MTM Critical Metals intersects broad zones of REE-niobium mineralisation at Pomme

MTM Critical Metals (ASX: MTM) has confirmed it has uncovered a significant proportion of high-value magnetic rare earth element (REE) mineralisation with promising assays from its Pomme project in Québec, Canada.

The recent diamond drilling assays at Pomme have returned grades as high as 0.34% total rare earth oxides (TREO) and 0.02% niobium.

Highlights from the program included intersections of 330 metres at 0.34% TREO and 468.35m at 0.29%.

Managing director Lachlan Reynolds says the intersections suggest Pomme may be a very large mineralised system.

“The most recently reported assay results finalise the wide-spaced drilling coverage of the Pomme carbonatite complex,” he said.

“The results confirm that rare earth and niobium mineralisation extends over almost all of the carbonatite target area, in excess of 2 square kilometers.”

“All of the principal assay results from the Pomme diamond drilling program have now been received.”

“The company will be using the time over the Canadian winter period to compile and assess these results in order to identify the highest priority areas for follow-up and plan the field program for 2024.”

Strong follow-up to previous success

In mid-November, MTM initially reported it had intercepted further significant TREO mineralisation at Pomme in an area not previously tested.

As had been observed in other areas at Pomme, mineralisation was intersected continuously in the bedrock from immediately beneath the transported glacial cover to the end of the hole.

Those results and the newly-received assays have confirmed enrichment in REE and niobium mineralisation over a broad area.

MTM has entered into a binding option agreement with Geomega Resources to acquire a 100% interest in the Pomme claims.

Pomme is located adjacent to Geomega’s world-class Montviel REE-niobium deposit, which has a defined total indicated and inferred resource of 266 million tonnes at 1.45% TREO and 0.14% niobium.

Growing Canadian rare earth footprint

In early October, MTM bolstered its portfolio of highly prospective REE-niobium targets in southern Quebec by entering into a second binding option agreement with Geomega to acquire a 100% interest in the Montviel South project.

That project is located 10km south of Pomme and adjacent to the Montviel deposit.

Mr Reynolds said that deal represented a phenomenal strategic opportunity.

“Like our Pomme project, the Montviel South project area contains a number of mineralised occurrences that have not been followed up or tested with drilling and shares the great advantage of being adjacent to the significant Montviel deposit,” he said in announcing the deal.

“We’re building a considerable land package in what we’re confident is a highly prospective area for high-value light rare earths and niobium.”

“The combined Pomme / Montviel South acreage has the potential for a globally significant REE carbonatite project.”

“Carbonatites are the major source of high-grade hard rock REE being mined globally and this project has both the scale potential and location to be highly strategic and sought after.”