The Conversation (0)
MTM Critical Metals (ASX:MTM) is geared to exploration success with its Pomme REE-Niobium Project and the newly acquired Montviel South REE-Nb project claims both demonstrating prospective geology and mineralisation, according to a report released by the Australian Independent Investment Research (IIR).
Montviel, a hard rock carbonatite deposit, is the most accessible undeveloped rare earth element (REE) deposit in Canada, and also the largest bastnaesite (a key REE-bearing mineral) deposit in North America. Additionally, the Pomme project recently revealed similar rock types and mineralisation with assays of up to 513 metres @ 0.33 percent total rare earths oxides (TREO), including higher grade zones of up to 26.5 metres @ 1.45 percent TREO.
“These styles of deposit are important sources of rare earths, albeit with most production from upgraded weathered zones in regions of deep weathering. However, with ongoing developments in metallurgy, we would expect economic cut-off grades to fall, bringing more undeveloped fresh rock deposits into play to feed forecast demand,” the report said.
IIR’s report stated the following key points:
- Prospective geology and mineralisation - this is not moose pasture: Pomme and Montveil South in particular a brownfields projects, however the work at East Laverton has demonstrated the prospectivity of the relatively poorly understood ground holdings.
- Ready access: All projects are readily accessible, without the requirement for expensive, helisupported activities. This includes year round access at Pomme, with drilling being feasible in winter.
- Continuing drive to renewables: Despite some periods of weakness, we see the drive to renewables to remain strong overall, and thus support the relevant sectors of the market.
- Experienced and committed Board and Management: The Board and Management have considerable experience in the resources sector; in addition insiders hold some ~13% of the stock, aligning their interests with other shareholders.
- Well geared to exploration success. With an EV of around A$1 million, MTM is well geared to exploration success.
To learn more about MTM Critical Metals, click here.
Click here for the full report from Independent Investment Research.
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