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MTM Critical Metals Limited (ASX:MTM) (MTM or the Company) has intercepted further significant TREO mineralisation in diamond drilling from holes POM-23-09, POM-23-11, POM-23-12 and POM- 23-13 at its Pomme REE-Niobium carbonatite project located in Québec, Canada.
Highlights:
- Latest diamond drilling results further confirm rare earth element (REE) and niobium (Nb) mineralisation over broad intervals in previously untested parts of the Pomme carbonatite complex.
- Hole POM-23-13 intersected 330m @ 0.34% TREO & 0.02% Nb2O5 (from 71.7m) including a number of zones greater than 0.6% TREO and locally up to 2.0% TREO.
- Hole POM-23-11 intersected 468.35m @ 0.29% TREO & 0.06% Nb2O5 (from 22.65m), including 74.75m @ 0.47% TREO & 0.06% Nb2O5 (from 252m).
- Assays confirm that a significant proportion of the TREO grade is high value magnet REE mineralisation - neodymium (Nd) and praseodymium (Pr).
- All assays now received for the Pomme diamond drilling program and modelling of results underway to plan follow-up work during the next field season in Quebec.
MTM Managing Director, Mr Lachlan Reynolds said the REE intersections from latest holes confirmed the very large mineralised system at Pomme:
“The most recently reported assay results finalise the wide-spaced drilling coverage of the Pomme carbonatite complex. The results confirm that rare earth and niobium mineralisation extends over almost all of the carbonatite target area, in excess of 2km2.
All of the principal assay results from the Pomme diamond drilling program have now been received. The Company will be using the time over the Canadian winter period to compile and assess these results, in order to identify the highest priority areas for follow-up and plan the field program for 2024.”
Drilling highlights
- POM-23-13:330.3m @ 0.34% TREO & 0.02% Nb2O5 from 71.7m, including:
- 9.0m @ 0.71% TREO & 0.02% Nb2O5 (from 84m) and
- 4.5m @ 0.74% TREO & 0.03% Nb2O5 (from 103.5m) and
- 4.5m @ 0.68% TREO & 0.10% Nb2O5 (from 130.5m)
- 10.5m @ 0.62% TREO & 0.03% Nb2O5 (from 267m)
- 7.4m @ 0.69% TREO & 0.01% Nb2O5 (from 363m)
- POM-23-11:468.35m @ 0.29% TREO & 0.06% Nb2O5 from 22.65m, including:
- 74.75m @ 0.47% TREO & 0.06% Nb2O5 (from 252m)
- POM-23-12:59.9m @ 0.23% TREO & 0.05% Nb2O5 from 19.6m, and:
- 498.5m @ 0.22% TREO & 0.09% Nb2O5 from 19.6m
- POM-23-09:230.55m @ 0.20% TREO & 0.06% Nb2O5 from 174m, and:
- 60m @ 0.23% TREO & 0.04% Nb2O5 from 459m
Figure 1: Drill status map of the Pomme project, showing current and historical drill hole locations overlain on simplified interpreted basement geology diagram.
The Pomme Project is located adjacent to the world-class Montviel REE-Nb deposit (owned by Geomega Resources Inc), that has a defined total indicated and inferred resource of 266 Mt @ 1.45% TREO & 0.14% Nb2O5.
The Pomme project is a carbonatite intrusion with very extensive mineralised drilling intersection results from recent drilling, showing enrichment in REE and niobium mineralisation over a broad area. MTM has entered into a binding option agreement with Geomega Resources to acquire a 100% interest in the Pomme claims.
Assay Results
Drill hole POM-23-13
Drill hole POM-23-13 was collared to test the north-western part of the Pomme carbonatite complex (Figure 1), angled to the west of the first drilling traverse. The hole mostly intersected mixed carbonatite and metasedimentary rocks. Nonetheless, mineralisation was persistently present in the drill core from near surface and broad zones of continuous REE mineralisation around 0.4% TREO were intersected throughout the hole, with local zones of higher-grade mineralisation up to ~2.0% TREO (see details in Table 1 and Appendix II).
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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 Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
