Lion Rock Minerals Limited (ASX: LRM) - A Critical Mineral Breakthrough in Cameroon: Rutile, Monazite, Zircon and Rare Earths Take Centre Stage.
- Noel Ong
- Aug 12
- 5 min read
Updated: Aug 19
Announcement
Lion Rock Minerals Limited (ASX: LRM), formerly known as Peak Minerals Limited (ASX: PUA) has confirmed a major expansion of heavy mineral (HM) mineralisation at its flagship Minta Rutile Project in Cameroon, with a 100% success rate from all 452 holes drilled (Figure 1). The program identified mineralisation across a vast 1,500km² zone, demonstrating scale and consistency in both residual and alluvial targets.
Figure 1: Mineralised zone at Minta Rutile Project nears 1,500km2. (source: LRM)
What makes Minta particularly exciting is the quality of its mineralogy. X-Ray Diffraction (XRD) results confirm that over 93% of the TiO₂ content is from rutile, affirming Minta’s rutile-dominant profile. (Figure 2). Even more promising are the by-products: monazite and zircon are present in notable quantities, with assemblages showing up to 73% monazite, 35% rutile, and 28% zircon. Rare earth content in the monazite is rich in high-value magnet elements like NdPr and DyTb, offering a broader critical minerals narrative for Lion Rock (Figure 3).
Figure 2: Locations of composites tested for mineralogical assemblage by XRD. (source: LRM)
Minta Est Reveals Valuable Rare Earth Assemblage - Monazite, Rutile and Zircon.
High-value monazite confirmed at Minta Est with in-situ grades of 0.5%–1.2% TREO from free-dig material.
Separated using conventional mineral sands processing methods, confirming development simplicity.
Exceptional mineral assemblages recorded:
Up to 73% monazite
Up to 35% rutile
Up to 28% zircon
Magnet rare earth distribution >25% MREO, including:
Up to 22.5% NdPr (light rare earths)
Up to 2.7% DyTb (heavy rare earths)
Figure 3: Separated monazite from RE1028 alluvial sample at Minta Est. (source: PUA)
Oversize Rutile Potential Yet to Be Accounted For
Rutile nuggets ranging from 1mm to 30mm in diameter have been identified across the Minta area. These were not included in the <1mm HM assay results. Their eventual inclusion could substantially lift the HM content, giving the current exploration upside yet to be realised.
Figure 4: Representation of mineral sand particles versus oversize particles images from sand and oversized particles are not from Minta area – only shown to demonstrate difference in particle size. (source: PUA)
Fully Funded for 2025 With Strategic $3.5M Placement
A European-based investor injected $3.5 million at $0.035/share—a 12-month high—under voluntary escrow. This funding ensures the company is fully financed for its 2025 work program, including targeted infill drilling, in-country test facility development, and general exploration expansion.
Additional Exploration Upside
While LRM is focused on Cameroon, it also maintains early-stage assets across uranium (Kitongo and Lolo Uranium Projects in Cameroon), kaolin (Yendon in Victoria), and Green Rocks (WA). The company is awaiting grant approvals for uranium exploration and has undertaken ongoing desktop work on its Australian assets. Notably, it relinquished the Earaheedy (WA) tenement during the quarter.
Samso Concluding Comments
As the Lion Rock Minerals story steadily moves ahead, I am learning that it is simply a mineral sands story that is focusing on rutile—the recent announcement is laying the foundation for understanding that the project is a mineral sands project that is now unfolding the potential mineral assemblages and hence the potential value-adding process. What this also means is that it is a multi-commodity critical minerals hub in Cameroon.
The June quarter results demonstrate a rare combination of geological consistency, mineralogical purity, and commercial foresight. The confirmation that over 93% of TiO₂ in the Minta samples is rutile is a material validation for downstream relevance in high-spec titanium markets.
What is becoming more apparent is what is the composition of the mineral assemblage—monazite, rutile, zircon—all recoverable through conventional mineral sands processing. These aren’t side notes; they form the basis of a diversified value proposition in both industrial and strategic supply chains. The rare earth content, with high NdPr and DyTb ratios, brings added weight in the energy transition narrative.
Strategically, the $3.5 million investment by a European investor reflects more than just capital injection—it’s market alignment. In a time when critical minerals are drawing geopolitical attention, such a placement at a 12-month high (with escrow) is a significant vote of confidence. It gives the company not only funding security but time to test, optimise, and scale its strategy.
From where Samso stands, this is potentially a company building a high-margin opportunity. The intersection of titanium, rare earths, and potentially ESG-friendly processing potential makes Minta more than a rutile project—it’s a multi-commodity critical mineral platform. The fundamentals are starting to stack up, and the next quarter will be one to watch.
Behind strong results are thoughtful decisions: from choosing the right geology to structuring funding on smart terms. For investors looking to position ahead of the curve, this is a story worth watching. Seek the research, follow the data, and keep an eye on Minta.
The Samso Way – Seek the Research
Understanding early-stage exploration stories like Peak’s means going beyond headline intercepts. It’s about scale, targeting strategy, funding strength, and leadership. At Samso, we follow explorers who build data-rich, geologically sound roadmaps toward discovery, and Peak Minerals is doing just that. Keep watching as the next assay sets come in and the drill rigs return later in the year.
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