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Mt Monger expand rare earth ambitions

1 September 2022 13:50
ASX: MTM

Mt Monger Resources see potential growing for a district-scale rare earth opportunity at Pt Kidman after completing a review over its prospect in Western Australia’s highly prospective East Laverton region.

After hitting into widespread rare earths at shallow depths, the explorer is building geological confidence that further exploration will lead to discovery of similar and even higher mineralisation.

It has the territory to explore, with three broad areas covering over two hundred kilometres earmarked for drilling and additional areas expected to be unveiled as it progresses.

Pt Kidman sits among three thousand square kilometre holdings at East Laverton prospective for gold, nickel, base metals, and rare earths — standing out as one of the hottest commodities even prior to a critical US-Australia trade deal.

MTM East Laverton Map

Summary of rare earth results over Pt Kidman.

The company said it had been excited to test East Laverton’s rare earth potential since listing

“A work program since that time has recently culminated in a reconnaissance aircore drilling program that confirmed the presence of broad, shallow mineralisation — the successful drilling has emphasised the potential scale of the REE mineralised terrane,” managing director Lachlan Reynolds said.

“We are keen to understand if the area contains higher-grade zones and what variations exist in the basket of rare earth elements.”

Mt Monger have heritage clearance and permitting for further drilling underway.

MTM’s Australian Stock Exchange-listed share price was trading at 13c today (9.58 am UTC+ 8 hours).

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