Chilwa Minerals (ASX:CHW) said the assessment of 11 geophysical anomaly zones at the Chilwa critical minerals project in Malawi revealed the presence of niobium and rare earth elements across all of the targets and warrant further soil sampling and potential drilling, according to a Monday Australian bourse filing.
It added that the element responses and their grouping could potentially represent a significant mineral system within the Chilwa Minerals tenements.
The remaining 36 priority rare earth element targets are currently being assessed with soil sampling, it added, with results expected within the first quarter.
Its shares rose 6% on market close.
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