Rare earth potential grows at Teufelskuppe, elevating Kendrick Resources’ market value
Kendrick Resources PLC saw its shares rise some 24%, reaching 4.66p, after a new survey identified about 14 million tonnes of above-ground mineralised carbonatite at its Teufelskuppe rare earth project in Namibia, giving the explorer a larger surface tonnage base as it works toward a formal resource estimate.
The in-house estimate was derived from a high-resolution digital elevation model and updated density data, the company noted. It’s work defined roughly 4.6 million cubic metres of surface mineralisation, supporting the 14Mt estimate at a revised bulk density of 3.0 grams per cubic centimetre.
Surface carbonatite grades range from 2.2% to 7.06% total rare earth oxides, while historic channel sampling returned an average grade of 3.1% TREO, with peak values of 4.79% and 4.73% in central zones. Kendrick said the current estimate covers only exposed material, with recent drilling indicating further mineralisation below the surface.
Chairman Colin Bird said the initial estimate “already credits the Project with higher tonnage than most top-tier projects”, adding that the above-ground material was “literally the tip of the iceberg” given the company’s expectation of additional tonnage beneath the surface expressions.
Kendrick holds a 70% interest in Teufelskuppe and said ongoing diamond drilling and channel sampling are intended to convert surface and sub-surface mineralisation into a JORC-compliant Mineral Resource Estimate.
