Best Pomme results you’ll read today: MTM drives deep through cover for rare earths in Quebec

MTM has come out of a trading halt to announcing new assay results from its Pomme REE project in Quebec
The results confirm the high grade, high tonnage potential of the project
Further field work at Pomme planned beyond the Canadian winter

Special Report: MTM Critical Metals has drilled into significant rare earths and niobium at its Pomme project in Quebec, adding weight to expectations it is onto something large and potentially high grade like its Canadian neighbour.

That neighbour is Geomega Resources, which owns the advanced 266Mt Montviel carbonatite REE-Nb deposit, just 7km away.

MTM, formerly known as Mt Monger Resources, acquired the Pomme rare earths-niobium exploration project in February last year for $1m in cash and shares and believes the carbonatite intrusion geology is very similar to Montviel’s.

Before MTM, the Pomme site was highly underexplored –perhaps a bit puzzling, seeing as the only two holes drilled back in 2012 returned thick zones of REE-Nb mineralisation.

Leading into these latest results, highlighted below, MTM’s 13-hole drill program had already returned thick, promising hits, including 398m at 0.54% TREO (5,400ppm) and 0.05% Nb₂O₅ from 16m.

MTM Critical Metals (ASX:MTM)

MTM’s latest Pomme hit

MTM has today revealed its latest diamond drilling results have hit rare earth element (REE) and niobium (Nb) mineralisation over broad intervals in previously untested parts of the Pomme carbonatite complex.

The chief highlight came from hole POM-23-13, which intersected 330m at 0.34% TREO & 0.02% Nb₂O₅ (from 71.7m) including a number of zones greater than 0.6% TREO and locally up to 2.0% TREO.

Additionally, POM-23-11 hit 468.35m @ 0.29% TREO & 0.06% Nb₂O₅ (from 22.65m), including 74.75m @ 0.47% TREO & 0.06% Nb₂O₅ (from 252m).

Notably, the company says that a large amount of that TREO grade is “high value magnet REE mineralisation” – neodymium (Nd) and praseodymium (Pr).

MTM Critical Metals (ASX:MTM)

MTM’s MD, Lachlan Reynolds, believe the REE intersections from latest holes confirm the very large mineralised system at Pomme.

“The most recently reported assay results finalise the wide-spaced drilling coverage of the Pomme carbonatite complex,” he says.

“The results confirm that rare earth and niobium mineralisation extends over almost all of the carbonatite target area, in excess of 2km².”

What’s next?

With all principal assay results from the Pomme diamond drilling program now received, MTM says it will be using the time over the Canadian winter period to compile and assess the results.

From that it should be able to identify the highest priority areas for follow-up work and plan its next steps for 2024 field program.

Ahead of today’s announcement, the sub-$10m capped stock had delivered a spate of positive recent news including a raise of $1m via convertible notes to institutional investors in November.

It also acquired a West Arunta niobium-REE project in WA, which also helped the share price move in the right direction. That’s land prospective for mineralised carbonatites and is adjacent to WA1 Resources (ASX:WA1) and Encounter Resources (ASX:ENR).

This article was developed in collaboration with MTM Critical Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.