MTM Critical Metals (ASX:MTM) has returned ‘high-grade’ total rare earth oxide (TREO) results over ‘significant’ widths at its Pomme Rare Earth Element-Niobium (REE-Nb) Project in Quebec, Canada.
The $4.35 million market capitalisation company reports assay results of up to 1.62% TREO from diamond drilling, including an interval of 26.5m @ 1.45% TREO and 0.02% Nb.
Rare earths and niobium mineralisation were confirmed over broad intervals, and ‘importantly’, numerous ‘higher grade’ zones of more than 1% TREO were intersected.
Commenting on the drill results, MTM Critical Metals Managing Director Lachlan Reynolds says: “Assay results from the recent drilling show the Pomme carbonatite complex contains abundant rare earth and niobium mineralisation that extends throughout the full length of the diamond drill cores and verify the historical REE-Nb mineralisation intersected in drillhole MVX-12-01.
“there are a number of significant higher-grade zones within the mineralised carbonatite, indicating significant potential for an economic resource of some scale”
Furthermore, there are a number of significant higher-grade zones within the mineralised carbonatite, indicating significant potential for an economic resource of some scale.
The consistent high percentage of NdPr and the presence of niobium are particularly pleasing and increase the mineralisation basket price for the prospect.
Our exploration team will be looking to undertake a thorough assessment and interpretation of geological logging and the assay results in order to define high-priority areas for follow-up exploration works, including drilling.”
MTM Critical Metals is an ASX-listed exploration company focused on rare earths, gold, lithium, nickel, and base metals in the Goldfields and Ravensthorpe districts of Western Australia and in the Abitibi region of Quebec.
As of 30 June 2023, the company had $2.56 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: MTM Critical Metals
