Kendrick Resources PLC
24 July 2026
24 July 2026
Kendrick Resources Plc
("Kendrick" or "the Company")
Teufelskuppe - New Drill Results
Teufelskuppe Delivers Further High-Grade REE Drill Results, Reinforcing Shallow Mineralisation and Strong Continuity
Kendrick Resources Plc is pleased to announce further highly encouraging portable X-ray fluorescence analytical results from diamond drill holes TKDD007 to TKDD010 at the Teufelskuppe ("TK") Project. The latest results confirm high-grade rare earth element ("REE") mineralisation over substantial widths within the TK carbonatite complex, adding to the Company's confidence in the scale, quality and near-surface potential of the project.
The programme continues to identify broad zones of continuous, near-surface mineralisation, with light rare earth oxide ("LREO") grades typically ranging from 2.5 to 3.5 wt% LREO across extensive areas associated with the eight dykes and sills that comprise the TK complex. The consistency of grade, continuity and tenor remains a defining feature of the Complex and highlights the potential significance of its LREO mineralisation.
Highlights
· Drill hole TKDD010 delivered a strong downhole sequence of high-grade intercepts, including 2.50 wt% LREO over 26m from 70m and 3.15 wt% LREO over 15m from 101m, 3.5 wt% LREO over 4m from 14.5m, 3.45 wt% LREO over 5m from 32.25m and 2.65 wt% LREO over 7.25m from 44.75m.
· Drill hole TKDD0091 returned a notable intercept of 3.25 wt% LREO over 17m from 27.75m, including a higher-grade internal interval of 4.04 wt% LREO over 9.5m from 35.25m.
· Drill hole TKDD007 returned a broad near-surface intercept of 1.52 wt% LREO over 32.75m from surface.
· Drill hole TKDD008 achieved intercepts of 1.60 wt% LREO over 1.75m from 3.0m and 2.02 wt% LREO over 1.5m from 10.25m.
Colin Bird, Chairman of Kendrick Resources, commented:"Continuity of mineralisation over impressive mineralised widths and associated excellent grades remains a key feature of the TK carbonatite complex. We will continue drilling with three rigs with the aim of generating sufficient data to produce a mineral resource estimate for TK in the shortest possible timeframe. The ability to rapidly establish the mineralised widths and extent of individual sills and dykes using the reverse circulation drill rig provides a high level of precision to position the two diamond drill rigs to provide the detailed geological information required to build out the resource and improve our understanding of the mineralising system. We will continue to regularly update shareholders with drill data as it becomes available".
|
Borehole ID |
From (m) |
To (m) |
Width (m) |
Grade (wt% LREO) |
|
TKDD010 |
14.5 32.25 44.75 70.0 101.0 |
18.5 37.25 52.0 96.0 116.0 |
4.00 5.00 7.25 26.0 15.0 |
3.50 3.45 2.65 2.50 3.15 |
|
TKDD0091 Including Including |
27.75 32.25 35.25 29.75 31.75 40.0 |
44.75 34.0 44.75 45.0 33.75 43.75 |
17.0 1.75 9.50 15.25 2.00 3.75 |
3.25 3.54 4.04 2.39 3.31 3.05 |
|
TKDD007 |
0.00 |
32.75 |
32.75 |
1.52 |
|
TKDD008 |
3.00 10.25 |
4.75 11.75 |
1.75 1.50 |
1.60 2.02 |
Note 1 - Drill rods became stuck in the hole at a downhole depth of 47m and the hole was redrilled from the same collar position and hole with a wedge inserted to divert the drill rods from 29m depth. This resulted in a second sub-parallel intercept returning a grade of 2.39 wt% LREO over 15.25m from 29.75m including internal intercepts of 3.31 wt% over 2m and 3.05 wt% LREO over 3.75m.
ENDS
For additional information please contact:
|
Kendrick Resources Plc: Chairman |
Tel: +44 2039 616 086 Colin Bird |
|
AlbR Capital Limited Financial Adviser Joint Broker |
Tel: +44 (0)207 7469 0930 David Coffman / Dan Harris Jon Bellis |
|
Shard Capital Partners LLP Joint Broker |
Tel: +44 207 186 9952 Damon Heath / Isabella Pierre |
About Kendrick Resources Plc
Kendrick Resources Plc is a mineral exploration and development company whose strategy is to acquire and enhance the value of its mineral resource projects through exploration, technical studies and resource development and to bring projects to production through joint venture or other arrangements or their sale.
The Kendrick Board has extensive resource project experience in southern Africa and has gravitated back to the region with the acquisition of the Bonya Rare Earth Project located in Namibia and in late 2025 exercised an option in relation to the acquisition of the Blue Fox Licence, 34412-HQ-LEL located in northwest Zambia.
About Teufelskuppe:
Development Plan Progress
The Company is progressing the TK project in line with the published Development Plan schedule announced on 6 May 2026. Verification of the in-house MRE and upgrading to compliance with JORC (2012) has been initiated alongside the still progressing diamond drilling and reverse circulation drilling campaign to ascertain the depth and sub-surface spread of carbonatite mineralisation below the natural surface profile of the TK landscape.
Economics and Markets
The predominant rare earths of economic value in the TK complex are light elements in the order Ce>La>Nd>Pr, with neodymium (Nd) and praseodymium (Pr) together providing an average 25% (by wt) of the ca. 3% wt% rare earth pool. HREO's average 0.15 wt% across surface and deeper carbonatites. These grades continue to position the TK carbonatite complex in the upper quartile on a global scale compared with the major producers of rare earths elsewhere (Center for Strategic and International Studies, January 2026).
Rare earths are critical to specific modern technologies where no effective substitutes exist. Sustained demand for super magnets in electronics, renewable energy, and electric vehicles continues to push prices upwards and manufacturing need shows no sign of slowing. The global metals market is valued at approximately $18.2 billion with a Compound Annual Growth Rate (CAGR) of 7.6% (Intnl. Energy Agency, 2026). The present trends are further underpinned by demands for rare earths used in defence systems, medical imaging, telecommunications and advanced visual displays. All these sector demands underpin the commercial potential of the TK project.
Diversification of market supply to meet increasing manufacturing need is a recognised priority for most industrialised nations and international partnerships are being formed to diversify and protect supply chains for key industrial sectors, and to safeguard against supply disruptions (Fortune Business Insights, 2026)
The Company is entirely focused on ways in which the development of TK can address the needs of free-market economies and to the benefit of all stakeholders including Namibia, the host nation.
Near-Term Development Plan for TK
The Company is advancing JORC-2012 certification of the provisional and visible 14Mt surface mineral resource estimate for TK as announced on 11 May 2026. Recent drill results further underpin the confidence that these surface resources are only a modest fraction of the mineable total as indicated on 15 May 2026. Channel data, when tied-in with the results from boreholes provide ever-increasing certainty of both lateral continuity in surface rare earth mineralisation and the continuation of REE-rich resources at mineable depths well below the natural desert land surface.
The Company projects a much larger resource for the overall project than is known at this time. Drill data is showing sub-surface geo-continuity thus offering a potentially significant resource upside.
TK is developing into a prospective new source of commercial rare earth production for free-market economies and industrialised nations, and the combination therein of 59 Pr and 60Nd remains the economic cornerstone of the Project. Development through to production will enable Namibia to realise and secure one of the largest newly recognised rare earth deposits in the world for defence and advanced technologies.
The nearby presence of other intrusive carbonatites at Kieshohe, together with a defined in-house (non-JORC) Mineral Resource and established access and infrastructure, positions TK as a near-term development opportunity with exciting potential.
Glossary:
Carbonatite: An igneous rock containing >50 modal % primary (magmatic) carbonate and ≤20 wt% SiO2. There are three main types: Calcitic (calcio) carbonatites, magnesiocarbonatites and ferrocarbonatites. Occur as lava flows and more commonly as intrusions.
Carbonate: Common minerals containing the carbonate anion (CO32-) for example calcite (CaCO3), dolomite (CaMg(CO3)2, siderite (FeCO3) and Ankerite Ca(Fe,Mg,Mn)(CO3)2.
Cone sheet: A type of ring intrusion with margins which dip inwards.
Ferrocarbonatite: A carbonatite in which the main carbonate mineral is iron-rich, for example, ferroan dolomite, ankerite or siderite.
Fluorcarbonates: A group of minerals consisting of variable calcium, high fluorine, and rare earth elements. Examples are Synchysite and Parisite.
MRE: Mineral Resource Estimate
Parisite: A group of fluorcarbonates with typical mineral formula Ca(Ce/La/Nd/REE)2(CO3)3F2.
JORC 2012 Mineral Resource Code: The Australian Code for Reporting Exploration results, Mineral resources and Ore reserves. Enforces minimum standards and guidelines for public reporting of mineral resources and ore reserves. Classifies mineral resources into Inferred, Indicated and Measured based on the level of geological confidence regarding the quality and quantity of the resource.
Petrological studies: the study of the formation of rocks, subsequent deformation and alteration. Quantification of mineral composition and mineral relationships.
REE : Rare Earth Elements. Elements with an atomic number between 57 and 71 plus Scandium and Yttrium.
TREE: Total Rare Earth Elements; sum of LREE and HREE to a total of 17 elements.
LREE: Light Rare Earth Elements including Lanthanum (La), Cerium (Ce), Neodymium (Nd), Praseodymium (Pr), Scandium (Sc), Samarium (Sm) and Europium (Eu) and Promethium (Pm).
HREE: Heavy Rare Earth Elements including Yttrium (Y), Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy), Holmium (Ho), Erbium (Er), Thulium (Tm), Ytterbium (Yb) and Lutetium (Lu).
LREO: Light Rare Earth Oxides including La2O3, CeO2, Nd2O3, Pr6O11, Sc2O3, Sm2O3, Eu2O3.
HREO: Heavy Rare Earth Oxides including Y2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3 and Lu2O3.
TREO: Total Rare Earth Oxides.
Wt % = Weight Percentage
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