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MTM Critical Metals Limited (ASX:MTM) (MTM or the Company) is very pleased to report that over 500 metres of visible REE mineralisation has been intersected in the first diamond drill hole completed at the Pomme REE-Nb project in Québec, Canada (Pomme or the Project). Assay results are pending and expected within approximately 4 to 6 weeks.
Highlights:
- Visible rare earth element (REE) mineralisation identified in drill core
- Mineralisation verified using handheld XRF
- 500+ metre intersection of variably mineralised carbonatite, open at depth
- Sampling for detailed assays in progress, with results expected within 4 to 6 weeks
- First of a 10 hole, 5,000 metres first-pass program to test the Pomme carbonatite complex and the known REE-niobium mineralisation.
Commenting on the completion of the first drill hole, MTM Managing Director Lachlan Reynolds said:
“We are extremely excited by the results of this first diamond drill hole. Not only has it intersected prospective carbonatite rocks but it also appears to be continuously mineralised over a 500+ metre interval and based on the visual estimates may contain a number of zones containing significant REE grade.
This hole is a vindication of our confidence that this drilling campaign at the Pomme project could have potential for making a major new rare earth element and niobium deposit discovery. We are now eagerly waiting in the results of assays and getting samples to the laboratory in Canada is a high priority. Drilling is ongoing and the second hole is underway.
The Kintavar Exploration team managing the exploration program on-site are congratulated for delivering this excellent result, which comes only 3 months after signing the option agreement over the project.”
DIAMOND DRILLING PROGRAM
A program of diamond drilling was recently commenced at Pomme (see MTM ASX announcement dated 26 May 2023). The first drill hole of that program, POM-23-01 (Figure 2), was subsequently completed at a depth of 558 metres downhole (Appendix I). This hole was collared approximately 100 metres to the north of a historical drill hole MVX-12-01 that also intersected in excess of 500 metres of REE-Nb mineralisation.
Figure 1: Diamond drill rig operational on hole POM-23-001 at the Pomme project, May 2023.
Figure 2: Diamond drilling status at the Pomme project showing historical and current diamond drill hole collar locations.
POM-23-01 intersected 31.75 metres of unconsolidated glacial sediments (till) at the top of the hole and then cored carbonatite rocks to the end of hole (EOH). The carbonatites show significant variation in lithology, including calciocarbonatite, ferrocarbonatite and silicocarbonatite (Appendix II). The carbonatites are open to depth beyond the EOH.
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