Australian company Kimberley Rare Earths has found a new area with potential for the existence of rare earth oxides in Malilongue, Tete province in Mozambique, the company said in a statement published Tuesday by the Sydney Stock Exchange.
The company started prospecting in Malilongue where significant metallic anomalies have been detected just 9 kilometres from the Vundu region where rare earths were recently found.
In the statement the company said that Malilongue was geologically similar to the Strange Lake deposit in Canada, which has estimated reserves of 230 million tons.
In Malilonge the company has collected 1,800 soil samples using a grid system and the results of one of the areas have identified a geo-chemically important area with occurrences of lithium, tantalum and tin.
Kimberley Rare Earths, which is listed on the Sydney Stock Exchange, is involved in exploration of the Cummins Range deposit, in Western Australia, which is one of 20 officially identified rare earth deposits in the world. (macauhub)