Results Include 0.43% Total Rare Earth Oxide
And 0.17% Heavy Rare Earth Oxide, with several sample results
pending
VANCOUVER, BC, Dec. 14,
2022 /CNW/ - Monumental Minerals Corp.
("Monumental" or the "Company") (TSXV: MNRL)
(FSE: BE5) (OTCQB: MNMRF) is pleased to provide an
update on exploration at the Jemi rare earth element (REE) project
(the "Project") located in Coahuila, Mexico, about 40 km south of the
Texas, USA border. Recent work has
included mapping, lithogoechemistry, rock and stream sediment
sampling.
A four-month exploration program was completed at Jemi from
August 2022, with the objective to
reduce the search space from approximately 800 hectares, as defined
by an airborne radiometric and magnetic survey (see press release
dated May 3, 2022), to the
delineation of discreet drill targets. The program, which focused
on the Jemi Dykes and Veladora North areas known to host
peralkaline intrusion related REE mineralization, consisted of
detailed geological mapping, regional stream sediment sampling,
ground radiometric geophysical surveys, and lithogeochemical
sampling.
To date, 37 whole-rock analytical results from rocks collected
at the Jemi Dykes area have been received while results for 269
samples from Jemi Dykes and Veladora North areas are pending. Of
the 37 samples, 11 (eleven) returned values greater than 0.15%
total rare earth oxide (TREO1), including 6 samples that
returned values greater than 0.23% TREO1 and up to 0.43%
TREO1 (22KRP004) (Table 1).
Heavy rare earth oxide (HREO2) values (include
dysprosium (Dy) and terbium (Tb)), ranged between 1614 parts per
million (ppm) and 39 ppm in peralkaline pegmatites, averaging 447
ppm. Six samples exceeded 680 ppm, including three that exceeded
830 ppm (Table 1).
Light rare earth oxides (LREO3) values including
neodymium (Nd) and praseodymium (Pr), returned values up to 0.26%
and 0.23%, with values in trend with HREO2
concentrations suggesting similar REE-hosting phases in the
peralkaline rock samples.
Dr. Jamil Sader, CEO and Director
comments:
"Our exploration at the Jemi Dykes area of
the Jemi Project has defined where Monumental will drill to
delineate the rare earth, tantalum, and niobium bearing pegmatites.
This program has de-risked the geological complexity and provides
us with the confidence needed before moving to the next stage,
which is drilling. We anticipate the pending results of analytical
work will define further drill targets at the Veladora North
area."
_________________________
1 Total Rare Earth Oxides (TREO) includes: La2O3, Ce2O3,
Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3,
Tm2O3, Yb2O3, Lu2O3, Y2O3.
2 Heavy
Rare Earth Oxides (HREO) includes: Eu2O3, Gd2O3, Tb2O3, Dy2O3,
Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3,
3
Light Rare Earth Oxides (LREO) includes La2O3, Ce2O3, Pr2O3, Nd2O3,
Sm2O3.
Rock samples with the highest REE content are those that are
classified as peralkaline (sodium plus potassium concentrations are
greater than aluminum concentrations). In most hard rock HREE ore
deposit mineral systems, rocks must be peralkaline in order for the
crystallization of HREE bearing silicate minerals such as eudialyte
to occur. Eudialyte is a highly complex Na, Ca, Fe/Mn, Zr silicate
mineral that can contain up to 10% RE2O3
(enriched in HREEs), and 12% ZrO2. Geological mapping
has confirmed that samples with the highest TREO and HREO values
are from pegmatitic bodies. Three-dimensional airborne magnetics
modeling show that surface pegmatite bodies are spatially
associated with a numerous larger magnetic anomalies at depth that
may represent potential source intrusions (Figure 1).
Specific drill locations will target these pegmatites.
In addition to being REE-mineralized, samples are also
mineralized with respect to tantalum (Ta) and niobium (Nb).
Laboratory determination of these critical elements in all samples
from the Jemi project return values to 534 ppm
Ta2O5 and greater than (>) 3576 ppm
Nb2O5. Within the Jemi Dykes area
specifically, laboratory determinations return values in 4
pegmatite samples that are greater than 68 ppm
Ta2O5 and 919 ppm
Nb2O5, and one sample that returned values of
170 ppm Ta2O5 and 2560 ppm
Nb2O5. Concentrations of these elements meet
the threshold to be considered potentially economically
significant.
Rare Earth Element
Applications
Because of their unusual physical and chemical properties, the
REEs have diverse defense, energy, industrial, and military
technology applications. Demand for REEs is expected to
outstrip supply until at least 2030 dominantly due the increase in
demand for neomagnets for EVs and other electric motors (e.g., wind
turbines, water pumps). The four key REEs that represent 94% of the
REE market by value are Nd, Pr, Dy, and Tb, all of which are
enriched at Jemi. Neodymium-iron-boron magnets, which are the
strongest known type of magnets, are used when space and weight are
restrictions are present. The addition of HREEs terbium or
dysprosium to magnets can double their optimal operating
temperature from 80°C to 160°C. In addition, dysprosium with
praseodymium increases a magnet's coercivity (the resistance of a
magnetic material to change in magnetisation).
Methodology and QQA/QC
The analytical work reported on herein was performed by ALS
Canada Ltd. (ALS) at Hermosillo,
Mexico (sample preparation) and Vancouver, B.C. (ICP-MS fusion). ALS is an
ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical
laboratory and is independent of Monumental Minerals and the QP.
Rock samples were subject to crushing at a minimum of 70% passing 2
mm, followed by pulverizing of a 250-gram split to 85% passing 75
microns. A 0.1-gram sample pulp was then subject to multi-element
ICP-MS analysis via lithium-borate fusion to determine individual
REE content (ME-MS81). Monumental Minerals quality
assurance/quality control (QA/QC) program for field rock samples
includes the insertion of certified reference standards into the
sample sequence to confirm the accuracy of the reported results.
Monumental Minerals detected no significant QA/QC issues during
review of the data, and is not aware of any sampling, or other
factors that could materially affect the accuracy of the
results.
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.
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 and a 50.01% interest in the
Salar De Turi lithium project in Chile.
On behalf of the Board of Directors,
/s/ "Jamil Sader"
Jamil
Sader, Chief Executive Officer and Director
Contact Information:
Email: jsader@monumentalminerals.com
Or
Max Sali, VP Corporate
Development and Director
Email: msali@monumentalminerals.com
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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, receipt of additional results from Jemi, the
expected timing and completion of potential drilling 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.