VANCOUVER, BC, June 29,
2022 /CNW/ - Monumental Minerals Corp.
("Monumental" or the "Company") (TSXV: MNRL) (FSE:
BE5) (OTC: MNMRF) is pleased to announce plans for a follow-up
exploration work program at the Laguna Blanca lithium (Li) brine
and cesium (Cs) sediment project (the "Project"), located
within the Lithium Triangle, northern Chile.
The Laguna Blanca Project is within the eastern Andean
Geomorphic Belt of Chile's Central
Andean Altiplano and is located 120 km from the Salar de Atacama,
the largest producing salar in the world. The felsic volcanic rocks
of the Central Andean Altiplano are enriched in Li and Cs. Seasonal
rain and snow melt leaches and transports Li, Cs, Ca, Na, Mg, K,
and B from rock units into the enclosed Laguna Blanca
salar. With no outlets, evaporation concentrates these
elements within mineral-rich salar brines.
On June 18 and 19, 2022,
Monumental hosted a site visit to the Laguna Blanca Project (Photo
1) for the Company's Chilean team, in order to formulate an
exploration work program. The objective of the program is to
develop drilling targets by confirming existing areas of interest
and by establishing additional targets within the concessions that
fall under the Company's option agreement with Lithium Chile
Inc.
The Company's Chilean team includes:
- Caracle Creek Chile SpA: Monumental's local Chilean
exploration consulting and project management group.
- Atacama Water SpA: Hydrogeological site characterization
and brine resource evaluation.
- Satelite SpA: Specialized in sustainable advancement of
the Project including social, community, and environmental terms to
build solid links and relationships with our stakeholders.
Dr. Jamil Sader, CEO and Director
of Monumental, comments:
"We look forward to advancing our Laguna Blanca Project
utilizing TEM geophysics and near-surface brine and sediment
geochemistry. The results from this exploration work program will
be quickly translated into the delineation of multiple drilling
targets. Monumental's high-performance Chilean team have been
instrumental in the planning of our field work program, and they
are a key part of our success in Chile to date and will be in the
future."
The work program is set to commence immediately with the
objective to collect additional near-surface brine and sediment
samples for geochemical analysis. The sample locations will be
strategically selected to build on the previous sampling conducted
by Lithium Chile Inc., within the 9 square km highly prospective
area (see Monumental Minerals press release dated June 7, 2022). Samples will also be collected
based on assessments of the basin and on a transient
electromagnetic (TEM) geophysical survey previously carried out by
Lithium Chile Inc. in 2019 (Figure 1). Conductive anomalies from
that survey occur from less than 100 to 150
m below ground surface and have strike lengths of several
kilometres (Figure 1).
Transient Electromagnetics (TEM), also referred to as Time
Domain EM (TDEM), is an electromagnetic geophysical method which
utilizes a controlled inductive source to generate diffusion and/or
eddy currents in the subsurface whose secondary magnetic field
response is then measured. The electromagnetic responses from TEM
surveys and subsequent modelling are highly effective in
delineating the locality and thickness of brine aquifers. Brine
fluids contain high concentrations of elements including lithium,
cesium, and boron, which conduct electrical currents more
efficiently than fresh water or silicate rocks. Thus, highly
conductive zones in the subsurface, in conjunction with high
lithium contents from surface sampling, present compelling targets
for drilling and follow-up exploration.
Monumental Minerals Corp. has granted incentive stock options to
certain of its directors and consultants to purchase up to an
aggregate 35,000 common shares of the Company at a price of
45 cents per common share for a
period of three years, with the options vesting immediately.
Methodology and QA/QC
At Laguna Blanca, Transient Electromagnetic (TEM) surveys were
conducted in 2019 using a 200-metre coincident square moving loop
configuration with contiguous (back-back) moving loops, acquiring
the vertical component of dB/dt data at frequencies of 1 and 4Hz,
using a Zonge, GDP-32II 16-bit receiver, and Zonge, ZT-30
transmitter. A series of 3 northeast-southwest oriented lines
comprising 67 TEM stations over 13 line-km were completed. 1D
smooth-model inversion (STEMINV v3.00, Scott MacInes, Zonge) was
used for converting TEM measurements into resistivity versus depth
information within Geosoft Oasis Montaj software.
Qualified Person
The scientific and technical information contained in this news
release has been reviewed and approved by Kristopher J.
Raffle, P.Geo. (BC) Principal and Consultant of APEX
Geoscience Ltd. of Edmonton, AB, a
Director of the Company and a "Qualified Person" as defined in
National Instrument 43-101 – Standards of
Disclosure for Mineral Projects. Mr. Raffle
verified the data disclosed which includes a review of the
sampling, analytical and test data underlying the information and
opinions contained therein. Monumental cautions that past results
or discoveries on proximate land are not necessarily indicative of
the results that may be achieved on the Laguna Blanca Project.
About Monumental Minerals
Corp.
Monumental Minerals Corp. is a mineral exploration company
focused on the acquisition, exploration, and development of mineral
resource properties in the critical and electric metals sector. The
Company's flagship asset is the Jemi HREE project located in
Coahuila, Mexico near the
Texas, USA border which the
Company has an option to acquire 100% of the 3,650-hectare
project. The Company has an option to acquire a 75% interest
and title to the Laguna Blanca project located in Chile.
On behalf of the Board of Directors,
/s/ "Jamil Sader"
Jamil
Sader, Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward Looking
Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, the potential plans for the
Company's projects, the timing, completion and expected outcomes of
the next phase of exploration work on the Laguna Project, other
statements relating to the technical, financial and business
prospects of the Company, its projects and other matters. All
statements in this news release, other than statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Such statements are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of metals, the ability to achieve its goals,
that general business and economic conditions will not change in a
material adverse manner and that financing will be available if and
when needed and on reasonable terms. Such forward-looking
information reflects the Company's views with respect to future
events and is subject to risks, uncertainties and assumptions,
including the risks and uncertainties relating to the
interpretation of exploration results, risks related to the
inherent uncertainty of exploration and cost estimates and the
potential for unexpected costs and expenses and those other risks
filed under the Company's profile on SEDAR at www.sedar.com. While
such estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and
financing and general economic, market or business conditions,
failure to secure personnel and equipment for work programs,
adverse weather and climate conditions, risks relating to
unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters), risks relating to inaccurate geological assumptions,
failure to maintain all necessary government permits, approvals and
authorizations, failure to obtain surface access agreements or
understandings from local communities, land owners or Indigenous
groups, fluctuation in exchange rates, the impact of Covid-19 or
other viruses and diseases on the Company's ability to operate, an
inability to predict and counteract the effects of COVID-19 on the
business of the Company, including but not limited to, the effects
of COVID-19 on the price of commodities, capital market conditions,
restriction on labour and international travel and supply chains,
decrease in the price of rare earth elements, lithium, cesium and
other metals, loss of key employees, consultants, or directors,
failure to maintain community acceptance (including from the
Indigenous communities), increase in costs, litigation, and failure
of counterparties to perform their contractual obligations. The
Company does not undertake to update forward–looking statements or
forward–looking information, except as required by law.
SOURCE Monumental Gold Corp