Phase 2 drilling at Monte Muambe rare earth project in Mozambique to start

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Phase 2 drilling at Monte Muambe rare earth project in Mozambique to start

Phase 2 drill programme at Monte Muambe rare earth project in Mozambique is set to commence. Altona Rare Earths revealed the plans and said the move follows after a Phase 1 drill programme, which got under way in October 2021, showed above-average rare earth element levels and two new mineralised areas.

According to the company, this next drilling will confirm indications found in Phase 1 and inform a maiden mineral resource estimate and scoping study. Monte Muambe is hosted in a 4km diameter circular carbonatite intrusion and is located in Tete Province, Northwestern Mozambique. The project is held under Prospecting Licence 7573L. The tenement has a surface area of 39.39 km2, within which there are no human settlements.

Commitment

Altona entered into an agreement on 24 June 2021 to acquire up to 70% of the project by fulfilling phase work commitments and payments to its original owners. Phase 1 comprised 590 m of diamond drilling and 2 541 m of reverse circulation drilling.

Phase 2 drilling will start in April and endure for 12 months. While Altona spent £580 000 on Phase 1, it plans to spend about £1.2-million on Phase 2. The project has the potential to host a REE deposit amenable to open pit mining.

Mozambique is a stable country with a well-developed exploration and mining industry, trained workforce, and available drilling and exploration contractors. The project is also located in a province of Mozambique which hosts several operating coal mines, a major iron mining and steel manufacturing project, and many exploration projects for a wide range of commodities.

 

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