Chilwa Minerals Confirms 385m Continuous Niobium Hit at Nakombe, Malawi

Chilwa Minerals Drills 385 Metres of Continuous Niobium Mineralisation and the System Is Still Open

Chilwa Minerals Limited (ASX: CHW) has delivered one of the most compelling exploration results in its short listed history, confirming 385 metres of continuous niobium mineralisation from surface at drillhole MPYDD009 within its Nakombe target in Southern Malawi. The Chilwa Minerals Nakombe niobium drill results in Malawi extend the known mineralised footprint 180 metres north of the discovery hole and, critically, the system remains open in multiple directions and at depth.

This is not a routine drilling update. The scale of the intersection, the surface-to-end-of-hole continuity, and the geological controls that are now becoming apparent collectively point to a niobium system of genuine size and significance.

What MPYDD009 Confirmed and Why It Matters

Drillhole MPYDD009 was collared on the northern side of the interpreted intrusive body and directed south, intersecting alkaline syenite intrusive series rocks across its entire 385.4-metre length. Every metre of that hole returned niobium mineralisation.

The headline figure — 0.17% Nb₂O₅ over 385 metres from surface — is measured using in-house pXRF analysis on pressed pulverised pulp samples. Importantly, comparison of pXRF readings with ICP-MS laboratory assays from the adjacent discovery hole MPYDD006 showed that pXRF understates actual grades by approximately 17–22% at higher grade ranges. This means the numbers already reported are likely conservative, with laboratory confirmation expected to improve on them.

Key Intervals from MPYDD009

The upper 60.5 metres of the hole is hosted within a porphyritic syenite unit — the same rock type that hosts the higher-grade zones in discovery hole MPYDD006. The ability to trace this specific lithological unit between drillholes, and observe consistent grade enrichment within it, provides important geological confidence that the system has real structural and mineralogical controls, not random grade distribution.

"This is an outstanding result. 385 metres of continuous niobium mineralisation from surface is exceptional by any measure, and MPYDD009 materially extends the mineralised footprint at Nakombe to the north. Critically, the mineralisation starts at surface, runs the entire length of the hole, and remains open. With every hole we drill, the scale and significance of this Niobium system grows." — Managing Director Cadell Buss

Understanding the Discovery: The Nakombe Niobium System

To appreciate why the Chilwa Minerals Nakombe niobium drill results in Malawi are significant, it helps to understand the geological setting.

The Nakombe target sits within the Mpyupyu area of Chilwa's Lake Chilwa licence — a region underlain by the Chilwa Alkaline Province, one of the largest alkaline igneous provinces in sub-Saharan Africa. Niobium mineralisation at Nakombe is hosted within a peralkaline syenite intrusion — a body of igneous rock that was emplaced at depth and is now exposed and accessible from surface.

Why Does the Intrusive Geometry Matter?

What makes the Nakombe system particularly compelling from an exploration standpoint is its interpreted geometry. Based on drilling to date, geologists are interpreting a plug-to-pipe-like intrusive body plunging to the south or southwest. This geometry, if confirmed by ongoing drilling, has significant implications for the total volume of mineralised rock that could ultimately be defined.

MPYDD009 and MPYDD015 are being drilled as a scissors pair — collared on opposite sides of the interpreted body and directed toward each other at opposing azimuths — specifically designed to intersect the mineralised zone from reciprocal directions at depth. This deliberate technique helps define the geometry and true dimensions of the intrusion.

Total metres drilled at the Nakombe target has now reached 1,550 metres across eight drill holes, excluding the earlier holes at the northern shore of Nakombe stream that are believed to represent a separate intrusive body.

Geological Context: What Is Niobium and Why Is It Strategically Important?

Niobium (Nb) is a soft, grey metallic element almost exclusively used as an additive in high-strength low-alloy steels. Even in small quantities — typically less than 0.1% — niobium dramatically increases the strength, toughness, and weldability of steel, meaning less material is needed to achieve the same structural outcome. This makes it a critical input for construction, automotive manufacturing, pipelines, and infrastructure.

Niobium is also increasingly relevant in energy storage applications, particularly in niobium-based anode materials for lithium-ion batteries, where it offers faster charging characteristics compared to conventional graphite anodes.

Globally, Brazil dominates niobium supply, with a single producer — CBMM — controlling approximately 80–85% of world production. This extreme supply concentration means that any geographically diversified, large-scale niobium discovery attracts genuine strategic interest.

When reported as Nb₂O₅ (niobium pentoxide), grades are expressed as a percentage of the oxide form. To convert: Nb (ppm) × 1.4307 = Nb₂O₅ (ppm). Divide by 10,000 to express as a percentage.

Glossary of Key Terms

The Programme Ahead: Nine Holes Remaining, Two Rigs Turning

Chilwa is not slowing down. With two diamond rigs currently operating at the Nakombe target and a potential third under consideration, the pace of drilling is accelerating as the Southern Malawi dry season — historically the most favourable drilling period — approaches.

Upcoming Catalysts and Programme Milestones

The mineralised system currently remains open to the northeast, south, east, southeast, and at depth. With nine holes remaining in the initial programme, the primary objective is to constrain the geometry of the multi-phase intrusion and establish its lateral and vertical extent before advancing toward a maiden resource estimate.

Furthermore, the pending ICP-MS results for MPYDD007 and MPYDD009 are particularly significant. Not only will they confirm the niobium grades reported via pXRF, but they will also deliver the first full multi-element picture — including rare earth elements (REE), gallium, and tantalum — for the hole that extends the system to the north.

A Multi-Commodity Story Within a Single Licence

One dimension of the Chilwa story that deserves particular attention is the breadth of commodity exposure within a single contiguous licence in Southern Malawi.

Chilwa's Four Concurrent Programmes

The ionic clay REE programme is particularly noteworthy from a processing perspective. The style of mineralisation — rare earth elements adsorbed onto clay minerals within the weathering profile — is characterised by potential extractability using mild ammonium sulphate leaching, without energy-intensive processing.

In addition, the proximity of the Heavy Mineral Sands project to the niobium discovery means that Chilwa is not a single-commodity exploration story. It is, however, building toward a multi-commodity critical minerals position, all within one licence.

Why Investors Should Keep a Close Eye on Chilwa Minerals

The Chilwa Minerals Nakombe niobium drill results in Malawi represent a meaningful step-change in the scale of what Chilwa appears to have on its hands. Several factors combine to make this a situation worth monitoring closely.

1. Scale of the intersection is genuinely unusual. A continuous mineralised interval of 385 metres from surface, with no cut-off applied and niobium present throughout, is not a common exploration outcome. Discovery hole MPYDD006 returned 0.31% Nb₂O₅ over 126 metres — already a strong result. MPYDD009 has more than tripled the downhole width at a grade expected to improve once ICP-MS results arrive.

2. The system remains open. The mineralised footprint has been extended 180 metres north of the discovery hole, yet the target is still described as open in multiple directions and at depth. Current drilling is still defining the system's outer boundaries, not closing them.

3. Geological controls are becoming clearer. The identification of the porphyritic syenite unit as a consistent host to higher-grade zones, traceable between drillholes, adds confidence that this is a systematic, geologically controlled mineralised system.

4. pXRF results are likely conservative. Established comparisons between pXRF and ICP-MS for adjacent hole MPYDD006 showed pXRF understated grades by approximately 17–22% in the higher-grade range. With an R² of 0.99 on the whole-dataset correlation, there is high statistical confidence that ICP-MS results will confirm or improve upon grades already reported.

5. Multiple near-term catalysts. ICP-MS results for MPYDD007 are imminent, pXRF results for MPYDD015 follow shortly after, and nine further holes remain in the initial programme. Each represents a potential re-rating event as the system's dimensions become clearer.

6. Multi-commodity optionality. The niobium discovery sits alongside an existing JORC-compliant Heavy Mineral Sands resource, a systematic REE exploration programme across 47 geophysical anomalies, and an early-stage ionic clay REE programme — all within a single licence.

Near-Term Reporting Schedule and Market Impact

The reporting schedule for the Chilwa Minerals Nakombe niobium drill results in Malawi suggests multiple value-defining events over the coming months. ICP-MS results from MPYDD007 are expected within weeks, potentially providing the first laboratory confirmation of grades from the northern extension of the system.

The completion of MPYDD015 — the scissors pair companion to MPYDD009 — will deliver critical geometric information about the interpreted plug-to-pipe structure. If this hole confirms the geological interpretation and demonstrates similar grade continuity, it would substantially advance confidence in the system's overall dimensions.

With nine holes remaining in the initial programme, each targeting different aspects of the system's geometry and continuity, the market can expect a steady flow of results over the coming months. The Company's decision to consider a third rig indicates confidence that the target warrants accelerated definition drilling.

The timing coincides with ideal drilling conditions in Southern Malawi, suggesting minimal weather-related delays to the programme. For a discovery of this apparent scale, maintaining drilling momentum is crucial to defining the resource potential ahead of any formal resource estimation.

Key Takeaway: Chilwa Minerals has confirmed a niobium mineralised system at Nakombe that now spans 385 metres of continuous intersection from surface — and the full extent remains undefined. With laboratory assay results expected to exceed pXRF readings, nine drill holes still to come, two rigs actively turning, and a multi-commodity licence that extends well beyond niobium, the next several months represent a significant period of potential value definition for ASX: CHW.

All results cited are from pXRF analysis on pressed pulverised pulp samples and are indicative only. ICP-MS laboratory assays for MPYDD009 are pending. pXRF values have been shown to understate ICP-MS results by approximately 17–22% at higher grades based on comparison with MPYDD006. Results are not suitable for resource estimation purposes at this stage. All metres cited are downhole widths; true widths have not yet been determined.

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