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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).
MTM Managing Director, Mr Lachlan Reynolds said the latest hole was completed in a new area not previously tested with any drilling and results continue to expand the mineralised zone.
“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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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 Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox Resources Limited, 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.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, 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.
