Many Peaks improves Odyssey REE continuity

Many Peaks Gold (ASX:MPG) has defined more than 800m of strike of greater than 5% total rare earth oxides (TREO) at its Odyssey Rare Earth Elements (REE) Project in Canada. 

The $10.37 million market capitalisation company reports that rock chip, channel sampling, and mapping work has improved the continuity of ‘high-grade’ REE across the Mann 2 prospect within Odyssey. 

Results from the Mann 2 prospect’s West zone include 6.3% TREO including 1.34% neodymium and praseodymium (NdPr) and 4.1% TREO including 0.85% NdPr. 

Meanwhile, results from the Mann 2 East zone include 5.8% TREO including 1.16% NdPr and 5.5% TREO including 1.16% NdPr. 

These ‘high-grade’ results have been collected from more than 140m width across sections of the Mann 2 trend. The Mann 2 mineralised corridor comprises 19 samples returning more than 4% TREO values within a 1.9km extent. 

Many Peaks Gold Executive Chairman Travis Schwertfeger says: “These new channel and surface sampling results are very exciting for not only confirming lateral extent of high-grade mineralisation style but also outlining significant size and bulk tonnage potential at the Odyssey REE Project, with multiple targets highlighted for follow-up work.”

“These new channel and surface sampling results are very exciting with multiple targets highlighted for follow-up work”

The company notes a third subparallel trend of mineralisation has been uncovered, with more than 1% TREO identified along more than 700m of strike length, north of the Mann 2 corridor. 

The Odyssey project lies in Labrador and Newfoundland province in eastern Canada — within the Red Wine REE district, which hosts numerous REE, niobium, and beryllium-related occurrences and mineral deposits. 

Many Peaks Gold is a gold and copper-focused exploration company with projects across Queensland. The company also has assets in Canada prospective for lithium and rare earths. 

As of 30 September 2023, the company had $2.4 million cash at hand, according to its latest quarterly report.

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Images: Many Peaks Gold
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.