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Mt Monger Resources Limited (ASX:MTM) (Mt Monger or the Company) is pleased to provide shareholders with an update on the exploration program at the Pomme REE-Nb project in Quebec, Canada (Pomme or the Project). A diamond drilling program is expected to commence at the Project in May 2023 and the Company is rapidly advancing all activities to support the program.
Highlights:
- Drone magnetic survey of Pomme carbonatite intrusion commissioned
- Diamond drilling program to test REE-Nb mineralisation expected to commence in late May 2023
- Permit application for drilling finalised and lodged with Quebec MRNF
- Work approved by Cree First Nation of Waswanipi and Mineral Exploration Agreement in preparation
- Services Agreement completed with Kintavar Exploration Inc for management of exploration program
Managing Director Lachlan Reynolds commented:
“During a recent trip to Canada I was able to attend the Prospectors and Developers Association of Canada (PDAC) convention and to meet with a number of groups who will be important counterparties that can assist us as exploration at Pomme advances. I was also able to introduce the Company and our plans to the Mining Coordinator for the Cree First Nation of Waswanipi.
Detailed planning for the Pomme work program was completed with the Exploration Manager and Project Geologist from Kintavar Exploration, with whom we have entered into a Service Agreement and who will be managing the exploration activities on behalf of Mt Monger. We are very confident that together with Kintavar the Company can successfully get the work at Pomme underway effectively and as planned.”
POMME REE-Nb PROJECT
As recently announced, Mt Monger has entered into a binding option agreement to acquire a 100% interest in the Pomme REE-Nb project (the Project) located in Québec, Canada (Figure 1) from TSX.V listed Geomega Resources Inc. (Geomega) (see Mt Monger ASX announcement dated 23 February 2023).
The Project is a known carbonatite intrusion with exceptional results from limited drilling, showing enrichment in rare earth elements (REE) and niobium (Nb) and is considered to be an extremely prospective exploration target. The Project is located adjacent to the world-class Montviel REE-Nb deposit (owned by Geomega), that has a defined total indicated and inferred resource of 266 Mt @ 1.45% TREO & 0.14% Nb2O5.
The Company is now advancing exploration at Pomme to discover a REE-Nb resource and is well funded to undertake a comprehensive program of work following a $3 million share placement (see Mt Monger ASX announcement dated 28 February).
Figure 1: Location map of the Pomme Project in Québec, Canada.
DIAMOND DRILLING PROGRAM
A program of diamond drilling to provide a first-pass evaluation of the Pomme carbonatite complex has been planned. The program will involve approximately 10 diamond drill holes on a broadly-spaced (500m x 500m) grid (Figure 2) to evaluate the overall geology of the carbonatite intrusion and the grade and continuity of the REE-Nb mineralisation that it contains.
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This article includes content from Mt Monger Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
