Kendrick Resources (LSE:KEN) has announced new portable X-ray fluorescence (pXRF) drilling results from three diamond drill holes at its Teufelskuppe rare earth project in Namibia, providing further evidence of extensive, shallow and continuous mineralisation within the carbonatite complex. The latest drilling identified near-surface total rare earth oxide (TREO) intercepts averaging approximately 2% to 3% by weight, supporting confidence in both the quality and continuity of the mineralised system.
Core samples from drill holes TKDD004 to TKDD006 have now been logged and submitted for independent laboratory analysis to verify the in-house pXRF results and support the preparation of a JORC 2012-compliant mineral resource estimate. Kendrick said the grades recorded place Teufelskuppe among the higher-grade rare earth projects globally, while the growing evidence of mineralisation at depth highlights the potential for further resource growth. The company believes the project could develop into an important source of rare earth elements for industrialised markets while contributing to Namibia’s mining sector.
The company’s outlook continues to be constrained by weak financial fundamentals, including the absence of revenue, recurring losses, negative cash flow and a balance sheet showing negative equity. However, technical indicators remain favourable, reflecting positive share price momentum. Valuation remains difficult to assess given the company’s lack of profitability and the absence of dividend payments.
More about Kendrick Resources PLC
Kendrick Resources PLC is a mineral exploration and development company focused on identifying, acquiring and advancing strategic mineral projects through exploration, technical evaluation and project development. The company’s leadership team has extensive experience across southern Africa, with rare earth interests including the Bonya Project in Namibia and the Blue Fox licence in north-west Zambia.
Kendrick’s strategy is to advance projects towards production through joint ventures, strategic partnerships or asset sales, with a focus on supplying critical rare earth minerals to global markets outside traditional supply chains. Its Teufelskuppe project in Namibia is emerging as a potentially significant source of light rare earth elements used in advanced manufacturing, clean energy technologies and defence applications.
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