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MTM Critical Metals Limited (ASX:MTM) (MTM or the Company) is pleased to advise that the diamond drilling program at the Pomme REE-Nb project in Québec, Canada (Pomme or the Project) is progressing rapidly since work recommenced in mid-July 2023 following suspension of activities due to forest fires near the Project area. A further two drill holes (POM- 23-02 & POM-23-03) have been completed for a total of 744 metres of diamond drilling. The rig has been mobilised to a new pad and has commenced drilling the next hole (POM-23-04) which is already at 281 metres depth.
Highlights:
- Further diamond drill holes intersect visible rare earth element (REE) mineralisation within the Pomme carbonatite complex
- Three holes completed, drilling continuing on the fourth hole, to test for higher-grade REE-niobium mineralisation
- ‘Scissor’ hole confirms mineralised zone in the southwest corner of the target area at shallower depths
- New zones of REE mineralisation intersected in northwest part of the carbonatite complex – confirming that mineralisation extends more than one kilometre to the north of the historical drill holes
- Sampling for detailed assays in progress, first results anticipated in early August
The team on-site at Pomme report that visible REE mineralisation has again been intersected in the recent drill holes. Hole POM-23-02 in the west of the carbonatite complex appears to be dominated by magnetic silicocarbonatite rocks and is less well mineralised. However, hole POM-23-03, which is a ‘scissor’ hole oriented back towards the south has intersected visual REE mineralisation interpreted to potentially be the up-dip continuation of extensive mineralisation observed in the first hole of the program (see MTM ASX announcement dated 6 June 2023). Hole POM-23-04 has intersected significant zones of visual REE mineralisation in an entirely new part of the carbonatite complex which has not previously been tested.
Commenting on the ongoing drilling program, MTM Managing Director Lachlan Reynolds said:
“These latest drill holes from the Pomme project are starting to shape our understanding of the geology within the Pomme carbonatite complex and the distribution of the rare earth element mineralisation within it.
The work to-date has confirmed that mineralisation extends more than one kilometre to the north of the historical drill holes, indicating that it is a very big system. We are excited to be now testing new areas of the carbonatite complex in an effort to discover higher- grade mineralisation that could be a new REE resource.”
DIAMOND DRILLING PROGRAM UPDATE
A program of diamond drilling is continuing at Pomme after a delay due to forest fires near the Project area (see MTM ASX announcement dated 14 July 2023). Since re-mobilising, a further two drill holes have been completed in the southwest and west part of the Pomme carbonatite complex and another hole is in progress (Appendix 1, Figure 1). Drilling has been very rapid, principally because the carbonatites are relatively soft and easy to drill.
Figure 1: Diamond drilling status at the Pomme project showing historical and current diamond drill hole collar locations. Image is gridded airborne magnetic survey data (TMI, 1VD).
Figure 2: Cross section on line 389,100mE showing historical and current diamond drill holes and a schematic interpretation of intersected mineralised zones. Assays are still pending for the zones of visual REE mineralisation.
Hole POM-23-02 (Figure 2) was completed at a depth of 330 metres downhole (Appendix I). This hole was collared approximately 500 metres to the north of POM-23-01, which intersected in excess of 500 metres of visible REE mineralisation (assay results still pending). The hole principally intersected silicocarbonatite rocks containing low grade to trace mineralisation, mainly in veins and fractures (Appendix II, see Figure 3 below of core section). The silicocarbonatite was quite magnetic, corresponding to the observed anomaly on airborne magnetic images.
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This article includes content from MTM Critical Metals, 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.
MTM:AU
High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox Resources Limited, 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.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, 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.
