Pomme Project Drilling Identifies New Zones of Rare Earth and Niobium Mineralisation within Carbonatite Complex

MTM Critical Metals Limited (ASX:MTM) (MTM or the Company) has intercepted further significant TREO mineralisation up to 3.34% TREO in diamond drilling at its Pomme REE-Nb Project in Québec.

Highlights:

• New diamond drilling returns up to 3.34% (33,400ppm) total rare earth oxides (TREO) at the Pomme Project in Québec, Canada.
• Rare earth element (REE) and niobium (Nb) mineralisation again confirmed over broad intervals in previously untested parts of the carbonatite complex.
• Hole POM-23-07 intersected 20.3m @ 0.79% TREO & 0.03% Nb2O5 (from 170.5m) including a number of zones greater than 1% TREO.
• Assays confirm that a significant proportion of the TREO grade is high value magnet REE mineralisation - neodymium (Nd) and praseodymium (Pr).

“The most recently reported assay results confirm significant rare earth element and niobium mineralisation along the central traverse through the Pomme carbonatite complex. Importantly, this hole also contains higher-grade zones that are the focus of our exploration drilling program.

As has been observed in other areas at Pomme, mineralisation was intersected continuously in the bedrock, from immediately beneath the transported glacial cover to the end of hole.

Our confidence in the extent of the mineralised system at the Pomme Project increases as each new set of drill hole assays is received and we anticipate obtaining the results for the remaining six holes from the drilling campaign within the next month.”

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.

Drilling highlights

POM-23-07:

• 20.3m @ 0.79% TREO & 0.03% Nb2O5 from 225m, including:
  • 1.6m @ 1.25% TREO & 0.06% Nb2O5 (from 170.5m) and
  • 4.95m @1.26% TREO & 0.02% Nb2O5 (from 181.85m)
• 47.8m @ 0.30% TREO & 0.07% Nb2O5 (from 190.8m)
• 106.5m @ 0.27% TREO & 0.04% Nb2O5 (from 249.0m)
• 47.5m @ 0.42% TREO & 0.05% Nb2O5 (from 378.0m0, including
  • 6.0m @ 0.60% TREO & 0.06% Nb2O5 (from 387.0m) and
  • 1.0m @ 1.80% TREO & 0.04% Nb2O5 (from 401.9m) and
  • 1.25m @ 3.34% TREO & 0.03% Nb2O5 (from 419.5m)

Figure 1: Drill status map of the Pomme project, showing current and historical drill hole locations overlain on simplified interpreted basement geology diagram.

Pomme is a carbonatite intrusion with exceptional 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-23-07

Drill hole POM-23-07 featured near continuous mineralisation over almost the entire length of the drill core from near surface to the end of hole at 444 metres depth (see Appendix II). The hole intersected mixed carbonatite which hosts rare earth and niobium mineralisation to approximately 217 metres downhole. Ultramafic silicocarbonatite in the central core of the carbonatite complex was then drilled, however this zone continued to contain significant mineralisation, including some higher-grade zones (Table 1).

Table 1: Selected significant intersections from drill hole POM-23-07

* Downhole intervals shown, true width not known. Appropriate rounding of grade values has been applied.

TREO (Total Rare Earth Oxide) grade includes CeO2, Dy2O3, Er2O3, Eu2O3, Gd2O3, Ho2O3, La2O3, Lu2O3, Nd2O3, Pr6O11, Sm2O3, Tb4O7, Tm2O3, Yb2O3 and Y2O3 and is calculated using standard oxide conversion factors for each element (see Appendix III).

Nd+Pr (Neodymium-Praseodymium or NdPr) includes Nd2O3 and Pr6O11. Shown as a percentage of TREO.

Significant intersections are based on a 1,000ppm, 2,000ppm, 5,000ppm and 10,000ppm TREO cut-off grade with up to 2 consecutive samples of internal dilution.

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