Altona Rare Earths plc intercepted record high grade ore with more confirmed on targets at the Monte Muambe project in Tete Province, northwest Mozambique.
TARGET POTENTIAL
The company has to date drilled 10 reverse circulation holes for a total 790 metres.
Interceptions include 76m at 3.426% total rare earth oxides (TREO) from surface at target 4, which Altona said was a record for Monte Muambe in terms of length and grade.
Drilling at target 4 also provides further data for the geological modelling for the mineral resource estimate (MRE).
Altona drilled two holes at target 3, with drillhole MM110 intersecting 2.735% TREO from surface to 30m, open at depth, confirming the potential to add to Monte Muambe’s resource.
The company has also started a shallow trenching programme to gather additional data on the position of the high-grade orebody boundaries of targets 1, 3, and 4 at surface level.
The trenching programme will involve testing other targets previously identified using geochemical and geophysical methods.
MRE & STUDIES
The company said work on an MRE was on schedule, with all assay results from the 2022 drilling programme sent to mining consultant Snowden-Optiro to prepare the MRE and scoping study.
“We are also planning new exploration work on other, as yet-unexplored targets which were identified from the soil sampling survey we conducted last year,” added chief executive officer Cedric Simonet.