Altona Rare Earths plc said the final Phase I assay results showed significant rare earth element (REE) levels at its Monte Muambe light REE project in northwest Mozambique.
PROGRAMME
Monte Muambe is a 4km diameter circular carbonatite intrusion in Tete Province, where the company began an initial drilling programme in October 2021.
The company focused on six target areas and diamond drilled five holes for 590m and 38 holes of 2,541m reverse circulation (RC).
Assays cover a total of 705 diamond drill samples and 974 RC samples (including QAQC samples).
RESULTS
Altona said that Phase 1 assay results show significant REE levels across multiple target areas and identified significant levels of NdPr.
The company recorded individual intercepts with up to 7.24% TREO and up to 1.21% NdPrOx.
Out of the six targets drilled, four have significant REE mineralisation and warrant follow-up, with two being new discoveries.
PHASE II
Phase II groundwork began in March 2022 and included additional soil sampling and ground geophysics to identify potential new targets.
Altona said that drilling equipment would be mobilised at the start of May to perform scout drilling (1,200m RC) and resource drilling (6,800 RC).
Metallurgical testing will follow at the end of 2022.
Results will be used to produce an initial mineral resource estimate and a preliminary economic assessment.
The company’s current priority is to test the lateral extension of holes MM021 and MM042, and to continue drilling Target 1 in a south-easterly direction.
PARTNER
“Our goal is to fill a significant gap in the global REE supply chain as demand for NdPr and the other critical metals continues to rise,” said chief executive Christian Taylor-Wilkinson.
“This early success at Monte Muambe, together with our developing African infrastructure, increases Altona’s opportunity to become a serious partner to any of the major manufacturers which rely upon a sustainable supply of critical rare earth metals.”