Altona Rare Earths plc said it was on schedule to produce its inaugural mineral resource estimate (MRE) and scoping study for its 100% Monte Muambe project in Tete Province, northwest Mozambique.
TARGETS
The company is currently progressing reverse circulation (RC) drilling at its targets.
For activities during the third quarter, Altona reported that drilling focused on Target 1 and Target 4 continued to define orebodies “suitable for an open-pit mining operation”.
Target 3 and Target 10 are undergoing preliminary investigation.
The company has drilled 14 reverse circulation (RC) holes for 1,372m, mainly on Target 1, including two 150m holes which were tested for rare earth element (REE) mineralisation at depth.
“The work done allowed the company to confirm the geometry of the REE-bearing body, with a strike length of at least 550m (open to the East and West), a width of up to 150m and extending at depth to at least 120m below the surface (open downwards),” added Altona in a statement.
The company has sent 1,360 samples for analysis for 52 chemical elements, including all REEs, ahead of the MRE during Q1 2023 and a scoping study in Q2 2023.
During Q3 2022, Altona began requesting quotations for both independent studies.
Additionally, 20 representative ore samples from Target 1 and Target 4 were sent for analysis to provide more information on ore mineralogy and base data for metallurgical testing scheduled for November.
TARGET 9
Alton added that three holes drilled on Target 9 had inconclusive results “despite some intercepts of up to 4.515% total rare earth oxide (TREO)”.
The company previously excluded Target 9 in the JORC exploration target estimate, published in August 2022.
“Target 9 remains a high potential target and detailed soil sampling and ground geophysics were done during Q3 to support additional drilling to be carried out in the future,” said Altona.
The JORC exploration target was based on actual drilling data from Targets 1 and 4.
Altona added that the estimate allowed it to confirm the potential size and grade of the deposit, which compared favorably to peers in Africa, and to validate the resource drilling plan.
FURTHER DRILLING
Before the end of 2022, the company plans a further 1,600m drilling on Target 1, focusing on the deeper parts of the orebody and its extension towards the east, and on Target 4.
SURFACE EXPLORATION
Surface exploration work continues on the other targets identified so far, with the aim of identifying new blind targets likely to be present at Monte Muambe under a limited layer of overburden.
Detailed geological mapping, soil sampling and ground geophysics continued on Target 9, Target 3 and Target 10.
BOREHOLE COLLARS
During the quarter, Altona conducted a thorough differential GPS survey, covering all existing borehole collar locations (including legacy holes), as well as the topography of Targets 1, 4 and 9.
The company said that the datasets could also be used to prepare the MRE.
OPEN PIT MINING
Chief executive Christian Taylor-Wilkinson added that Altona had, within a year, quickly put itself and Monte Mumabe on the map of possible future REE producers in Africa.
“While the feasibility of a mining operation at Monte Muambe will ultimately rest on a large number of key parameters, including metallurgy, the results of the exploration target show a potential resource of a size and grade that could sustain a viable mining operation, with a geometry favorable to low strip ratio open pit mining.
“The project’s characteristics compare favourably to Monte Muambe’s peer group in Africa.”