Lion Rock Unveils High-Grade Rutile Zones; Tronox Secures $600M Rare-Earth Backing

Exploration Breakthrough at Minta

Lion Rock Minerals Ltd has reported compelling new drilling results from its Minta Rutile and Monazite Project in Cameroon, confirming the presence of high-grade rutile mineralisation over an expansive area exceeding 3,800 square kilometres. Recent assays reveal insitu rutile grades reaching up to 2.2%, with multiple intercepts exceeding 1% rutile, underscoring the project's significant scale and economic potential.

The company’s reconnaissance drilling, conducted at broad spacings, has successfully delineated several high-value rutile corridors, particularly in the central and northeastern sectors of the project. Heavy mineral concentrations have also been impressive, with residual intercepts showing grades as high as 11.34% over 2.8 metres and alluvial intercepts up to 12.5% over 4 metres, indicating robust mineral assemblages suitable for further development.

Strategic Partnership and Government Support

Adding strategic depth to Lion Rock’s exploration efforts, Tronox Holdings plc, a major player in mineral sands and rare-earths, has secured conditional, non-binding support for up to US$600 million in financing from the Export-Import Bank of the United States and Export Finance Australia. This funding is earmarked to advance Tronox’s rare-earth expansion in Western Australia, including infrastructure and processing facilities.

Tronox’s 5% strategic investment in Lion Rock and its rare-earth ambitions align closely with Lion Rock’s focus on monazite-enriched zones within the Minta Project. This partnership signals potential integration across the supply chain, from mineral sands extraction in Cameroon to rare-earth processing in Australia, positioning both companies to capitalize on the growing demand for critical minerals.

Advancing Exploration and Infrastructure

Lion Rock is accelerating its exploration program with targeted infill drilling at the Minta Est area, which hosts the highest-grade rutile, zircon, and monazite mineralisation. The company is also commissioning a new laboratory in Yaoundé, Cameroon, equipped with Heavy Liquid Separation technology, expected to be operational by January 2026. This facility will enhance assay turnaround times and data quality, enabling more rapid decision-making.

The exploration strategy emphasizes a dual approach, focusing on both residual soil plateaus and extensive alluvial river basins, which have been independently assessed as suitable for dredge-mining development. This diversified targeting enhances the potential to delineate multiple deposit types across the project’s vast footprint.

Outlook and Market Implications

With a secure tenure and no material impediments in Cameroon, Lion Rock is well-positioned to advance one of the largest under-explored rutile and rare-earth provinces globally. The combination of robust drilling results, strategic investor backing, and government-supported financing for rare-earth development creates a compelling narrative for the company’s growth trajectory.

However, while the results are promising, the project remains at an exploration stage, with economic viability contingent on further infill drilling, resource estimation, and feasibility studies. The conditional nature of Tronox’s financing and the absence of a direct funding guarantee to Lion Rock introduce elements of uncertainty that investors will watch closely.