Chilwa Minerals to kick off maiden drilling program at Mposa in Malawi

Recently-listed Chilwa Minerals (ASX: CHW) is on target to undertake its maiden drilling program at its high class Mposa Main heavy minerals project area in Malawi.

The company is looking to expand on the existing inferred resource of 19.4 million tonnes of heavy mineral sands at 4.3%, containing 0.83 million tonnes of total heavy minerals (THM) at a 1% THM cut-off grade at Mposa.

Current planning is well advanced to kick-off drilling at Mposa early in the third quarter.

The drilling program design is for a campaign of approximately 6,000 metres with the potential to extend that if results necessitate.

Plenty of upside

Chilwa listed on the ASX in early July with a strategy to fast-track the expansion of the existing aggregate inferred mineral resource across all deposits of 61.6 million tonnes of heavy mineral sands at 3.9% containing 2.4 million tonnes of THM at 1% cut off grade.

Based on historical drilling results, the company nominated Mposa as the preferred location for the initial drilling activities as it is estimated to contain the largest single deposit of all the targets at the Chilwa mineral project at around 35% of the total.

To date, 340 holes at an average hole depth of only 6.23m has been carried out at Mposa, with the shallowest hole at only 2m and the deepest 11m.

Chilwa believes the nature of past drilling provides it with an ideal starting point for twinning and infill drilling.

WA assay firm contracted

The company is confident it can also obtain improved assay results as it feels previous studies displayed abnormally high slimes content which may have been caused by incorrect historical assay work.

The company has called in an experienced Western Australia firm to assess the historical issues by undertaking the assay studies for the new drilling program.

A major focus of the company’s upcoming drilling program is to obtain an improved understanding of the deposit including the depth of mineralisation, with the aim of potentially re-examining the size of Mposa, while building associated confidence levels for the existing inferred resource.

Listing success in July

In early July Chilwa listed on the ASX following a successful $8 million IPO capital raising, which was well supported by a mixture of institutional and private investors.

Multinational group Luso Global Mining, a subsidiary of the Mota-Engil Group, held a 30.6% stake in the company on listing.

IPO funds have been targeted at growing the Chilwa heavy minerals sands project which surrounds the northern, western, and southern parts of Lake Chilwa.

Mposa is one of four initial drill targets identified for follow-up, with the company also looking to test Halala, Bimbil and Mpyupyu.

Extension to be tested in future

The company also revealed plans to commence exploration at a newly acquired extension upon completion of the initial drilling activities.

The extension was identified through the completion and interpretation of magnetic and radio metric survey data.

Malawi hosts a number of other ASX listed mineral exploration companies, including Lindian Resources (ASX: LIN) and Sovereign Metals (ASX: SVM).

Chilwa’s newly acquired southern tenement extension also directly abuts the ground of TSXV listed Mkango Resources.