REG - Kendrick Resources - Namibia REE Project, Teufelskuppe Drilling Update

Kendrick ResourcesAnnouncement

14/04/2026 11:45

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RNS Number : 4286A  Kendrick Resources PLC  14 April 2026

 

14 April 2026

 

 

Kendrick Resources Plc
("Kendrick" or "the Company")

Namibia REE Project, Teufelskuppe Drilling Update

 

Kendrick is pleased to announce highly encouraging results from its ongoing
drilling programme at the Teufelskuppe ("TK") rare earth carbonatite project
in Namibia, further reinforcing the project's potential to host a globally
significant light rare earth element ("LREE") resource.

 

Handheld pXRF(1) analysis has now been completed on drill hole TKDD002, which
was drilled to a final depth of 116m within the TK carbonatite complex. The
results provide a strong early-stage indication of exceptional LREE
mineralisation, with assays from an independent certified laboratory currently
pending. The Company holds a 70% interest in the Teufelskuppe  and Kiešhöhe
("KH") exploration licences through its agreement with Bonya Exploration Pty
Namibia Ltd.

 

Highlights

·      High-grade LREE intercept of 3.4% over 7.0m from 109m, confirming
the presence of significant mineralisation and further supporting the
project's strong grade profile.

·      Grades are consistent with, and in places exceed, surface
sampling results, which returned an average of 3.16% TREO across all eight
carbonatite bodies - placing Teufelskuppe among the more compelling rare earth
projects globally in terms of grade.

·      Multiple very high-grade intervals identified, including peak
values of up to 14.8 wt%, 9.80 wt%, 6.50 wt%, 5.20 wt% and 3.90 wt % LREO,
comprising a partially consolidated clay - carbonatite fill.

·      The mineralisation encountered within the carbonatite system
indicates continuity of high-grade LREE mineralisation, reinforcing confidence
in the scale and quality of the deposit.

·      The intersected carbonatite zone between 76.5m and 116m
highlights a weathered and strongly mineralised system, with high-grade zones
suggesting the presence of a substantial and fertile rare earth-bearing
environment.

·      These results build on previously reported drilling, including
TKDD001, which returned 8.14% TREO over 21.16m, further underlining the
project's potential to host globally competitive rare earth grades.

·      Drilling at TKDD003 has commenced on the TK2 carbonatite body,
targeting depth extensions beneath previously defined high-grade zones, with
the aim of confirming continuity across the broader TK complex.

 

Colin Bird, Executive Chairman said:" This hole TKDD002 supports the statement
that grades of over 3% TREO exist over the eight carbonatite bodies.
Management and the on-site team are actively considering all available rare
earth industry techniques to optimise the raw data to be generated for a
feasibility study.  High-grade rare earth deposits frequently occur in highly
weathered systems and we are considering the use of reverse circulation
drilling to improve sample recovery and productivity. We will keep the market
advised of drilling and other technical progress as work progresses."

 

 

Commentary

The results from TKDD002 continue to demonstrate the exceptional grade and
scale potential of the Teufelskuppe project. The consistency between surface
and drilling results, combined with the presence of very high-grade zones,
provides increasing confidence that the project could represent a significant
new source of light rare earth elements.

 

The Company believes that the grades encountered to date compare favourably
with many advanced rare earth projects globally, positioning Teufelskuppe as a
highly attractive development opportunity in a strategically important
commodity sector.

 

With further drilling underway, Kendrick Minerals remains focused on rapidly
advancing the project and unlocking its full potential.

 

Note 1: The handheld pXRF has been calibrated using pulps generated from the
certified analysis of drill hole TKDD002 together with other standards
provided by external third parties. The pXRF analyses are indicative and may
not be wholly representative of the final assay analyses generated by
certified laboratories. pXRF analyses provide an early assessment of
mineralised intercepts that ultimately require more accurate assessment
through certified laboratories.

 

 

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:

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.

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

 

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