East Laverton Project Soil Survey Defines Extensive New Rare Earth And Nickel Targets

MTM Critical Metals Limited (ASX:MTM) (MTM or the Company) has identified several new broad REE anomalies at the Point Kidman prospect, and further nickel anomalies at the Seahorse prospect, at its East Laverton Project in Western Australia after completing an extensive surface geochemical sampling program in August.

Highlights:

• Broad rare earth element (REE) anomalies expand zones of potential clay-hosted mineralisation to more than 200km2 at the Point Kidman prospect in the project’s north.
• Further anomalous nickel results extend laterite nickel targets at the Seahorse prospect in the project’s south.

“Point Kidman is proving to have district-scale, clay-hosted REE mineralisation potential with numerous kilometre-scale, coherent REE anomalies defined over a prospect area covering a total area in excess of 200km2,” Mr Reynolds said.

“Previous aircore drilling of anomalous areas have indicated the presence of significant thicknesses and grades of clay-hosted REE¹ which are interpreted to be related to fertile basement granite and granite-gneiss rocks that have a preserved weathering profile.”

Mr Reynolds said promising nickel results had also been returned at the Seahorse prospect.

“The sampling results at Seahorse show that there are coherent anomalies which are prospective for nickel mineralisation located several kilometres to the west of where the Company has previously drilled lateritic nickel mineralisation².

“We now have plans to drill these new REE and nickel anomalies at East Laverton with the aim of revealing additional zones of similar mineralisation,” he said.

The geochemical sampling comprised around 3,400 samples collected on a grid spacing of 200m x 1,000m at the Point Kidman REE prospect, and 200m x 400m at the Seahorse nickel prospect.

Figure 1: Location map of prospects at the East Laverton Project.

Figure 2: Gridded image of Total REE surface geochemistry results showing the location of soil samples and drilling at the Point Kidman prospect.

Figure 2 shows that the recent sampling has highlighted a number of new large, coherent REE anomalies (red colours) across the Company’s tenement areas at Point Kidman, identifying major target zones for additional REE mineralisation. The majority of these areas are untested by any previous drilling.

Figure 3: Gridded image of Nickel surface geochemistry results showing the location of soil samples and drilling at the Seahorse prospect (overlaid on TMI magnetic image).

The newly identified nickel anomaly at the Seahorse prospect (Figure 3) extends over an area of 2km x 2km, indicating that there are likely to be further ultramafic units within the bedrock gneisses. These units may have also developed laterite nickel mineralisation, similar to the area drilled by MTM several kilometres to the east.

Click here for the full ASX Release

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.