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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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