MT Monger (ASX:MTM) move on rare Canadian earth
February 23, 2023Mt Monger Resources has optioned to acquire 100% interest in the late-stage Pomme rare earths and niobium project in Canada’s emerging Quebec province, presenting a golden opportunity for the company to explore a high-calibre REE project at the pre-resource exploration stage.
Pomme also presents an opportunity for Mt Monger to apply its significant expertise in REEs to develop a known carbonatite intrusion bearing outstanding results with globally significant intercept widths.
Even more enticing is the highly accessible and well-serviced site, lays only 7 kilometres from the world-class Montviel rare earth and niobium deposit which is similarly associated with a carbonatite intrusion.
MTM managing director Lachlan Reynolds said the proximity of Pomme to Montviel gives cause to be upbeat on the potential for significant resource discovery and the opportunity to be part of much larger future mining development.
“We are very excited to have executed this option agreement to acquire the Pomme project in the Province of Quebec,” Mr Reynolds said.
“This is a further strategic investment by the Company into the rare earth element sector, which we believe has very positive long-term demand outlook due to the importance of rare earth elements and niobium to the global clean energy transition and the push by governments worldwide to expand and diversify their supplies.
“The project is a perfect fit with our strategy to explore and develop high-quality rare earth element projects that can ultimately supply critical metals to the rapidly growing global EV market and other decarbonisation technologies.”
Just Two Holes So Far
Little reconnaissance diamond drill holes completed in 2012 contain highly significant, exceptionally thick mineralised intersections, including:
- MVX-12-01 – 508.3m @ 0.43% TREO, 413ppm Nb2O5 and 1.48% P2O5, from 73.7m depth, including 7.5m @ 1.28% TREO, 499ppm Nb2O5 and 1.43% P2O5 from 319.5m, 16.5m @ 1.44% TREO, 92ppm Nb2O5 and 0.46% P2O5 from 403.5m, 7.5m @ 1.77% TREO, 183ppm Nb2O5 and 0.59% P2O5 from 483m
- MVP-12-02B – 478.1m @ 0.12% TREO, 340 ppm Nb2O5 and 2.14% P2O5, from 25.9m to EOH
- Total Resource of 266 Mt @ 1.46% TREO & 0.14% Nb2O5
geology map of the Pomme Project and Montviel Deposit
$0.04About Mt Monger Resources
Through its subsidiaries, Mt Monger Resources Limited engages in exploring mineral tenements in Western Australia. It explores gold, base metals, lithium, nickel, cobalt, graphite, and rare earth elements. The company holds interests in the Mt Monger Gold project, which comprises six granted exploration licenses, two pending exploration licenses, and three granted prospecting licenses covering an area of approximately 100 square kilometres, and the East Laverton Gold Project, which consists of twelve exploration licenses covering an area of roughly 3,000 square kilometres located in Western Australia. It also holds interests in the Ravensthorpe project tenements comprising eleven granted exploration licenses and one application covering an area of approximately 1,500 square kilometres within the Albany-Fraser Orogen of Western Australia. In addition, the company holds an option agreement to explore and acquire a 100% interest in the Albion gold project that comprises a total area of 4 graticular blocks located near Norseman in Western Australia. Mt Monger Resources Limited was incorporated in 2020 and is based in West Perth, Australia.
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