Chilwa Minerals Unveils High-Grade Bimbi Assays Ahead of Resource Update

Context and Significance of Bimbi Drilling

Chilwa Minerals Limited has delivered a substantial update on its exploration progress at the Bimbi deposit, part of the broader Lake Chilwa Critical Minerals Project in Malawi. The company announced assay results from 1,359 samples collected across 207 sonic drillholes, revealing encouraging grades of Total Heavy Minerals (THM) that align with prior expectations and support the advancement of resource modelling.

The Bimbi deposit, located centrally along the western shore of Lake Chilwa, is one of ten identified heavy mineral sands deposits within the project area. It forms part of a paleoshoreline deposit system, preserved several kilometres inland from the current lake edge. The recent sonic drilling campaign, completed over a 3km strike length, has enhanced core recovery and geological understanding, enabling more robust mineral resource estimation.

Highlights from Assay Results and Resource Estimates

The assay results include multiple high-grade intercepts, with THM percentages reaching as high as 24.9% over 1.4 meters and several other intervals exceeding 13% THM near surface. These grades are significant for heavy mineral sands projects, indicating a potentially economically attractive mineralisation.

Currently, the Bimbi and adjacent Northeast Bimbi deposits have an inferred Mineral Resource Estimate of 8.7 million tonnes at 3.5% THM, with Bimbi alone accounting for 2.6 million tonnes at a notably higher grade of 5.3% THM. This new drilling data will be incorporated into an updated Mineral Resource Estimate expected by the end of June 2025, which will refine the project's scale and grade profile.

Advancing Towards Feasibility and Broader Exploration

Beyond the resource update, Chilwa Minerals has initiated a scoping study managed by TZ Minerals International, a respected consultancy with prior experience on the project. This study aims to evaluate mining scenarios and metallurgical processes, with results anticipated in the September quarter. The company’s focus remains on upgrading resource confidence and integrating new data from the western and northern shore deposits.

In parallel, exploration continues at other project targets, including the Mpyupyu Flats and Namasalima deposits, with assay results from recent drilling expected shortly. Chilwa is also progressing its rare earth element exploration program, targeting 47 carbonatite prospects with ongoing drilling and geochemical sampling, reflecting a strategic diversification into critical minerals beyond heavy mineral sands.

Technical Rigor and Quality Assurance

The company has employed sonic drilling techniques to improve sample integrity and geological resolution, supported by a comprehensive quality assurance and quality control (QAQC) program. Independent verification by competent persons and laboratory audits underpin the reliability of the assay data. This methodological rigor enhances confidence in the forthcoming resource estimates and feasibility assessments.

Chilwa’s Managing Director, Cadell Buss, emphasised the alignment of results with expectations and the company’s commitment to advancing the project through systematic exploration and study phases. The integration of historic data with new sonic drilling results is expected to provide a clearer picture of the project’s potential.