Mt Monger Resources (ASX: MTM) flags best to come at Pt Kidman REE prospect

Mt Monger Resources’ recent intersects of widespread, significant REE Mineralisation on the northern side of the Pt Kidman prospect have provided growing confidence that further exploration can lead to the discovery of similar and higher quality REE mineralisation and extend known areas.

Recent Results

• 22ELAC048 – 15m @ 1,461ppm TREO, from 21m 
• 22ELAC003 – 5m @ 1,790ppm TREO, from 27m 
• 22ELAC043 – 6m @ 1,493ppm TREO, from 12m 
• 22ELAC046 – 2m @ 1,889ppm TREO, from 15m 
• 22ELAC039 – 3m @ 1,753ppm TREO, from 27m

The Company says the best original REE results mainly were on the southern part of the 200 square kilometres REE prospective area – part of the East Laverton Project comprising twelve exploration licences, covering an area of approximately 3000km² in the highly prospective East Laverton region of Western Australia.

“The successful drilling has emphasised the potential scale of the REE mineralised terrane.  The Company’s exploration team now have identified numerous opportunities to test for both extensions of the known mineralisation and for new zones of mineralisation,” managing director Lachlan Reynolds said.

“Planning and permitting is currently underway to undertake further drilling and we are keen to understand if the area contains higher-grade zones and what variations exist in the “basket” of rare earth elements that the mineralisation contains.”

Aircore drilling (SW of the tenement)

The area of known REE anomalies extends over more than 20km by 10km, indicating that the Pt Kidman area represents a potentially large-scale, rare earth element project. 

A recent drilling program only tested a small part of this prospective terrane but has locally shown significant continuity and grade within the mineralised zone within the weathering profile over Archaean granitoid rocks.

MTM ASX shares are 13.5c.

About the East Laverton Project

The East Laverton Project comprises twelve exploration licences, covering an area of approximately 3,000km² in Western Australia’s highly prospective East Laverton region, 50-100 km east of Laverton and 350km northeast from Laverton Kalgoorlie-Boulder. 

The project is located within the Eastern Goldfields Superterrane on the eastern part of the Archean Yilgarn Craton. 

The poorly exposed granite-greenstone terranes of the eastern Yilgarn Craton include some of the world’s most mineralised belts and host world-class gold deposits.

Due to extensive transported cover, the project area has had limited historical exploration, despite being surrounded by existing and emerging world-class gold camps. 

To the west, the Laverton Greenstone Belt is home to Sunrise Dam (10 Moz Au), Wallaby (8 Moz Au) and Granny Smith (2.5 Moz Au) and a suite of other nearby gold deposits.  Gold production from the belt is estimated to be more than 28 Moz Au. 

Lying to the east of the area is the Yamarna Greenstone Belt, hosting the 6 Moz Au granitoid-host ed Gruyere deposit, whilst the 7.5 Moz Au granite gneiss-hosted Tropicana deposit is located in the Albany-Fraser Province to the southeast.

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