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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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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.
