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Lion Rock Minerals Limited (ASX:LRM)

ALERT: Price-sensitive ASX Announcement for LRM
Current share price for LRM : $0.021 -0.008 (-26.32%)+
Announcement
Release
2 Jan 2026 1:04PM
Price at Release
$0.029
Full Release
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Summary
Lion Rock Minerals Limited is progressing with an infill drilling program at the Minta Est site, focusing on monazite-enriched granite. The confirmation of large monazite crystals in residual soils validates the strategy and supports plans for future development with partner Tronox. The company is enhancing its exploration capabilities by establishing a heavy mineral separation facility in Cameroon and expanding field and laboratory teams. Initial samples have been sent to Cape Town for analysis, with further drilling programs planned to target high-grade mineral zones.
Key Points
  • Infill drilling at the Minta Est monazite-enriched granite is progressing well with 285 holes drilled for 1,227 meters and samples in the laboratory for analysis.
  • Large, angular monazite crystals in residual soil drill holes confirm local source of monazite rare-earths, validating the exploration strategy.
  • Heavy liquid separation laboratory equipment is being sent to Yaoundé, Cameroon to expedite mineral separation.
  • The development of monazite rare-earths at Minta Est may support Lion Rock's strategic partner Tronox's supply chain strategy.
  • The first batch of 134 samples has been delivered to Scientific Services in Cape Town for analysis, with further samples in transit.
  • Expanded drilling capacity and a new in-country lab are expected to accelerate exploration.
  • Further infill drilling programs targeting high-grade residual zones and large alluvial basins for rutile, zircon, and monazite are scheduled for Q1, 2026.
  • The Minta Est infill program commenced in November 2025, targeting high-value assemblages of rutile, monazite, and zircon.
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.