Lion Rock Minerals — Exceptional Rutile Up to 2.2% In-Situ at Minta; Rutile, Titanium and Monazite Story
- Noel Ong
- 1 day ago
- 7 min read
Announcement
Lion Rock Minerals Limited (ASX: LRM) has released first-pass mineralogy from the Minta Monazite & Rutile Project in central Cameroon (Figure 1), outlining broad zones of high-grade natural rutile from surface and near-surface. Results include up to 2.2% in-situ rutile and rutile making up to 71% of the heavy-mineral assemblage. With reconnaissance complete over a >5,000 km² target area and results received across ~3,800 km², the program now pivots to infill drilling supported by an in-country lab nearing commissioning in Yaoundé.
Figure 1: Map of Minta Project (source: LRM)
Highlights - The Ongoing Rutile, Titanium, and Monazite Narrative
(Figure 2)
In-situ rutile grades up to 2.2%, with rutile assemblage up to 71%. Eight of the top ten results occur at Minta Est (rutile, zircon, and REE-enriched monazite).
Standout intercepts (all in-situ): 4.0 m @ 1.3% from surface (MRAU0231); 3.9 m @ 1.2% from surface (MRAU0268); 5.0 m @ 1.0% from surface (MRAU0230); 5.0 m @ 1.0% from surface (MRAU0228); 6.8 m @ 0.9% from 1 m (MRAU0246).
Scale: Reconnaissance drilling across >5,000 km² (nominal 1 km × 10 km spacing); results to date cover ~3,800 km². 107 locations returned ≥0.5% in-situ rutile (avg 0.8%), with rutile averaging 22.8% of HM at these sites; 74 locations exceed 20% rutile in HM (avg 30.7%).
Operations ramp-up: Infill program imminent; LRM’s wholly-owned HM laboratory in Yaoundé is nearing completion (Figure 3); in-country technical team expanded (Country Manager Dr Tasin Godlove Bafon; Lab Manager Joseph Mayi).
Figure 2: Map of Minta insitu rutile with priority zones; Kasiya Project (ASX: SVM, Malawi) outline is a scale reference only. (source: LRM)
Lion Rock Chief Executive Officer, Casper Adson, commented:
“These latest results continue to reinforce the world-class potential of the Minta Monazite and Rutile Project and highlight Cameroon’s emergence as a significant new rutile province. The scale and grade of mineralisation being defined at Minta is exceptional, with insitu rutile grades of up to 2.2% from surface confirming the project’s potential as one of the largest undeveloped natural rutile systems globally.
“The recent investment of our strategic partner, Tronox, was driven by the rare-earth-rich monazite assemblage at Minta Est. This same area is now returning some of the highest rutile grades recorded to date, underscoring the exceptional mineral potential and complementary value of the deposit.
“With expanded drilling capacity, new in-country heavy mineral laboratory and an experienced technical team now established in Cameroon, Lion Rock is entering a transformational growth phase. The combination of scale, grade and strategic alignment positions the Company as it aims to become a leading supplier of premium natural rutile and critical mineral sands to the global titanium and rare-earths markets.”
Program Snapshot
Program design: Broad, fast coverage to rank higher-grade/value areas; initial paired XRF/XRD at 141 of 335 locations with >1.5% HM to expedite targeting amid external lab constraints.
Targeting outcomes: Clear infill targets at Minta Est (co-present rutile–zircon–monazite), plus additional contiguous high-grade zones circled in Figure 1. Results include mineralisation from oversize rutile nuggets.
Reconnaissance totals: 712 holes for 3,018 m; 3,339 drill & QA samples plus 68 grab samples collected. Further HM assays are pending; mineralogy will follow as assays return.
Market & Context (Rutile vs Synthetic Feedstock)
Titanium minerals are recognised as “critical/strategic” across major jurisdictions. Recent market commentary includes the suspension of Iluka’s Cataby mine and SR2 kiln from 1 December 2025 amid subdued mineral-sands demand and pigment oversupply; synthetic rutile (upgraded ilmenite) is more exposed to downstream costs and oversupply risk. Natural rutile—a high-TiO₂ feed needing minimal upgrading—has fewer value-chain dependencies. LRM positions Minta as a higher in-ground TiO₂ grade opportunity with potential processing simplicity. (Figure 2 is contextual; Minta has no current MRE.)
Figure 3: Global rutile projects based on public Mineral Resource Estimates (context only). (source: LRM)
In-Country Capability
LRM has strengthened its Cameroon presence with two key hires (Figure 4):
Country Manager – Dr Tasin Godlove Bafon: 12+ years in West/Central Africa (iron ore discoveries; scoping work), now leading project execution.
Lab Manager – Joseph Mayi: 6+ years running mining analytical ops; established mineral-sands labs and QA/QC programs; now leading Yaoundé lab build-out.
Figure 4: Photos of Dr Tasin Godlove Bafon & Joseph Mayi (source: LRM)
Operations are ramping up, with infill drilling imminent and LRM’s wholly owned heavy-mineral laboratory in Yaoundé nearing commissioning (Figure 5).
Figure 5: Photos of the LRM Yaoundé laboratory under construction and retrofit. (source: LRM)
Next Steps
Validate and prioritise highest-prospectivity areas; commence infill drilling.
Extend mineralogical analysis adjacent to standout results.
Finalise monazite & xenotime targeting at Minta Est; review VHM assemblage data; compile dredge study findings for alluvial targeting.
Commission the Yaoundé lab; complete recruitment to support expanded field ops and faster sample turnaround.
Samso Concluding Comments
On first pass, Minta ticks the two boxes that matter at this stage—scale and early quality. You’ve got insitu rutile reported up to 2.2%, rutile making up to 71% of the heavy-mineral assemblage, and several metre-scale intercepts starting at or near surface. That’s a credible signal for a reconnaissance dataset.
Minta appears to be broad with a 1 km × 10 km spacing across a >5,000 km² target, with results covering ~3,800 km² so far, with sites with >1.5% HM for the initial paired XRF/XRD to fast-track target ranking. The standout cluster at Minta Est—where rutile, zircon, and REE-bearing monazite coincide is making headline narrative.
The Yaoundé lab will take some of the risk off the table. Commissioning an in-country facility—backed by experienced hires in the Country Manager and Lab Manager roles—should cut turnaround times, improve QA/QC, and keep momentum as sample volumes rise through infill. The Company’s own wording highlights the expected lift in data quality for JORC-style work and metallurgy—exactly what you want before resource-class decisions.
The near-term items to watch are about the infill start-up, the return of outstanding HM assays, and follow-on mineralogy to tighten the model. Keep in mind there is no MRE declared for Minta today, and any external project outlines (e.g., Kasiya) are for scale only—useful context, not guidance.
Market Perspective - The Capital Market
This is a business that is all about Rutile, Titanium, and Monazite (REE), and as we are writing about these recent ASX releases, the share price of LRM has taken a turn for the worse. Figure 6 below shows a disconnect between market expectations and the technical merits that are being narrated by the management of LRM. Readers will know that Samso is a big fan of this story, and I am also a shareholder of the story.
Figure 6: The share price chart for Lion Rock Minerals as of the 14th November 2025. (source: CommSec)
It is more than interesting that there has been a sell-down, especially since the introduction of Tonox, which was covered on the 30th October 2025, "Tronox Joins Lion Rock: 5% Cornerstone to Accelerate Minta (Rutile + Monazite)". The sell-down pretty much started from that event. One would have thought that the introduction of Tronox would be a supportive indicator for the LRM story.
My conclusion is that there was profit-taking and a potential resetting of the support soon. That would be my only thought at this stage, which makes sense. For me, the story is still valid but with my experience, the real truth will not really be known till a later date, if it appears at all.
From a shareholder's point of view, the technical merit has not changed. The addition of Tronox is still a positive narration, and the inclusion of monazite adds value to the business overall. The sell-down is the one that is adding colour to the overall storyline, and the issue is how it is going to make the colour at the end.
There is no doubt in my mind that this is a #SAMSODYOR for those who are seriously invested in this story.
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