MTM Critical Metals

Quarterly Activities/Appendix 4C Cash Flow Report

The directors of Mt Monger Resources Limited (ASX:MTM) (MTM or the Company) are pleased to provide shareholders with the quarterly report on the Company’s exploration activities for the period ending 31 March 2023.


Highlights:

  • Company completed an Option to acquire 100% interest in Pomme REE-Nb project claims located in Québec, Canada
    • Confirmed carbonatite-hosted rare earth element (REE) and niobium (Nb) mineralisation
    • Two reconnaissance diamond drill holes completed in 2012 contain highly significant, exceptionally thick mineralised intersections
    • Mineralisation contains elevated NdPr and significant proportions of both magnet REE and critical REE
    • Located only seven kilometres from the world-class Montviel carbonatite REE-Nb deposit owned by Geomega Resources Inc.
    • Excellent infrastructure - existing road access, local services and proximity to hydro-electric grid
    • Access to an existing geological team with history of work at the Montviel deposit and expertise in managing exploration in the area
    • Existing arrangements with local First Nations community
    • Drone magnetic survey commissioned
    • Diamond drilling permitted and expected to commence in May 2023
  • Extensive aircore and RC percussion drilling program completed at the East Laverton project:
    • Further evaluation of clay-hosted rare earth element (REE) mineralisation at Pt Kidman prospect area
    • First-pass drill test of nickel and gold targets at Seahorse prospect area
  • Two-tranche, $3 million placement undertaken to fund diamond drilling and associated metallurgical work at Pomme REE-Nb project

During the reporting period the Company announced that it has entered into a binding option agreement to acquire a 100% interest in the Pomme REE-Nb project (the Project) located in Québec, Canada from TSX.V listed Geomega Resources Inc. (Geomega). The Project is a known carbonatite intrusion with exceptional results from limited drilling, showing enrichment in rare earth elements (REE) and niobium (Nb) and is considered to be an extremely prospective exploration target and a compelling opportunity for the discovery and future delineation of a REE-Nb resource.

An active work program was also undertaken at the East Laverton project in Western Australia, where an extensive aircore drilling program was completed to evaluate clay-hosted REE mineralisation at the Pt Kidman prospect; and to provide a first-pass test of nickel and gold targets at the Seahorse prospect area.


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.

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