MTM Critical Metals (ASX:MTM) mark discovery at East Laverton

MTM Critical Metals has reason to celebrate after discovering laterite nickel mineralisation at the Seahorse Prospect in their East Laverton project, which is already known to contain several other high-value commodities.

An aircore program confirmed high-grade nickel-cobalt-chromite mineralisation over one kilometre of strike, while magnetics and geochemistry point towards the strike of prospective rocks extending beyond three kilometres.

MTM Managing Director Lachlan Reynolds said marking a discovery culminated a systemic exploration campaign over the past two years.

“Prior to our work, there has been limited historical exploration in this area, which is mostly covered by transported sediments and marginal to the greenstone belts that are traditionally considered to be most prospective,” Mr Reynolds said.

However, our combined soil sampling program and interpretation of the regional geophysical surveys have identified numerous anomalies, which this drilling confirms can be associated with mineralisation developed in the laterite profile created over prospective rocks.”

According to Mr Reynolds, the length of the ultramafic unit analysed through drilling suggests a great potential for discovering a significant resource.

“We are also keen to evaluate the potential for sulphide-hosted nickel mineralisation associated with the ultramafic units and are considering what ground geophysical survey types may be appropriate to undertake to define new drilling targets,” he said.

The East Laverton tenements are considered prospective for all of gold, nickel, base metals, and rare earth – also revealed in these new intercepts with grades up to 1850ppm TREO and adding to the broad stretches of clay-hosted mineralisation confirmed at Pt Kidman.

MTM plans to use a validated exploration model to explore priority target areas that have not yet been drilled. Their land package in Western Australia covers 3000 kilometres of underexplored territory.

Higher grade drilling intersections:

• 17m @ 0.92% Ni
• 28m @ 0.95% Ni, 10m @ 0.10% Co and 21m @ 0.97% Cr
• 28m @ 0.97% Ni and 32m @ 1.08% Cr
• 11m @ 0.88% Ni and 7m @ 1.28% Cr
• 9m @ 0.72% Ni, 10m @ 0.91% Cr
• 16m @ 0.65% Ni, 32m @ 0.13% Co and 44m @ 1.09% Cr

Prospect map showing the location of the nickel laterite discovery.

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Sector: Basic Materials

Industry: Other Precious Metals & Mining

Employees:

MTM Critical Metals Limited, through its subsidiaries, explores for mineral tenements in Western Australia. It explores for gold, base metals, lithium, nickel, cobalt, graphite, and rare earth elements. The company was formerly known as Mt Monger Resources Limited and changed its name to MTM Critical Metals Limited in May 2023. The company was incorporated in 2020 and is based in West Perth, Australia.

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