REG-Pensana Plc: Update on Longonjo infill and resource expansion drill programme

PensanaAnnouncement

21/01/2026 07:05

 

 

 

21 January 2026

THIS                                                              ANNOUNCEMENT
                                                             CONTAINS         
                                                    INSIDE                    
                                         INFORMATION

 

Pensana Plc ("Pensana"                                                        
     or                                                              the      
                                                       "Company")

 

Update on Longonjo infill and resource expansion drill programme

 

Pensana Plc (LSE: PRE) is pleased to advise that it has commenced preparation
for a 7,000 metre infill drill programme at its Longonjo rare earth project in
Angola. The programme is designed to provide both detailed geological and
grade control information ahead of the commencement of mining and
stockpiling/blending activities in early 2027 alongside the resource expansion
drilling programme announced on 17 November 2025.

Two reverse circulation drilling rigs are planned to be mobilised ahead of
drilling activities throughout the anticipated dry season from May through to
October 2026. The programme anticipates completion of a 10 x 10 metre drill
grid across the weathered run-of-mine from the initial pit(s) production
zones/areas.

The Longonjo deposit comprises a near-surface blanket of high-grade, NdPr-rich
total rare earth oxides (TREO), with an average depth of approximately 30
metres. Previous drilling has confirmed that mineralisation extends to depths
in excess of 100 metres beneath the current resource, indicating significant
potential to increase the resource base through further drilling.

During the campaign samples will also be collected at depth to develop a
detailed understanding of the full vertical extent of the mineralization and
support assessment of the potential for an increase in inferred resources from
the existing 313 million tonnes at 1.43% TREO towards one billion tonnes at a
similar grade - which would make it one of the world's largest rare earth
deposits currently in development .

A laboratory is being procured for delivery to site alongside drill rig
mobilisation. This containerised unit will include sample preparation
facilities and an automated XRF analyser enabling timeous and cost saving
multi-element analysis on site. Grade control drilling will be ongoing for
most of the Longonjo life of mine, staying a year ahead of mine planning.

These results will further support the current mine and stockpile blending
plan developed with Practara, well before commissioning, and enhances the
existing dataset.

About Pensana

Pensana is developing one of the world's largest and highest-grade magnet
metal rare earth deposits which will produce initially 20,000 tpa of a clean
high value MREC including both LREE and HREE. The plan is to expand production
to 40,000 tpa of MREC once initial operations have been established.

The Longonjo operation will extract, concentrate, calcine and chemically
refine the free dig material to produce a high-value MREC which will be railed
273 kilometers in containers to the Atlantic port of Lobito for export.

Pensana is looking to establish a world class fully integrated mine-to-magnet
supply chain in partnership with US partners and with backing from U.S.
Government.

The Longonjo rare earths deposit is located adjacent to the Lobito rail
corridor approximately 60 kilometers west of the provincial capital of Huambo
in central Angola.

The project currently under development comprises an open pit, concentrator
and recovery plants, tailings storage facility (designed to meet the
requirements of the Global Industry Standard on Tailings Management), process
water supply, bulk power supply, mine infrastructure, workshops, offices,
accommodation village, recreational facilities, and other associated
infrastructure.
The information contained within this announcement is considered by the
Company to constitute inside information as stipulated under the Market Abuse
Regulations (EU) No.596/2014. Upon the publication of this announcement via a
Regulatory Information Service, this inside information will be               
    considered                    to                    be                   
in                    the                    public                    domain.
                   The                    person                   
responsible                    for                    arranging               
    for                    the                    release                   
of                    this announcement on behalf of the Company is Paul
Atherley (Chairman).
-                               ENDS-

For                                                              further      
                                                       information,           
                                                  please                      
                                       contact:

Shareholder/analyst                                                           
  enquiries:

Pensana                                                              Plc

Paul Atherley, Chairman

IR@pensana.co.uk

Tim George, Chief Executive Officer

Rob                    Kaplan,                    Chief                   
Financial                    Officer



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