285 Holes Drilled at Minta Est; 500 Million Shares to Vendors Issued
Lion Rock Minerals confirms coarse monazite crystals in residual soils at its Minta Est project, validating its exploration model and advancing its rare-earths ambitions. The milestone achievement also triggers the issuance of 500 million deferred shares to vendors.
- 285 holes drilled for 1,227m in ongoing infill program at Minta Est
- Visual confirmation of coarse monazite crystals validates geological model
- Heavy mineral separation lab equipment enroute to Cameroon for faster analysis
- Milestone met to issue 500 million deferred shares to project vendors
- Strategic partnership with Tronox underpins rare-earth and titanium supply ambitions
Exploration Progress at Minta Est
Lion Rock Minerals Ltd (ASX – LRM) has reported encouraging progress in its infill drilling program at the Minta Est monazite-enriched granite in central Cameroon. With 285 holes drilled for a total of 1,227 metres, the company has visually confirmed the presence of large, coarse monazite crystals in residual soils, a key validation of its geological model that positions the monazite-enriched granite as the primary source of rare-earth mineralisation in the area.
This visual confirmation, observed during a recent field trip by the company’s Competent Person, Richard Stockwell, supports the strategy to focus exploration efforts on high-value mineral assemblages including rutile, zircon, and monazite. The presence of coarse monazite crystals dominating mineral assemblages in weathered saprolite horizons suggests a robust local source rather than transported alluvial deposits.
Enhancing Analytical Capacity
To accelerate assay turnaround and improve heavy mineral separation capacity, Lion Rock is commissioning new laboratory equipment in Yaoundé, Cameroon. The heavy liquid separation facility, expected to be operational from January 2026, will complement ongoing sample analysis currently conducted at Scientific Services in Cape Town, South Africa. This in-country capability is anticipated to reduce freight costs and speed up data delivery, supporting the expanded exploration objectives for the Minta Est and broader Minta projects.
Strategic Partnership and Project Milestones
Lion Rock’s strategic partnership with Tronox, a global leader in titanium dioxide production, is a significant underpinning of the project’s potential. Tronox’s recent 5% strategic investment in Lion Rock highlights confidence in the emerging rare-earth and titanium supply chain opportunity presented by the Minta and Minta Est projects.
Importantly, Lion Rock has met a key milestone under its acquisition agreements by achieving drilling results showing valuable heavy mineral mineralisation of 2% or greater over a minimum 4km strike length. This milestone triggers the issuance of 500 million fully paid ordinary shares to the vendors of the acquired entities holding the Minta Project, marking a major step in the company’s capital structure evolution.
Looking Ahead
Assay results from the current drilling program are expected during the first quarter of 2026 and will be critical to quantifying the grade and extent of mineralisation. Further infill drilling targeting high-grade residual zones and alluvial basins is planned to commence shortly, aiming to unlock the full scale of rutile and rare-earth potential at Minta.
CEO Casper Adson emphasised the significance of these developments, noting the smooth operational progress and strong community engagement. The company is positioning itself to become a key supplier in the rare-earths and titanium markets, leveraging its geological strengths and strategic partnerships.
Bottom Line?
As Lion Rock advances its Minta Est exploration and expands lab capacity, the market awaits assay results that will define the project's true value and potential dilution impact.
Questions in the middle?
- What will the upcoming assay results reveal about the grade and economic viability of the monazite and rutile deposits?
- How will the issuance of 500 million deferred shares affect Lion Rock’s share price and shareholder structure?
- What role will Tronox play in the development and potential off-take of rare-earth and titanium products from Minta?
