VANCOUVER, BC, Aug. 10,
2022 /CNW/ - Monumental Minerals Corp.
("Monumental" or the "Company") (TSXV: MNRL) (FSE:
BE5) (OTC: MNMRF) is pleased to announce the results of a recently
completed satellite multispectral interpretation covering the Jemi
Heavy Rare Earth (HREE) Project ("Jemi"), located in Coahuila, Mexico, about 40 km south of the
Texas, USA border.
The Jemi Project hosts numerous REE occurrences containing
potentially economic concentrations of the high value magnetic REEs
including dysprosium (Dy), terbium (Tb), neodymium (Nd) and
praseodymium (Pr). The Project also contains anomalous grades of
tantalum (Ta), niobium (Nb), and zirconium (Zr). Jemi sits within
the North American Alkaline Igneous Belt, an under explored
north-south 3000 km long trend of alkaline igneous rocks and
carbonatites that are host to numerous REE, gold and other critical
element deposits.
ASTER satellite multispectral data was processed, imaged and
interpreted over the Jemi Project. The band for fluorite
(CaF2) and periclase (MgO) (Fig. 1a) may be associated
with REE-bearing minerals, as fluorite is a common accessory
mineral in HREE peralkaline systems, and periclase is a common
mineral where peralkaline magmas have altered limestone host rock.
Additionally, the combination of several spectral bands that
represent minerals including fluorite, pyrite, hypersthene,
epidote, garnet, and hemimorphite (a zinc mineral found in
carbonate replacement deposits in northern Mexico) correlate positively with REE
lithogeochemical results from surface grab samples. These bands,
plus REE grab sample concentrations were compared using a
supervised machine learning method to create a probabilistic map of
high REE concentrations in rocks at surface (Fig. 1b).
Jamil Sader, Monumental's CEO and
Director comments:
"The multispectral satellite results are a
valuable tool to assist with Monumental's exploration program in
Mexico. They have identified
several new locations of interest for REE mineralization within the
high-priority area at our Jemi Project, and will be followed up
with boots-on-the-ground exploration including mapping,
geochemistry, and geophysics. We are excited for the immediate
start of this next stage of exploration at the Jemi project, and
the drill targets that it will generate."
Both the fluorite/periclase spectral band and the machine
learning probability model further emphasise the 8 km2
high-priority area defined based on field observations, airborne
radiometrics, and known HREE mineral occurrences (see the Company's
news release dated May 3, 2022).
Additionally, within this high-priority area, the spectral
interpretation highlights discreet areas that may host
eudialyte-bearing alkaline dykes, veins, and dissemination.
Eudialyte is a Na, Ca, Fe/Mn, Zr silicate mineral that can contain
up to 10% REE (enriched in HREEs), and 12% ZrO2. The
ASTER satellite spectral data also identified several areas
prospective for copper/zinc/lead/silver carbonate replacement
deposits (CRD) on Monumental's exploration claims. This deposit
style is common in the region, and the La
Encantada silver mine, operated by First Majestic Silver, is
located along strike only 20 km southeast of Jemi. Monumental
cautions that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the
Jemi Project.
Previously collected geological, geochemical, and geophysical
results, plus this newly collected spectral interpretation data
will be used as guidance tools for the upcoming exploration program
that will commence during August, 2022. The program will include
field mapping, geochemical sampling, and surface radiometrics, and
will lay the foundation for HREE drilling targets, proposed to be
tested in Q4 2022.
Monumental enjoys a positive relationship with all local
landowners and stakeholders, and is committed to the continuing
engagement of local communities.
Jamil Sader, Monumental's CEO and
Director comments:
"The continued deterioration of trade and
political relationships between China and western countries, plus the high and
stable spot prices makes Jemi all the more significant in
potentially contributing to a home-grown source of REEs."
Rare earth element mineralization discovered to date at Jemi
exhibits characteristics and mineralogy consistent with peralkaline
intrusion-related deposits, which represent an important,
potentially economic style of HREE mineralization. Deposits of this
type are being explored and prepared for development in
Australia, Europe, and North
America. With the ongoing trade and political disputes
between the USA/the /western world
and China (the primary supplier
and refiner of REEs), as well as the sales of EV growing by
multiples, REE spot prices are near all-time highs (Fig. 2) and are
projected to maintain or increase in value for the foreseeable
future.
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.
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 cesium-lithium brine 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 completion of the follow-up work program on
the Jemi project which includes mapping, sampling, and surface
radiometrics and the expected outcomes, the potential drill targets
at Jemi, 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 Minerals Corp.