Lanthanein Resources extends economic rare earths element footprint in Western Australia

Lanthanein Resources Ltd (ASX:LNR) is a mineral exploration company with a focus on the discovery of rare earth elements (REEs) in tier 1 mining jurisdictions of Western Australia and South Australia.

Lanthanein Resources Ltd is aiming to raise up to A$2.4 million (before costs) through a placement and a fully underwritten entitlement offer. The money will primarily support exploration at the Lyons and Edmund Projects in Western Australia’s Gascoyne region. 

Lanthanein has also proposed a corporate rebrand to Fortuna Metals Ltd and a 30:1 share consolidation, subject to shareholder approval.

Lanthanein has secured firm commitments to raise approximately A$274,909 before costs via a placement of 366.5 million shares at A$0.00075 per share. 

Inyati Capital Pty Ltd acted as lead manager and will receive a 6% fee plus 90 million options, exercisable at a 50% premium to the placement price and expiring four years from issue, subject to shareholder approval. Shares are expected to be allotted on or around 12 June 2025.

Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF) has reshaped its Western Australian exploration portfolio, turning its attention to gold and base metal potential at its Gascoyne tenements while streamlining other assets to optimise resources and exploration spend.

The company is conducting a detailed desktop review across the Lyons and Edmund projects in the Gascoyne region, targeting historical anomalies first identified by major mining houses during the 1980s and ‘90s.

Lanthanein Resources Ltd has intersected primary gold mineralisation at its Lady Grey Project in the Yilgarn region of Western Australia. The high-grade results come from diamond drilling targeting a high-priority modelled moving loop electromagnetic (MLEM) conductor plate under Line #1, coinciding with a strong gold-in-soil anomaly (256 parts per billion gold) and a key structural corridor. Notably, hole LGDH004 returned 4.1 metres at 1.35 grams per tonne (g/t) gold from 134.66 metres, including 1 metre at 3.66 g/t gold.

Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF) technical director Brian Thomas talked with Proactive’s Tylah Tully about the company’s key milestones in 2024 and exploration plans for the Lady Grey Project next year.

Thomas explained that Lanthanein shifted focus toward gold, copper and nickel potential at the Lady Grey Project after deprioritising lithium.

This pivot followed extensive soil sampling and geophysical surveys that revealed promising targets for drilling.