MTM Critical Metals

Diamond Drilling At Pomme REE-Nb Project Identifies Widespread Mineralisation

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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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.

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THE Mining Investment Event of the North, Quebec City - June 4-6, 2024 Featuring Critical & Battery Metals Day, June 5

Opening Keynote Speaker: Sean Roosen, CEO & Chairman, Osisko Development Corp.
Special Sponsor: Government of Québec Premier Sponsor: Laurentian Bank Securities
Platinum/Critical Metals Day Sponsor: National Bank Financial Markets
Gold Sponsors: Stifel GMP, IBK Capital, O3 Mining
Silver Sponsors: PearTree Financial, TMX Group, Mi3 Financial
Copper Sponsors: Cassels, Crux Investor, Amex Exploration, Domco Group of Canada, INFOR Financial,
Out of the Box Capital, Centre des congrès de Québec, Global Business Reports, Brooks & Nelson
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