MTM increasingly confident it might be on to another ‘Mt Weld-like’ rare earths deposit…in Quebec
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Special Report: New zones of rare earths and niobium have been identified by MTM Critical Metals in a previously untested area at its Pomme project in Quebec.
MTM Critical Metals (ASX: MTM) confirms the latest round of diamond drilling results include up to 3.34% TREO mineralisation within broad intervals of significant mineralisation in a previously untested part of the carbonatite complex.
Pomme is adjacent to the 266Mt Montviel rare earths-niobium deposit owned by the TSX-listed Geomega Resources.
MTM has entered into a binding option agreement with Geomega to acquire 100% of the Pomme claims which host a known carbonatite intrusion enriched in rare earths, niobium and other critical minerals.
Carbonatite-intrusion rare earth deposits tend to host high grades and large tonnes. One notable example is the Mt Weld mine operated by Lynas Rare Earths (ASX: LYC).
Best intersections from the latest drilling included 20.3m @ 0.79% TREO and 0.03% niobium from 225m (including 1.6m @ 1.25% TREO and 0.06% niobium from 170.5m and 4.95m @ 1.26% TREO and 0.02% niobium from 181.85m) – as well as 47.5m @ 0.42% TREO and 0.05% niobium from 378m (including 6m @ 0.6% TREO and 0.06% niobium from 387m and 1.25m @ 3.34% TREO and 0.03% niobium from 419.5m).
Assays also confirmed that a significant proportion of the TREO grade contained high-value neodymium and praseodymium (NdPr) mineralisation.
MTM managing director Lachlan Reynolds said the latest drilling was completed in a previously untested area.
“Importantly, this hole also contains higher-grade zones that are the focus of our exploration drilling program,” he said.
“As has been observed in other areas at Pomme, mineralisation was intersected continuously in the bedrock, from beneath the transported glacial cover to the end of hole.“Our confidence in the extent of the mineralised system at the Pomme project increases as each new set of drill hole assays is received and we anticipate obtaining the results from the remaining six holes from the drilling campaign within the next month.”
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.