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Chilwa Minerals Ltd (ASX:CHW)

ALERT: Price-sensitive ASX Announcement for CHW
Current share price for CHW : $0.790 -0.04 (-4.82%)+
Announcement
Release
6 Aug 2026 8:13AM
Price at Release
$0.830
Full Release
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Summary
Chilwa Minerals Limited has reported significant progress in its Phase I reconnaissance sonic drilling at the Mpyupyu West heavy mineral sands (HMS) discovery in Southern Malawi. The drilling has consistently intersected mineralised, free-dig saprolite from the surface across the Mpyupyu West prospect. The target area covers more than 17 km² and adjoins the Mpyupyu Mineral Resource, which has been updated to 109.6 Mt. Drilling has confirmed the presence of a soft, free-dig saprolite blanket, averaging 7.3 meters thick, which supports low-cost mining. The current focus is on completing the 268-hole programme, with both sonic rigs deployed at this site while resource-definition drilling at Bimbi has been paused. No exploration results have been reported yet, as assays from the drilling are expected in October 2026.
Key Points
  • Drilling at Mpyupyu West intersects mineralised saprolite from surface.
  • Target area covers over 17 km² and supports low-cost mining.
  • Both sonic rigs are concentrated at Mpyupyu West.
  • Resource-definition drilling at Bimbi has been paused.
  • Completion of the 268-hole Phase I programme expected in late September 2026.
  • No exploration results reported yet; assays expected in October 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.