Mt Monger (ASX:MTM) shows rare potential at Pt Kidman
January 17, 2023Mt Monger Resources has identified large areas highly prospective for rare earth elements at its Pt Kidman prospect, part of the Company’s East Laverton project in Western Australia’s north Eastern Goldfields.
The sampling program dramatically expands the geochemical sampling coverage in the area, which was previously restricted to a small area in the southwest corner of the Pt Kidman area.
Prioritised drilling will target multiple broad areas anomalous for REEs covering more than 100 square kilometres.
“As anticipated, soil sampling results from Pt Kidman have shown that several very large areas are prospective for rare earth element mineralisation,” Managing Director Lachlan Reynolds said.“Previous aircore drilling of anomalous areas have indicated the presence of significant thicknesses and grades of clay-hosted REE within the weathered basement rocks.“On this basis, our exploration team are confident that further drilling will reveal additional zones of similar mineralisation.”We are very keen to get a drilling rig mobilised to the area and expect to begin testing these newly defined anomalies in coming weeks.”
Soil Sampling Results
The assay results are from a program of surface geochemical sampling which was completed in September to October 2022, mainly within the Pt Kidman prospect area (tenement E38/3466, E38/3499 and E38/3462) and extending to the south to the central part of the East Laverton Project (tenement E38/3510) (Figure 2).
Soil sampling locations at East Laverton and gridded MMI soil geochemical results for TREE
The sampling program greatly expands the geochemical sampling coverage in the area, which was previously restricted to a small area in the southwest corner of the Pt Kidman area (refer to Mt Monger ASX announcement dated 4 March 2022).
Price Action
The Company’s ASX-listed shares are 7.9c in early morning trade.
Fundamental Data
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