[source: Altona Rare Earths]

Altona Rare Earths (ANR ) announced that it is initiating a Phase 2 exploration programme at the group’s Monte Muambe asset after its Phase 1 exploration had returned positive results.

The African-focused mining exploration company, which is focused on developing Rare Earth Elements (“REE”) mining projects, said Phase 1 results from its exploration programme at the Mozambique-based project Monte Muambe had demonstrated “above average” REE levels.

The REE mining project Monte Muambe is a 4km diameter circular carbonatite intrusion located in Tete Province, Northwest Mozambique, held under Prospecting Licence 7573L.

Altona initiated a drilling programme in October 2021 to focus on six target areas, drilling in total 590m Diamond Drilling (DD - 5 holes) and 2,541m Reverse Circulation (RC - 38 holes).

To date, Altona has returned full analysis results from 3 drill holes as well as samples from multiple drill sites which have been analysed on site using the firm’s recently procured pXRF field analyser, which it said provides immediate estimates of mineral content in samples.

The results have confirmed the presence of carbonatite-hosted rare earth mineralisation, at an above average grade Total Rare Earth Oxide (“TREO”) in four of the six targets drilled.

Amongst these, two of the targets (holes MM021 and MM042) are new discoveries open in several directions. The company said this provides “a clear basis” to proceed to Phase 2.

Altona has sent 705 DD samples and 974 RC samples to certified assay labs in South Africa and Australia; it said these results are expected to be received before the end of May 2022.

Phase 2 work starting in April 2022 will include soil sampling, ground geophysics and scout drilling (1,200m RC), resource drilling (6,800 RC) and metallurgical testing which will be used to produce a maiden Mineral Resource Estimate and a Preliminary Economic Assessment.

Christian Taylor-Wilkinson, Chief Executive of Altona Rare Earths, commented, “We believe that Monte Muambe could develop into a major REE resource. Initial results from our Phase 1 activities are very positive with higher than expected grades and the discovery of two new target areas. Phase 2 will work towards confirming these indications, via a Resource Estimate, and provide a solid platform for a substantial valuation of Monte Muambe.”

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