REG - Kendrick Resources - Teufelskuppe Unlocks Major Expansion Potential

Kendrick ResourcesAnnouncement

Mon 07:00

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RNS Number : 6551D  Kendrick Resources PLC  11 May 2026

 

11 May 2026

 

 

Kendrick Resources Plc

("Kendrick" or "the Company")

 

Teufelskuppe Unlocks Major Expansion Potential

 

Kendrick Resources ("Kendrick" or the "Company") is pleased to announce a
highly encouraging milestone at its flagship Teufelskuppe ("TK") rare earth
project in south-west Namibia, following the completion of a high-resolution
Digital Elevation Model (DEM) survey and updated volumetric assessment of
surface mineralisation. Work completed together with the tonnage estimate
provides a visible, high-confidence foundation for resource growth.

 

Under its definitive agreement with Bonya Exploration Pty Namibia, Kendrick
holds a 70% interest in the TK project, which is rapidly emerging as a rare
earth asset of exceptional grade and potentially corresponding tonnage.

 

Highlights

·    14 million tonnes of high-grade, above ground carbonatite
mineralisation identified from exposed outcrops

·    In-house non-JORC (2012) tonnage estimate based on high quality
volumetric modelling and updated bulk density data

·    Surface carbonatite grades ranging from 2.2% to 7.06% TREO, placing
TK amongst the highest grade rare earth projects globally

·    Easily accessible, visually identifiable mineralisation significantly
reduces geological risk

·    Current tonnage estimate represents only a fraction of total
potential, with drilling already confirming substantial mineralisation at
depth

·    Ongoing diamond drilling and channel sampling designed to convert
surface and sub-surface mineralisation into a JORC (2012) Mineral Resource
Estimate

 

Colin Bird, Chairman of Kendrick Resources commented "I am delighted with this
initial internal tonnage estimate which already credits the Project with
higher tonnage than most top tier projects. I stress that this tonnage is
above ground and literally the tip of the iceberg since significant tonnage is
postulated to be below these surface expressions one of which is over 150m
high. It should also be noted and emphasised that his above surface tonnage
lends itself to quarrying and as such is not even open cut mining. Again, this
above ground tonnage estimate is confined to the TK project, and we have not
considered any tonnage contribution that may come from the Kieshöhe ("KH")
project. KH is expected to have an even larger tonnage that will be open
pittable.  Thus, our expectations for a gross tonnage much larger than most
other global rare earth projects appears to be realistic."

The DEM volumetric assessment has defined a surface volume of approximately
4.6 million cubic metres which, when combined with a revised bulk density of
3.0 g/cm(3), supports an in-house estimate of approximately 14Mt of
above-ground mineralised carbonatite.

Whilst not yet JORC (2012) compliant, the exceptional exposure, grade
continuity, accessibility and abundance of visible mineralisation place these
surface carbonatites in a uniquely low-risk category relative to typical
sub-surface deposits. It is believed that there are only a few rare earth
projects globally that can demonstrate such a large, coherent body of
high-grade material exposed at surface.

Recent drilling including diamond drill hole TSDD001 that returned exceptional
results, provide strong geological indicators for expected sub-surface
expansion of the resource. Drill intercepts of high-grade mineralisation
reinforce the view that the exposed carbonatites represent only the uppermost
fraction of a much larger system.

Historic channel sampling returned an average TREO grade of 3.1% with peak
values of 4.79% and 4.73% in the central zones. There grades compare extremely
favourably with major producing and development-stage rare earth projects
worldwide.

Whilst some historic in-house tonnage estimates had previously been conducted
but not published, the modern DEM surveying programme has provided a
step-change in confidence in the estimate. The updated tonnage estimate builds
on an inherited 2017 semi-quantitative assessment, replacing earlier modelling
techniques with a high-resolution, custom built digital elevation model
derived from modern satellite imagery.

This approach has delivered a materially more accurate picture of the
principal rare earth bearing structures, which represent a circular group of
hills dominated by mineralised dyeks, sills and cone sheets.

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

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).

 

TREO: Total Rare Earth Oxides.

 

Wt % = Weight Percentage

 

 

 

 

 

 

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