‘Potential for an economic resource of scale’: MTM drilling returns thick, near continuous rare earths and niobium at Pomme

• First assays from Pomme drilling show broad, near-continuous REE and niobium mineralisation
• Multiple higher-grade zones including a top interval of 26.5m at 1.45% TREO and 0.02% niobium
• Significant proportion (20%-25%) of valuable magnet REEs such as NdPr
• Assays pending for a further 10 diamond drill holes

Initial assays from drilling at MTM’s Pomme project in Quebec has returned a broad interval of high-grade rare earths with niobium while confirming the near continuous presence of mineralisation.

The company noted in early September that maiden drilling program had uncovered widespread visual mineralisation over an area of more than 2km2 at the project, a good start to its goal of defining a significant resource.

Finding such a resource has the potential to be hugely lucrative for MTM Critical Metals (ASX:MTM) given the strong demand for REEs – particularly magnet REEs – for use in electric vehicles.

Pomme certainly ranks highly as a target for defining a hefty resource given that it is a known carbonatite intrusion that is enriched in REE and niobium, which is also adjacent to Geomega Resources’ world-class Montviel deposit that has a total resource of 266Mt grading 1.45% total rare earth oxides (TREO) and 0.14% niobium.

MTM managing director Lachlan Reynolds says the company’s exploration strategy was to discover zones of about 1.5% or greater TREO, similar to the intercepts in the original drill hole that tested the carbonatite and the nearby Montviel deposit.

First drill results show potential for “economic resource of some scale”

Assays from the first three of 13 diamond holes has validated the company’s belief in the Pomme project’s prospectivity with the intersection of REEs and niobium over broad intervals with numerous higher-grade zones of >1% TREO.

These included a top interval of 26.5m at 1.45% TREO and 0.02% niobium within an extremely broad intercept of 398m at 0.54% TREO and 0.05% niobium from a down-hole depth of 16m.

Adding further interest, this same hole returned the highest-grade TREO hit of 8.5m at 1.62% TREO and 0.03% niobium in a separate zone from the top interval.

High-value magnet REEs neodymium and praseodymium also make up between 20% and 25% of the total REE content, which is another plus in the project’s favour.

Importantly for MTM, the results from the first three holes have confirmed the near continuous presence of REE and niobium mineralisation.

“Assay results from the recent drilling show the Pomme carbonatite complex contains abundant rare earth and niobium mineralisation that extends throughout the full length of the diamond drill cores and verify the historical REE-niobium mineralisation intersected in drill hole MVX-12-01,” Reynolds said.

“Furthermore, there are a number of significant higher-grade zones within the mineralised carbonatite indicating significant potential for an economic resource of some scale.

“The consistent high percentage of NdPr and the presence of niobium are particularly pleasing and increase the mineralisation basket price for the prospect.

“Our exploration team will be looking to undertake a thorough assessment and interpretation of the geological logging and the assay results in order to define high priority areas for follow-up exploration works, including drilling.”

More assays to come

MTM is currently awaiting assays from the remaining 10 holes, including hole POM-23-04, which had intersected significant zones of visual REE mineralisation in an entirely new part of the carbonatite complex which has not previously been tested.

Interpretation of the results and targeting for follow-up exploration is also in progress.

This article was developed in collaboration with MTM Critical Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post ‘Potential for an economic resource of scale’: MTM drilling returns thick, near continuous rare earths and niobium at Pomme appeared first on Stockhead.

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