REG - Kendrick Resources - Excellent Drill Assay Results at Bonya REE project

Kendrick ResourcesAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260316:nRSP7497Wa&default-theme=true

RNS Number : 7497W  Kendrick Resources PLC  16 March 2026

 

16 March 2026

 

Kendrick Resources PLC

("Kendrick" or the "Company")

 Excellent Drill Assay Results at Bonya REE project

Kendrick Resources Plc (LSE: KEN), the mineral exploration and development
company, is pleased to announce receipt of rare earth element ("REE") assay
results for a drill hole completed by Bonya Exploration Pty Namibia ("Bonya")
at the Bonya rare earth project. The hole was drilled on the Teufelskuppe rare
earth carbonatite target TK1A and drill core had not been assayed at the time
of Kendrick's acquisition.

 

Assays have significantly exceeded expectations with drill intercepts over
notable mineralised widths and at grades that continue to place the Bonya
carbonatite complexes at Teufelskuppe and Keishohe amongst the best rare earth
projects worldwide, including those in both the exploration phase and
operating mines.

 

Highlights

·    Pervasive high-grade Total Rare Earth Oxide ("TREO") and Light Rare
Earth Oxide ("LREO") mineralisation throughout drill hole TWDD001 drilled to a
final depth of 80.66m;

·    TWDD001 ends in mineralisation at a grade of 6.09 wt% TREO with
expectations that mineralisation continues at depth;

·    Notable intercept of 8.14 w% TREO over 21.16m from 59.5m depth with
TREO wt% grades never dropping below 6 .0 wt% and peaking at 10.7 wt% TREO
over the 21.16m run;

·    Hole drilled on Teufelskuppe ("TK") carbonatite body TK1A, one of 8
defined mineralised bodies at TK where historic surface channel sampling
returned grades ranging from 4.0 to 7.0 wt% TREO

·    48.66m of mineralisation over an 80.66m drill hole length provides
compelling proof of continuity of mineralisation at depth;

·    The average TREO and LREO wt% grades for all mineralisation in
TWDD001 reported as 4.18 and 4.10 wt% respectively;

·    The average grade of LREOs Praseodymium and Neodymium, the two most
important rare earth elements associated with high intensity magnet
manufacture have an average grade of approximately 1% combined (Nd(2)O(3)
& Pr(6)O(11)) placing Teufelskuppe amongst the highest grade deposits for
these two REEs;

·    TREO grades achieved reflect and improve on historic surface results
providing further validation of historic data;

·    With historic grab and channel sampling returning high grades on all
of the 8 separate bodies at TK, the prospect of defining high-grade
sub-surface mineralisation across the entire TK carbonatite landscape leading
to a resource of note with the current drill programme remains high; and

·    Average Thorium and Uranium grades reported at 0.019% and 0.000196%
respectively indicating low levels of radioactive elements and therefore no
perceived future penalties associated with final REE products.

 

 

 

Colin Bird Chairman commented "The results are extremely impressive and as
good a start as the Company could wish for. What is particularly encouraging
is the correlation between surface work and actual drill results since there
is much channel sampling and trenching that we are able to use to target our
future drilling. Table two clearly demonstrates that the project has the
potential as previously stated to be in the top few producing and in
development projects worldwide.

 

Grade is important, but tonnage is also a key factor and whilst it is too
early to responsibly forecast tonnage the indications are that between
Teufelskuppe and our neighbouring Keishohe carbonatite complex we have the
potential to develop tonnages equal if not greater than the more outstanding
projects currently in production or development. We now have our team on site
and are about to commence further drilling to build up a resource and we plan
to employ a second rig for reconnaissance drilling at both Teufelskuppe and
Keishohe. As the capture of raw drilling data progresses our team will be
assessing the database to fast track towards a Preliminary Economic
Assessment. All in all, we are extremely satisfied with these results and
could not have reasonably expected better and we will keep shareholders
informed as we roll out our drilling, metallurgical and Resource estimation
work programme"

 

 

Table 1: Drill Hole TWDD001 Mineralised Intercepts and corresponding TREO and
LREO wt% Grades

 Drill Hole  Depth From  Depth To  Length   TREO(1)  LREO(2)

             (m)         (m)       (m)      (wt%)    (wt%)
 TWDD001     1.35          2.35      1.00   1.85     1.81
 TWDD001     4.00        23.50     19.50    1.40     1.34
 TWDD001     29.50       35.50       6.00   4.30     4.21
 TWDD001     50.50       53.50       3.00   3.00     2.97
 TWDD001     59.50       80.66     21.16    8.14     8.00

Notes:

1.    REEs calculated as oxides and reported in weight ("wt")%

2.    Light rare earth elements included in the calculation of LREO include
the range Lanthanum to Gadolinium

 

Table Two below provides benchmarking of Teufelskuppe by TERO Ore Grade

 

Table 2: Benchmarking Teufelskuppe by TREO Ore Grade(3)

 Project                    TREO Ore Grade  Resource   Nd(2)O(3) & Pr(6)O(11) Grade      Status

                            (wt%)           /Reserve   (wt%)

                                            (Mt)
 Mountain Pass (USA)        7.06            18.9       Nd/Pr combined 1.08               Production
 Mt Weld (Australia)        6.4             32.0       Nd/Pr combined 1.50               Production
 Teufelskuppe (Namibia)     4.18(1&2)       Unknown    Nd/Pr combined 1.00               Resource Definition
 Longonjo (Angola)          3.04            22.0       Nd/Pr combined 0.80               Construction
 Nolans (Australia)         2.60            56.0       Nd/Pr combined 0.65               Construction
 Tanbreez (Greenland)       0.55            28.0       Nd/Pr combined0.55                Resource Upgrade
 Phalaborwa (South Africa)  0.44            35.0       Nd: 0.1 Pr: 0.025                 DFS

Notes

1 - Based on mean values from borehole TWDD001 and grade and channel samples
from Teufelskuppe

2 - Excludes further contribution of  0.15% from the HREOs : Sm, Eu, Gd, Tb
and Dy

3 - Information sourced from:

 
www.rainbowrarearths.com,

www.pensana.co.uk,

www.arultd.com

www. mpmaterials.com ,

www.lynasrareearths.com

www.sciencedirect.com/science/article/pii/S1674987115001310 (Baya Obo, China)

Hatch, G.P. (2014). TMR Advanced Rare-Earth Projects Index. Technology Metal
Research.

www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index

www.criticalmetalscorp.com (http://www.criticalmetalscorp.com)

 

For further information, please contact:

 Kendrick Resources Plc: Chairman     Tel: +44 2039 616 086

                                      Colin Bird
 AlbR Capital Limited                 Tel: +44 207 469 0930

 Financial Adviser and Joint Broker   David Coffman / Dan Harris

                                      Jon Bellis
 Shard Capital Partners LLP           Tel: +44 207 186 9952

 Joint Broker                         Damon Heath / Isabella Pierre

 

Qualified Person

The technical information contained in this announcement has been reviewed,
verified, and approved by Colin Bird, CC.ENG, FIMMM, South African and UK
Certified Mine Manager and Director of Kendrick Resources plc, with more than
40 years' experience mainly in hard rock mining.

 

About Kendrick Resources Plc

Kendrick Resources Plc is a mineral exploration and development company whose
strategy is to acquire and enhance the value of its mineral resource projects
through exploration, technical studies and resource development and to bring
projects to production through joint venture or other arrangements or their
sale.

 

The Kendrick Board has extensive resource project experience in southern
Africa and has gravitated back to the region with the acquisition of the Bonya
Rare Earth Project located in Namibia and in late 2025 exercised an option in
relation to the acquisition of the Blue Fox Licence, 34412-HQ-LEL located in
northwest Zambia

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLGPUQGWUPQPUA



            Copyright 2019 Regulatory News Service, all rights reserved