Altona Rare Earths (ANR ) has delivered final Phase 1 assay results from its Monte Muambe site. Following results preview and announcement of future listing on the LSE last week, today the Company has revealed final assay results, confirming significant Rare Earth Elements ("REE") levels across multiple target areas.
NdPr, the most critical of REEs needed to drive the green energy revolution, have been identified at significant levels. Of the 6 targets drilled, 4 have significant REE mineralisation with 2 being new discoveries. Intercepts with up to 7.24% TREO have been identified (>1% needed to be commercially viable), with up to 1.21% being NdPrOx.
Future Drilling & Groundwork
Initial drilling commenced at the Monte Muambe, Mozambique site October 2021, focussing on the aforementioned 6 targets areas.
Phase 2 groundwork began in March 2022, focussing on identifying potential new targets.
Equipment is currently being mobilised to carry out future scout drilling and resource drilling at the site with metallurgical testing expected to be completed by the end of 2022. This data will then be used to draft the Company's maiden Mineral Resource Estimate and carry out a Preliminary Economic Assessment.
Christian Taylor-Wilkinson, Chief Executive, commented: "Our goal is to fill a significant gap in the global REE supply chain as demand for NdPr and the other critical metals continues to rise. This early success at Monte Muambe, together with our developing African infrastructure, increases Altona's opportunity to become a serious partner to any of the major manufacturers which rely upon a sustainable supply of critical rare earth metals."
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