Results Include 2.4% Total Rare Earth Oxide
And 0.94% Heavy Rare Earth Oxide
VANCOUVER, BC, Feb. 23,
2023 /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. Rock sampling across a
broad area has discovered high grades of the critical magnet metals
dysprosium (Dy) and terbium (Tb) and defined a series of high
priority drill targets.
Four months of exploration has been completed at Jemi, with the
objective to delineate discreet drill targets. Recent work
consisted of detailed geological mapping, regional stream sediment
sampling, ground radiometric geophysical surveys, and
lithogeochemical sampling. Exploration focused on the Jemi Dykes
and Veladora North areas, which host peralkaline intrusion related
REE mineralization.
To date, 188 assays from rocks collected at Jemi Dykes and
Veladora North have been received while results for 177 samples
from Veladora North are pending. Of the 188 samples with assay
results, over one third (76 samples) returned values greater than
0.15% total rare earth oxide (TREO1), including 5
samples that returned values greater than 1.0% TREO1 to
a maximum value of 2.4% TREO1 (sample number 22309)
(Table 1). The average TREO for all samples is 0.21%, and a
minimum value of 9 parts per million (ppm), which was returned in
an iron-oxide/calcite vein.
Dysprosium oxide (Dy2O3) and terbium oxide
(Tb2O3) in samples classified as peralkaline
range between 959 ppm and 3 ppm; and 147 ppm and 0.6 ppm,
respectively. The average concentration for
Dy2O3 is 83 ppm; and the average for
Tb2O3 is 13 ppm. Light rare earth oxides,
namely neodymium oxide (Nd2O3) and
praseodymium oxide (Pr2O3), return values
that range between 3173 ppm and 19 ppm; and 824 ppm and 5.5 ppm,
respectively. The average concentration for
Nd2O3 is 359 ppm; and for
Pr2O3 it is 103 ppm.
Heavy rare earth oxide (HREO2) concentration greater
than the 75th percentile is 1062 ppm in
peralkaline-classified rocks (31 samples), including ten that
exceed 2500 ppm. These values are in trend with LREO3
concentrations and the ratio of HREO2 to
LREO3 is consistently on average 1:2, suggesting similar
REE-hosting phases in the peralkaline rock samples.
Dr. Jamil Sader, CEO and Director
comments:
"Mapping, sampling and geophysics at Jemi Dykes and Veladora
North has resulted in the definition of a new previously unknown
zone of mineralized dykes. Of most significance, we have discovered
what we believe to be some of the highest grades of HREO, including
the magnet metals dysprosium and terbium, of any rocks in
North America. We anticipate
having drill locations mapped out at both the Jemi Dykes and
Veladora North areas before Q2 2023."
________________________________________________
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
deposits, rocks must be peralkaline in order for HREE bearing
silicate minerals such as eudialyte to crystalize. Eudialyte is the
dominant REE host mineral at Jemi, that can contain up to 10%
RE2O3 (enriched in HREEs), and 12%
ZrO2.
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 975 ppm
Ta2O5 and greater than (>) 3576 ppm
Nb2O5, with an average concentration of
Ta2O5 of 60 ppm and
Nb2O5 of 665 ppm.
At the Jemi Dykes area, the highest REE concentrations are from
eudialyte +/- aegirine rich dykes that are clustered in an
approximately 150 m wide;
1600 m long zone oriented parallel to
the La Vasca intrusive complex
(Figure 1). These mineralized dykes are commonly between 0.5
to 2 m in width, with the higher
grade ones situated in the southern part of the survey area.
Three-dimensional airborne magnetics modeling suggests that magma
sources for the mineralized dykes are at a shallow depth (less than
300 m), and that they are spatially
associated with the 150 m wide zone
of mineralized dykes observed at the surface. These zones of
favourable dyke geology, lithogeochemistry, and geophysics will be
the focus of drilling.
Rare Earth Element Value and Applications for the Energy
Transformation
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 in less than 2 years, and it is expected that there
will be a shortage of the metals until at least 20302 -
dominantly due the increase in demand for neomagnets for EV motors,
as well as other types of electric motors (e.g., wind turbines,
water pumps). 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).
_______________________________________________________
2
Macquarie Rare Earth Market Research, December 9, 2021
The four key REEs represent 94% of the REE market by value (Nd,
Pr, Dy, and Tb), all of which are enriched at Jemi. Concentrations
of Nb and Ta also meet the threshold to be considered potentially
economically significant (Table 2).
Methodology and QA/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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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 assay 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
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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
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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
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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
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or expectations, cost escalation, unavailability of materials and
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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.