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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) has been successfully completed, with a total of 13 holes drilled, for a total of 5,718 metres.
Highlights:
- Maiden diamond drilling program completed at the Pomme project, Quebec – 13 holes for a total of 5,718 metres.
- Visual REE mineralisation identified in all drill holes, indicating a very large mineralised system within the Pomme carbonatite complex, over a >2km2 area.
- Visual indications are that numerous zones of higher-grade rare earth element and niobium mineralisation intersected - most prospective parts of the complex to be followed up in future exploration campaigns.
- Drilling program has rapidly advanced geological knowledge of the Pomme carbonatite complex - preliminary interpretation suggests higher grade mineralisation best developed in ring structure surrounding a core zone.
- Several parts of the more favourable zone have not yet been tested by the drilling.
- Sampling and assaying in progress, results expected to be progressively released over coming weeks.
Drilling has continued to define widespread visible rare earth element (REE) mineralisation, which was reported from all drill holes and extends over an area of greater than two square kilometres within the Pomme carbonatite complex. Higher grade mineralisation appears to be spatially correlated with a ring of calciocarbonatite and ferrocarbonatite rock types which surround a ‘core’ of magnetic ultramafic carbonatite in the centre of the carbonatite complex. Several parts of this more favourable zone have not yet been tested by the drilling.
Geological logging and sampling of the diamond drill core is currently being finalised by the technical team on-site at the project. Drill core samples have been progressively submitted for detailed assays and results are expected to be progressively released over coming weeks.
Commenting on the ongoing drilling program, MTM Managing Director Lachlan Reynolds said:
“The maiden diamond drilling at Pomme by MTM has successfully identified mineralisation throughout the Pomme carbonatite complex and geologically we are starting to confirm details of the most prospective parts of the complex. Large areas remain untested by the reconnaissance drilling, which is currently on a very broad grid spacing of approximately 500m by 500m.
We are now keenly awaiting the detailed assay results, which we are confident will indicate numerous zones of higher-grade rare earth and niobium mineralisation. Our exploration strategy is to discover zones of about 1.5% or greater total rare earth oxide grade, similar to intercepts in the original drill hole that tested the carbonatite and the nearby Montviel deposit. These zones could and ultimately could form the basis to a significant resource.
Our exploration team will now commence work to merge the geological logs, assay results and geophysical data in order to define high priority areas for further follow up. The Company will also assess whether any zones of the mineralisation should be collected for preliminary metallurgical test work.”
Figure 1: Diamond drilling at the Pomme project in August 2023 (hole POM-23-13).
DIAMOND DRILLING PROGRAM UPDATE
The diamond drilling program which commenced at the Pomme REE-Nb project in May 2023 has been completed. A total of 13 diamond drill holes have been completed, for a total of 5,718 metres of drilling (Appendix I). Drill holes have been completed across the Pomme carbonatite complex, in order to test a number of geological, geochemical and geophysical exploration targets (Figure 2).
Visible REE mineralisation was observed in all the diamond drill holes, with variable abundance (Appendix II). As previously reported, the mineralisation, which is tentatively identified as the fluoro-carbonate minerals cebaite (Ba3(Nd,Ce)2(CO3)5F2) and/or bastnaesite ((La,Ce,Y)CO3F), plus monazite ((La,Ce,Nd)PO4).
The REE mineralisation is medium to coarse grained and has a very distinct colour that is easily distinguished in the drill core by the geologists on-site (Figures 3 and 4). Routine cross- checking of the drill core using a hand-held pXRF device has confirmed the presence of REE’s and niobium but this method does not effectively determine the grade.
The main distribution of REE mineralisation appears to be mainly associated with a ring- shaped zone of calciocarbonatite and ferrocarbonatite rock types (e.g. holes POM-23-01, POM-23-03, POM-23-04, POM-23-05, POM-23-09, POM-23-11 and POM-23-13) which surround a weakly mineralised ‘core’ of ultramafic carbonatite in the centre of the carbonatite complex (e.g. holes POM-23-02 and POM-23-08). The mineralised carbonatites have a weaker magnetic response, while the core is significantly more magnetic (Figure 2).
The ring of more strongly mineralised rocks contains variable grade zones and local intrusions of less mineralised carbonatite. Similarly, the core contains zones of better mineralised rock (e.g. hole POM-23-12, Figure 4), the extent and geometry of which have not been fully defined.
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MTM:AU
Unconformity Uranium Drill Targets Identified from 2024 Geophysical Data
Key Highlights
- Final data received and interpretation completed for the ground electromagnetic geophysical surveys from the winter 2024 program at the Marshall and North Millennium projects.
- Several conductive anomalies identified at Marshall, located above and below the unconformity, consistent with regional exploration model.
- Stacked anomalies concurrently with multigenerational geophysical data provides a base to assess the exploration targets and refine drillhole targets.
- The projects are located 15 kilometres from the majority Cameco owned Millennium deposit, and just 40km from the world class McArthur River mine.
- Basin remains funded for the next round of field exploration.
The ground electromagnetic successfully identified 3 main targets which confirms the geological and exploration model. Of note is Target 1 (Figure 1), where modelled EM plates below the unconformity align with a sandstone ZTEM anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting. Basin is currently reviewing options and priorities of how to progress exploration of these confirmed targets.
Basin’s Managing Director, Pete Moorhouse, commented:
“Conducting ground geophysical surveys on Marshall and North Millennium was a milestone in advancing these underexplored projects in Basin’s uranium portfolio. The form of these anomalies is highly encouraging given the proximity to some of the world’s largest uranium deposits.”
Key results
Following the encouraging conductive anomalism highlighted by the 2023 3D inversion of two historic airborne Electromagnetics (Z‐Tipper Axis) (“ZTEM”) datasets partially covering the current North Millennium and Marshall projects3,4, Basin contracted Discovery International Geophysics5 to carry out ground Stepwise Moving Loop Transient Electromagnetic (‘Ground EM’) surveys on areas of immediate interest within the Projects.
Figure 1 Three main anomalies shown from 2024 ground EM, in plan view (top diagrams) and cross- section looking northeast (bottom diagram). The ground EM anomalies are displayed with the modelled plates against the historical ZTEM data.
The 2024 Ground EM survey data returned six conductive anomaly picks producing three main target areas (Figure 1). The anomalies correlate strongly with the southern edge of the circular ZTEM conductive anomaly at Marshall and the interpreted northern edge of the circular anomaly identified in the historic data. A weaker EM pick was also interpreted centred between the two prominent ZTEM conductivity anomalies.
Three-dimensional modelling using Maxwell produced six electromagnetic conductive plates within the basement stratigraphy, all below the unconformity (Figure 1). The two southeastern plates are clearly aligning with a conductive sandstone ZTEM anomaly identified from the historic data, which is above the interpreted unconformity. This is interpreted as potential basal sandstone alteration proximal to the EM anomalies and constitutes a high-priority drill target area, refer figure 2.
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Airborne EM over Multiple Targets on Ti-Tree Project
- Augustus Minerals has contracted UTS Geophysics to conduct a VTEM Max survey over several Copper, Cu-Ni-PGE, Zn-Pb-Ag and Uranium targets along the money Intrusion and within proximity of the prospective 85k long Ti-Tree Shear.
- The surveys will cover:
- The Money Intrusion, prospective for Cu-Ni-PGE mineralisation.
- Copper Ridge and Nics Bore over anomalous Copper Drilling results
- The Coo Creek prospect where drilling by Augustus in 2023 identified strongly anomalous Zn-Pb-Ag mineralisation.
- The Munaballya Well North area which shows potential for economic Uranium mineralisation.
- The surveys will help to advance the untapped potential of the Ti-Tree project to host economic mineralisation of multiple commodities.
Andrew Ford, GM Exploration
“The VTEM survey will provide key targeting data over three highly prospective and different prospects with potential for multiple commodities. Whilst the high prospectivity for copper mineralisation has been well documented, the addition of uranium and Broken Hill base metal style mineralisation highlights the quality of the underexplored Ti-Tree project”.
VTEM
UTS Geophysics has been engaged to conduct a helicopter borne VTEM Max survey comprising 646-line km over three separate survey areas. The system is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity which helps map structure, alteration and rock type. The system also collects magnetic data through a caesium magnetometer. The transmitter/receiver loop is suspended on a cable approximately 40m below the helicopter (Figure 1).
Figure 1 VTEM Max helicopter deployed electromagnetic survey arrangement.
Figure 2 Prospects and VTEM Survey areas.
Money Intrusion
The Money Intrusion, which has proven potential to host Ni-Cu-Co-PGE (platinum group elements), is part of the regional Mundine Well Dolerite Suite, a regionally extensive dolerite (strike length >80km). This extensive mafic intrusion, which is comprised of a variety of lithologies, including gabbro in the core, olivine dolerite on the chilled lower contact or keel and fine-grained dolerite on the outer edges. Mapping, aeromagnetics and multi-spectral imagery show that the Money Intrusion within the Ti-Tree Project covers a strike length greater than 16km, reaching widths >600m in the north of E09/23241.
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Latest Kameelburg Assays Up To 10.38% Nb2o5 and 9.89% TREO
Highlights
- A total of 74 highly prospective rock samples recently collected from various beforsite and mafic dykes
- Most notable assays reveal up to 10.38% Nb2O5 and 9.89% TREO
- Large scale geological mapping of Kameelberg carbonatite is nearing completion
- Track access clearance & preparation for underground water supplies underway for upcoming maiden diamond drilling programme
Results from recently collected seventy-four (74) samples were received and highlighted the REE rich nature of the carbonatite with TREO(+Y) assays ranging from 1.16 to 9.89%, refer to Figure 1 for samples locations and Table 1 for results.
Figure 1: Southern Carbonatite Margin Geological mapping area with rock chip samples
Niobium Results Along Mafic Dykes
In addition to sampling the carbonatite plug, a further four (4) samples were collected across the Nb dyke zone on the southwest flank of the carbonatite. Results for these samples ranged from 5.44% to 10.38% Nb2O5. This provides additional confidence to previous niobium findings (see announcements dated 28 February 2024 and 27 December 2023). Table 2 compiles the Nb results with Figure 2 depicting recent sample locations in relation to the previous Nb2O5 results.
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This article includes content from Aldoro 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.