Mt Monger (ASX:MTM) greenlit at Pomme
Mt Monger Resources are approved to start drilling at its almost untouched Pomme Rare Earth and Niobium project in Canada’s Great White North.
Diamond drilling will give a first glance at Pomme’s compelling carbonatite complex, with the programme seeking to get a handle on the intrusions’ grade and continuity.
$0.46Limited historic drilling in times of lesser rare earth demand returned exceptional results at the site, now considered an extremely prospective exploration target on the doorstep of a Montviel deposit playing host to its 266 Mt @ 1.45% TREO & 0.14% niobium pentoxide resource.
Niobium can be found in practically everything that demands a high-strength, lightweight, and durable material, with just a sprinkle of the rare metal making steel twice as strong and crack-resistant, an application found more than helpful across a wide range of industries.
Demand for niobium is steadily increasing, driven by its use in high-performance steel in critical infrastructure and applications, such as wind turbines and electric vehicles.
Canada hosts one of the two most economic niobium resources on the planet, making it a feasible alternative to China – the world’s largest producer, followed by Brazil.
Proposed drilling showed on airborne magnetic image
Meanwhile, the spread of rare earth remains as lucrative as ever; despite a groundswell of exploration to meet a technology-driven demand, economic resources and discoveries are still uncommon.
METALLIUM FPO [MTM]