Lachlan Reynolds, Managing Director of MTM Critical Metals, discusses a new REE and niobium acquisition and the results of the exploration programme designed to discover the next critical metal deposit in Canada.
MTM Critical Metals Limited (MTM) is an Australian-based junior mineral company focused on the exploration and development of rare earth element (REE) and niobium (Nb) deposits in Australia and Canada.
High priority critical metal exploration target
The Pomme project is considered to be an extremely prospective carbonatite exploration target and was tested in 2023 with an approximately 5,700m diamond drilling programme. Drilling assay results from the drilling programme confirm that REE-Nb mineralisation is widespread and extends over almost all of the carbonatite target area, in excess of 2km2.
geology diagram
Importantly, the drill holes contained zones of elevated total REE grade indicating potential for the discovery and delineation of a new REE-Nb deposit.
The REE mineralisation contains elevated neodymium and praseodymium (NdPr), essential minerals for the magnet and electric vehicle market. The mineralisation is also characterised by low uranium and thorium grades, which is favourable for environmental and safety aspects of future processing.
Pomme is located adjacent to the world-class Montviel REE-Nb deposit, owned by TSX:V listed Geomega Resources Inc., that has a defined total indicated and inferred resource of 266 Mt @ 1.45% TREO and 0.14% Nb2O5.
New REE and niobium projects
In late 2023, MTM announced that the company would acquire 100% of a private company that holds rights to three granted exploration licences prospective for REE and niobium in Western Australia’s West Arunta region, immediately adjacent to ground held by WA1 Resources Ltd (ASX:WA1) and Encounter Resources Ltd (ASX:ENR).
The acquisition also gives the company an option to exclusively negotiate the rights to Flash Joule Heating technology developed by Rice University in Houston, US, which has demonstrated the potential to treat REE mineralisation and more efficiently recover critical metals from critical metal-rich recycling and waste streams.
130km west of the Northern Territory/ Western Australia border adjacent to ground held by WA1 Resources Ltd and Encounter Resources Ltd
“We are very excited to acquire such prospective ground in the West Arunta province, where there is an opportunity to discover new niobium-rare earth deposits in the historically untested ground right next door to some emerging mineralised carbonatite projects.
Additionally, Flash Joule Heating has shown promise during test work for metal recycling and for the treatment of waste such as coal fly ash. Still, we are very keen to see what applications it may have for treating rare earth mineralisation, where a breakthrough could unlock immense value from otherwise economically marginal deposits.”
Please note, this article will also appear in the seventeenth edition of our quarterly publication.
