MTM Critical Metals Discovers Encouraging Signs for Rare Earths at Montviel South

MTM Critical Metals Limited (ASX: MTM) has identified promising indications of rare earth elements (REEs) and niobium (Nb) at its Montviel South project in Québec, Canada.

This news comes after a surface geochemical sampling program conducted in late 2023.

The company held cash of $4.8 million in February 2024.

Key Points

Montviel South is strategically located just 7 kilometres from the world-class Montviel Deposit, known for its significant reserves (266 Mt @ 1.46% TREO and 0.14% Nb2O5).

Geochemical analysis revealed significant surface anomalies, with total rare earth element (TREE) values exceeding 1,000 ppb across broad areas. Notably, specific zones reached values as high as 7,800 ppb TREE.

Elevated levels were particularly concentrated in the north and north-eastern regions of the claim block, aligning with the interpreted extent of the Montviel intrusive complex and associated carbonatites.

MTM is planning a follow-up exploration program for the upcoming summer field season in Quebec.

This program will include:

  • Additional soil sampling
  • Potential trenching (depending on findings)
  • High-resolution drone geophysical survey to gather detailed magnetic data
  • The anticipated results are expected to pinpoint drilling targets and pave the way for an initial drilling campaign.The drilling program aims to uncover new zones with potential for carbonatite-hosted REE-Nb mineralization.

MTM Managing Director, Mr. Lachlan Reynolds, expressed his enthusiasm regarding the findings:

“The geochemical anomalies identified at Montviel South strongly suggest the area’s potential for harbouring carbonatite-hosted REE-Nb mineralization, similar to the neighboring Montviel deposit and our Pomme REE-Nb project.

The next phase of exploration at Montviel South will progress during the Quebec summer field season.

Additional Assets

MTM holds an option to exclusively negotiate licensing rights for a promising early-stage processing technology known as Flash Joule Heating, developed by researchers at Rice University in the U.S.

This technology has the potential to make the extraction of REEs from economically marginal deposits more feasible.

The technology demonstrates exciting applications in recycling, offering a more efficient way to recover critical metals from various sources, including lithium-ion batteries, electronic waste, coal fly ash, and bauxite residue.

MTM’s West Arunta Nb-REE licenses are within a renowned Australian critical metals exploration hotspot where over $60m in exploration expenditure has been collectively invested in the district by several ASX companies including WA1 Resources Limited (ASX: WA1), Encounter Resources Limited (ASX: ENR), Rio Tinto Limited (JV with Tali Resources Pty Ltd) (ASX: RIO), CGN Resources Limited (ASX: CGR), and IGO Limited (ASX: IGO).

Articles of Interest