Kesya Rare Earths Project

90 km

South of Lusaka, Zambia

1,053 ha

Drilling program and geophysical programs

51% Interest

Progressively acquire and potentially up to 85% interest

Q3 CY2023

Planned Drilling Date

The Kesya Rare Earths Project consists of a highly prospective, intrusive carbonatite complex within a licence area of 1,053 hectares. Located near the town of Kafue in southern Zambia, the project area is approximately 90km from Lusaka, the Capital of Zambia.

In May 2023, Prospect announced that it had acquired an option which, subject to the satisfaction of conditions precedent, delivers it the right to earn a 51% interest in the Kesya Project.

The rare earth element (REE) mineralisation defined at Kesya is contained within monazite and bastnaesite and is strongly and consistently enriched in neodymium and praseodymium oxides (NdPrO) that average 29% of the basket of rare earth oxides.

Previous exploratory work was undertaken in 2021, directly targeting surface outcrop extent of the Kesya carbonatite intrusion. Results from rock chip surface sampling returned exceptionally consistent and highly anomalous rare earth oxide assays with values of up to 0.66% total rare earth oxide (TREO) contents along with low levels of uranium and thorium.

Kesya offers outstanding prospectivity to deliver a significant new discovery for Prospect, expanding the battery minerals focus and footprint in sub-Saharan Africa.

High-value rare earth mineral resources (containing appreciable NdPrO contents like Kesya), are recognised globally as critical inputs in alloys for the manufacture of strong permanent magnets used in powerful motors contained in key decarbonisation drivers such as wind turbines, electric vehicles, and high-speed rail (HSR) passenger trains.

The maiden diamond drilling program at Kesya is anticipated to commence in Q3 2023.

Location Map for Kesya Rare Earth Project tenement in Zambia

Photograph showing the northern extent of the REE prospective Kesya Carbonatite Complex

Map for Kesya Licence and rock chip sampling results showing total rare earth oxide content

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