Core drilling to commence the first week of
An extensive surficial exploration program was completed at Jemi, with the aim of defining discreet drill targets. Exploration focused on the Jemi Dykes and Veladora North prospect areas within Monumental's claims, which host peralkaline intrusion-related REE mineralization. The work consisted of detailed geological mapping, regional stream sediment sampling, ground radiometric geophysical surveys, and lithogeochemical sampling (see Company's news release dated
Dr.
"We are excited to initiate our maiden drill program at our
The goal of the drill program is to define and delineate the source of REE-mineralized (eudialyte +/- aegirine rich) intrusive dykes and sills. Dysprosium oxide (Dy2O3) and terbium oxide (Tb2O3) in surface samples within the priority areas that are classified as peralkaline (92 samples) range between 959 ppm and 4 ppm; and 147 ppm and 0.7 ppm, respectively. The average concentration for Dy2O3 is 110 ppm; and the average for Tb2O3 is 17 ppm. The magnetic light rare earth oxides, namely neodymium oxide (Nd2O3) and praseodymium oxide (Pr2O3), ranged between 3173 ppm and 30 ppm; and 824 ppm and 8 ppm, respectively. The average concentration for Nd2O3 is 467 ppm; and for Pr2O3 it is 132 ppm. These values are in trend with HREO2 concentrations and the ratio of HREO2 to LREO3 is consistently on average 1:2, suggesting similar REE-hosting phases across the project.
In addition to being REE-mineralized, the surface samples are also enriched with respect to tantalum (Ta) and niobium (Nb). Assays for these critical elements in all samples from the Jemi project returned values to 976 ppm Ta2O5 and greater than (>) 3576 ppm Nb2O5, with an average concentration of Ta2O5 of 114 ppm and Nb2O5 of 1114 ppm.
Because of their unusual physical and chemical properties,
The four key
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle,
On behalf of the Board of Directors,
/s/ "Jamil Sader"
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. |
4 |
Email: jsader@monumentalminerals.com
Or
Email: msali@monumentalminerals.com
Neither the
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 expected timing and completion of potential drilling at Jemi and the receipt of assays, potential outcomes and results of the drill program, 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.
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