REG - Kendrick Resources - Kieshöhe Project Update

Kendrick ResourcesAnnouncement

Today 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:20260326:nRSZ1339Ya&default-theme=true

RNS Number : 1339Y  Kendrick Resources PLC  26 March 2026

 

26 March 2026

 

Kendrick Minerals Plc

("Kendrick" or "the Company")

Kieshöhe  Project Update

Kendrick Resources PLC the mineral exploration and development company which
via its Bonya rare earths project has a 70% interest in both EPL 6691
("Teufelskuppe" or "TK")) and EPL 4458 (" Kieshöhe" or "KH") is pleased to
provide an exploration and resource development update for the Kieshöhe
project, located in southern Namibia, approximately 40km west of the
settlement of Aus and 60km east of the major coastal port of Lüderitz.

The drilling programme planned for the two carbonatite complexes of Kieshöhe
and Teufelskuppe has commenced.  A second drill rig is being sourced to
facilitate drilling at both sites simultaneously.  At Kieshöhe, extensive
trenching of more than 2,500m combined  length is being sampled. Evidence of
mineralised breccia between high-grade carbonatite cone sheets is under
investigation at Kieshöhe and will be trenched, channel and bulk sampled for
both grade assessment and ore sorting sighter test work. The Kieshöhe
programme has been designed to provide sufficient information to facilitate a
mineral resource estimate.

 

Kieshöhe samples have been submitted to an independent international
specialist facility for detailed petrological studies with an emphasis on the
provision of data and guidance to support the next phase of metallurgical test
work optimisation and inform further exploration.

 

Highlights

·    Assay results derived from 14 diamond drill holes (Phase I) together
with channel sampling generated an average TREE grade of 1.6 wt%

·    TREE abundance for whole-rock channel samples from dolomitic
ferrocarbonatite outcrop and xenolith-free core sections shows an average
grade of 2.0 wt %.

·    High-value, super magnet rare earths neodymium (Nd) and praseodymium
(Pr) provide an average contribution of 27 wt% to the rare earth pool.

·    Three open pits have already been identified as potential satellite
sources of ore supply to complement the high-grade expected resource from
Teufelskuppe, the flagship REE project for Kendrick

 

Chairman, Colin Bird said: "The Kieshöhe work programme will assess the
potential for the project to serve as a supporting venture to our flagship
Teufelskuppe project.  The extensive and diverse historical exploration at
Kieshöhe  has broadly defined a large REE resource at very good grades at a
time when REE resources have been identified are a priority for society
globally. We will now progress a detailed work programme that is centred on
confirming the lateral and depth continuity of the surface geology, grade and
mineral assemblage leading to a JORC (2012) Mineral Resource Estimate
supported by comprehensive metallurgical test work."

 

Kieshöhe  Project Backdrop & Exploration - Resource Development
Rationale

Local Geology and Structures

The exposed portions of the Kieshöhe  carbonatite complex are limited in
surface expression, visible mostly as brown or yellow outcropping cone sheets,
dykes and sills that intruded into the basement gneiss host rock. The outcrop
covers an area of 1.3km x 0.9km and lie approximately 30km NNE of the
Company's flagship REE project at Teufelskuppe. Mineralisation is like that at
Teufelskuppe with the fluorcarbonates, synchysite and parisite, hosting the
valuable REE resources.

Outcrop of (mostly) dolomitic and calcitic ferrocarbonatite at Kieshöhe  is
configured in three proximal groupings oriented SW to NE in a 2km wide
corridor. They lie prominently above the surrounding sand and calcrete covered
plains in the form of semi-circular arcs surrounded by carbonatite-bearing
breccias. The KH geology shows three distinct structural units of
sub-vertical, dipping carbonatite dykes, sills and cone sheets.

Channel and Core Sampling and Analytical Methodology

Assay results derived from fence lines of channel sampling completed across KH
provided the motivation for subsequent diamond drilling.

 

Historical Exploration Results

The mean TREE abundance varies across the licence with peak grades of up to 10
wt% total REE. The significance of this is described in detail elsewhere
(Walter et al., 2022) and is summarised below.

TREE across all whole-rock channel samples and the drill core has been
reported in a scientific journal by Walter et al., 2022 (Annexes 1-3), under
the three categories of: dolomitic carbonatites (#22) (1.9 wt%), calcitic
carbonatites (#11) (2.1 wt%) and ankerite carbonatites (#4) (0.5 wt%) with no
clear grade separation between the NE, Central and SW zones of outcrop.
Overall, the combined KH carbonatite samples (channel/drill core) contained
1.6 wt% TREEs, with a peak value of 10.1 wt%, including 5 wt% cerium (Ce), 3.5
wt% lanthanum (La) and over 1.0 wt% neodymium (Nd). A notable feature of the
Kieshöhe  carbonatites is that the uranium concentrations are low compared
to carbonatites elsewhere.

The abundances of the high commercial value super magnet metals, neodymium and
praseodymium, is typically 20-35% (mean 27%) of the 1.6 wt% REE head grade but
with notable outliers of 1.55 wt% Nd and 0.55 wt% Pr (both expressed as the
oxides, Nd(2)O(3) +Pr(6)O(11)) (LREO). Heavy rare earths (HREO) including
those from samarium (Sm) to lutetium Lu) in the HREO sequence, but also
including yttrium (Y), contribute an average 0.13 wt% across the three
categories of carbonatite.

 

Prospects and Market Demand

The dominant rare earths in the KH complex at Kieshöhe  are light elements
in the order Ce>La>>Nd>Pr. The relative enrichment between the
lighter cerium (Ce) and lanthanum (La), and neodymium (Nd) and praseodymium
(Pr) is encouraging, especially as the principal REE-bearing structures
conveniently form three adjacent groupings. These could serve as satellite
sources of open-pit derived material for a central processing unit within the
Teufelskuppe project area, some 30km distant and easily accessible.

 

Increasing global demand for specific REEs in defence systems, medical
imaging, telecommunications and advanced visual displays supports the
prospective value of the Kieshöhe  project. A new Namibian supply of scarce
rare earth elements is strategically significant, especially when aligned with
the nearby Teufelskuppe initiative. REE product demand is going to increase
globally and new supply streams that reduce reliance on China, the major
producer and exporter of REEs, and which are located in stable,
mining-friendly jurisdictions, is a recognised security target for all
industrialised nations as exemplified by the EU Critical Raw Materials Act
(2023).

 

Near Term Kieshöhe  Project Advancement

Further, laboratory-scale mineral processing trials have been initiated to
verify the recoverability of the key rare earths using processing technologies
customary to the industry. These will recognise the specific mineralogy of the
surface rocks and minerals comprising the Kieshöhe  asset to ensure
compatibility with that required to develop the Teufelskuppe resources.

 

Reference Citation

Walter, B.F., Giebel., J, Marlow, A.G., Siegfried, P.R., Marks, M., Markl, G.
Palmer, M. & Kolb, J. 2022. The Kieshöhe carbonatites of southwestern
Namibia - the post-magmatic role of silicate xenoliths on REE mobilisation.
Communications of the Geological Survey of Namibia, 25, 1-BBBB.

 

 

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

 

Glossary:

 

Breccia: Clastic rocks consisting of angular fragments (>2mm), cemented
together in a fine-grained matrix.

Carbonatite: An igneous rock containing >50 modal % primary (magmatic)
carbonate and ≤20 wt% SiO(2). There are three main types: Calcitic (calcio)
carbonatites, magnesiocarbonatites and ferrocarbonatites. Occur as lava flows
and more commonly as intrusions.

Carbonate: Common minerals containing the carbonate anion (CO3(2-)) for
example calcite (CaCO(3)), dolomite (CaMg(CO(3))(2), siderite (FeCO(3)) and
Ankerite Ca(Fe,Mg,Mn)(CO(3))(2).

Cone sheet: A type of ring intrusion with margins which dip inwards.

Ferrocarbonatite: A carbonatite in which the main carbonate mineral is
iron-rich, for example, ferroan dolomite, ankerite or siderite.

Fluorcarbonates: A group of minerals consisting of variable calcium, high
fluorine, and rare earth elements. Examples are Synchysite and Parisite.

Synchysite: A group of fluorcarbonates with typical mineral formula
Ca(Ce/Nd/Y/REE)(CO(3))(2)F.

Parisite: A group of fluorcarbonates with typical mineral formula
Ca(Ce/La/Nd/REE)(2)(CO3)(3)F(2).

Jorc 12 Mineral Resource Code: The Australian Code for Reporting Exploration
results, Mineral resources and Ore reserves. Enforces minimum standards and
guidelines for public reporting of mineral resources and ore reserves.
Classifies mineral resources into Inferred, Indicated and Measured based on
the level of geological confidence regarding the quality and quantity of the
resource.

Petrological studies: the study of the formation of rocks, subsequent
deformation and alteration. Quantification of mineral composition and mineral
relationships.

REE : Rare Earth Elements. Elements with an atomic number between 57 and 71
plus Scandium and Yttrium.

TREE: Total Rare Earth Elements; sum of LREE and HREE to a total of 17
elements.

LREE: Light Rare Earth Elements including Lanthanum (La), Cerium (Ce),
Neodymium (Nd), Praseodymium (Pr), Scandium (Sc), Samarium (Sm) and Europium
(Eu) and Promethium (Pm).

HREE: Heavy Rare Earth Elements including Yttrium (Y), Gadolinium (Gd),
Terbium (Tb), Dysprosium (Dy), Holmium (Ho), Erbium (Er), Thulium (Tm),
Ytterbium (Yb) and Lutetium (Lu).

LREO: Light Rare Earth Oxides including La(2)O(3), CeO(2), Nd(2)O(3),
Pr(6)O(11), Sc(2)O(3), Sm(2)O(3), Eu(2)O(3).

HREO: Heavy Rare Earth Oxides including Y(2)O(3), Gd(2)O(3), Tb(4)O(7),
Dy(2)O(3), Ho(2)O(3), Er(2)O(3), Tm(2)O(3), Yb(2)O(3) and Lu(2)O(3).

Wt % = Weight Percentage

 

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  DRLAKPBNQBKDANB



            Copyright 2019 Regulatory News Service, all rights reserved