program are included in Table 2.

The breccia host was not recognised until the commencement of diamond drilling; with the RC chips then being reviewed, samples will be selected for petrography from both the core and RC drill material.

Cutting and sampling of the diamond drill core, installation of collar beacons on all RC and DD collars and survey of the drill collars along with approximately half the historic Globe Metals and Mining (ASX: GBE) (“GBE”) collars has been completed. Results for the remaining 24 RC holes from Machinga Main Northern Zone are expected to be released progressively during October and the first batch of DD assays (from eight diamond holes drilled for 900m) are expected in the December quarter.

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This article includes content from DY6 Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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