MTM Critical Metals Strikes Significant Rare Earth Elements at Quebec’s Pomme Project
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2024-01-05
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MTM Critical Metals, formerly Mt Monger Resources, has released significant findings of rare earth elements (REE) and niobium (Nb) at its Pomme project in Quebec. These recent discoveries bolster the notion that the Pomme project could parallel the nearby Montviel carbonatite REE-Nb deposit, owned by Geomega Resources, located a mere 7 kilometers away.The Pomme project, procured in February of the previous year for $1 million in cash and shares, had only seen minimal exploration prior to MTM’s involvement. Early drilling in 2012 had however revealed encouraging REE-Nb mineralization. MTM’s recent 13-hole drill program has yielded significant results, such as a 398-meter interval with 0.54% total rare earth oxides (TREO) and 0.05% niobium oxide (NbO).The latest drilling results unveiled broad intervals of REE and Nb mineralization in previously untested areas of the Pomme carbonatite complex, with hole POM-23-13 showing 330 meters at 0.34% TREO & 0.02% NbO, including zones with up to 2.0% TREO. Another hole, POM-23-11, revealed a 468.35-meter interval with 0.29% TREO & 0.06% NbO. A significant portion of the TREO grade consists of high-value magnet REE minerals such as neodymium (Nd) and praseodymium (Pr).MTM’s Managing Director, Lachlan Reynolds, has confirmed the large mineralized system at Pomme, which spans over 2 kilometers. With all major assay results in, MTM plans to use the Canadian winter period for data compilation and assessment to prioritize areas for follow-up work and prepare for the 2024 field program. In recent news, MTM raised $1 million through convertible notes to institutional investors and acquired a niobium-REE project in Western Australia, adjacent to other resource companies.
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