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Mt Monger get rare results at Pt Kidman

19 August 2022 11:46
ASX: MTM

Mt Monger Resources have confirmed widespread rare earth mineralisation at its Pt Kidman project, with air-core drilling returning grades up to 1790 parts per million rare earth oxides from within its Western Australian East Laverton project.

Drilling indicated mineralisation was continuous over a stretch exceeding 1.2 kilometres with potential to emerge as a significant deposit of critical minerals.

Just one part of the explorer’s three thousand square kilometre holdings at East Laverton, Pt Kidman represents a potentially large scale rare earth project in a package it considers underexplored and prospective for all of gold, rare earths, nickel, and base metals.

The company said assays confirmed a shallow presence across three broad areas.

“The mineralised saprolitic clay horizon shows continuity over a significant area and only a small fraction of the overall target area has been tested,” managing director Lachlan Reynolds said.

“Elsewhere, surface samples and historical drilling results indicate that there is substantial additional potential for zones of clay-hosted rare earth mineralisation.”

Mt Monger are hardly done at Pt Kidman, with samples submitted for confirmation and additional drilling being permitted as it moves on obtaining heritage clearance from the land’s traditional owners.

Highlights:

  • 22ELAC048 – 15m @ 1,461ppm TREO from 21m
  • 22ELAC003 – 5m @ 1,790ppm TREO from 27m
  • 22ELAC043 – 6m @ 1,493ppm TREO from 12m
  • 22ELAC046 – 2m @ 1,889ppm TREO from 15m
  • 22ELAC039 – 3m @ 1,753ppm TREO from 27m

MTM’s Australian Stock Exchange-listed share price has risen 48 per cent today, currently trading at 18c (11:34 am UTC+ 8 hours).

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