Mt Monger Resources soil sampling identified a fresh 15-kilometre rare earth target with peak values up to ten times the background levels at its East Laverton project in Western Australia.
The length, levels and spatial association with thorium-enriched intrusive rocks demand follow-up, and the explorer moves on a drilling program to further test the anomaly.
East Laverton is considered highly prospective for gold, rare earth and base metals by the Perth-based company, and ongoing work is developing several high priority targets.
The company said its technical team would be focusing on the unusual rare earth mineralisation at the prospect.
“The available exploration data indicates that anomalism is widespread and locally very high grade,” managing director Lachlan Reynolds said.
“Work to-date has defined a very large prospective area, and the Company is preparing an initial drilling program to test the priority areas.”
Mt Monger meanwhile expands into lithium prospects at Ravensthorpe while continuing to advance its Mt Monger gold project.
MTM’s Australian Stock Exchange-listed share price was trading at 16.5c today (11:00 am UTC+ 8 hours)