- Mt Monger Resources (MTM) intersects broad rare earth element (REE) mineralisation at the Pt Kidman prospect, part of the East Laverton Project in WA
- The company drilled 48 aircore holes at the prospect to test the known REE mineralisation in the area
- Significant widths and grades of REE mineralisation were encountered with up to 1889 parts per million total rare earth oxide intersected
- Further drilling at Pt Kidman is currently being permitted and Mt Monger is obtaining heritage clearance from traditional owners
- Mt Monger is up 24 per cent with shares trading at 15.5 cents at 11:33 am AEST
Mt Monger Resources (MTM) has intersected broad rare earth element (REE) mineralisation at the Pt Kidman prospect within the East Laverton project in WA.
A total of 48 aircore holes, for 1084 metres, were drilled at Pt Kidman to test the known REE mineralisation in the area.
Drilling reportedly encountered significant widths and grades of REE mineralisation with a best result of two metres at 1889 parts per million (ppm) total rare earth oxide (TREO) from 15 metres.
Other results include five metres at 1790 ppm TREO from 27 metres, three metres at 1753 ppm TREO from 27 metres, and six metres at 1493 ppm TREO from 12 metres.
Further drilling at Pt Kidman is currently being permitted and Mt Monger is in the process of obtaining heritage clearance from traditional owners.
“These assays confirm the presence of shallow, rare earth element mineralisation across
three broad areas of the Pt Kidman prospect,” Managing Director Lachlan Reynolds said.
“The mineralised saprolitic clay horizon shows continuity over a significant area and only
a small fraction of the overall target area has been tested.
“These results suggest that the Pt Kidman prospect is an exciting opportunity that could evolve into a new critical minerals deposit of importance.”
Mt Monger was up 24 per cent on the market with shares trading at 15.5 cents at 11:33 am AEST.