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MTM Critical Metals Limited (ASX:MTM) (MTM or the Company) has intercepted further significant TREO mineralisation up to 2.72% (27,200ppm) from diamond drilling at its Pomme REE-Nb Project in Québec, within an interval of 3.4m @ 1.99% (19,900ppm) TREO and 0.02% Nb2O5.
Highlights:
- New diamond drill holes assay results up to 2.72% (27,200ppm) total rare earths 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.
- Zones of higher-grade mineralisation >1% (10,000ppm) TREO were intersected.
- Hole POM-23-05 intersected 276m @ 0.37% (3,700ppm) TREO & 0.08% Nb2O5.
- Best interval is 3.4m @ 1.99% (19,900ppm) TREO & 0.02% Nb2O5.
- Up to 32% of TREO is high value magnet REE mineralisation - neodymium (Nd) and praseodymium (Pr).
MTM Managing Director, Mr Lachlan Reynolds said the latest two holes further validated the Company’s interpretation that the Pomme carbonatite contains a very large mineralised system.
“These new assay results are from previously untested parts of the Pomme carbonatite complex and confirm that abundant rare earth element and niobium mineralisation is widespread.” Mr Reynolds said.
“Like previously reported results, these drill holes intersected significant higher-grade zones of rare earth mineralisation and contained consistently elevated percentages of NdPr.
“We are starting see how the geology of the carbonatite controls the distribution of mineralisation and this will be an integral part of our follow-up to test priority areas. Pomme is considered to have the geological potential to host a resource of significant scale.,” he said.
The assays follow encouraging results reported last week from the first three holes1. Assays are still awaited for the remaining eight holes (POM-23-06 to POM-23-13) from the 13 hole campaign.
Drilling highlights
- POM-23-05: 276m @ 0.37% TREO & 0.08% Nb2O5 from 225m, including:
- 9.0m @ 0.94% TREO & 0.02% Nb2O5 (from 226.5.5m) including
- 3.8m @ 1.46% TREO & 0.01% Nb2O5
- 57m @ 0.47% TREO & 0.10% Nb2O5 (from 375m) including
- 3.4m @ 1.99% TREO & 0.02% Nb2O5
- 63.5m @ 0.48% TREO & 0.06% Nb2O5 (from 437.5m to EOH) including
- 12.7m @ 1.04% TREO & 0.04% Nb2O5
- 9.0m @ 0.94% TREO & 0.02% Nb2O5 (from 226.5.5m) including
- POM-23-04: 266.2m @ 0.22% TREO & 0.04% Nb2O5 (from 36.8m), including:
- 39.5m @ 0.46% TREO & 0.05% Nb2O5 (from 79m) including
- 4.25m @ 0.88% TREO & 0.07% Nb2O5
- 39.5m @ 0.46% TREO & 0.05% Nb2O5 (from 79m) including
Figure 1: Drill status map of the Pomme project, showing current and historical drill hole locations overlain on airborne magnetic image.
Figure 2: Schematic cross-section diagram of the Pomme Project, showing current and historical drill hole mineralised intersections, including new results from hole POM-23-04.
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.
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-23-04
Diamond drill hole POM-23-04 is located in the previously untested northwest part of the Pomme carbonatite complex and results indicate that REE-Nb mineralisation is also developed within a zone on the northern side of the central magnetic core (Figure 1 & 2).
Assay results confirm that the diamond drill core from hole POM-23-04 is almost continuously mineralised from the depth where basement was intersected to approximately 300 metres down hole (Table 1). The peak intersection was 4.25m @ 0.88% TREO & 0.07% Nb2O5 from 90.5m, contained within a broader zone of elevated grade of 39.5m @ 0.46% TREO & 0.05% Nb2O5 from 79m down hole. Sporadic mineralisation was locally intersected to the end of hole depth (405m). Full details of the relevant intersections are detailed in 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
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.
