REG - Altona Rare Earths - Monte Muambe Fluorspar And Gallium Update

Altona Rare EarthsAnnouncement

28/10/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251028:nRSb0172Fa&default-theme=true

RNS Number : 0172F  Altona Rare Earths PLC  28 October 2025

28 October 2025

 

 

ALTONA RARE EARTHS PLC

("Altona" or the "Company")

 

 

MONTE MUAMBE FLUORSPAR AND GALLIUM OPERATIONAL UPDATE

 

Altona Rare Earths PLC (LSE: REE), a resource exploration and development
company focused on critical raw materials in Africa, is pleased to provide an
operational update on the Monte Muambe fluorspar and gallium project in
Mozambique.

 

Highlights

 

·      High success rate for fluorine in soil assay results, with the
discovery of three new fluorspar targets

·      45% of diamond drilling core samples extracted so far show
visible fluorspar mineralisation

·      Significant gallium mineralisation encountered at the Python
target, with grades of up to 1,154 g/t Ga

·      Expansion of the drilling programme to include the newly
discovered fluorspar and additional drilling at Python

 

Three new fluorspar targets discovered

 

Altona is pleased to announce that it has received 231 out of 281 fluorine
assay results from the soil samples submitted to SGS South Africa. The samples
were selected for fluorine analysis based on their high gallium content
(>60 ppm Ga), in line with Altona's proven exploration strategy of using
gallium as a tracer for high-grade fluorspar.

 

Results show that 38% of these samples have fluorine concentrations in excess
of 5,000 ppm (equivalent to >10% CaF(2)), underpinning a very high success
rate.

 

Results received so far have allowed Altona to define three new targets:
Jambire, Jambire Mn and Kudu. Ground proofing has confirmed the presence of
fluorspar float and outcrops at each target. This justifies further
investigation through trenching and drilling. The 2025 drilling programme is
currently being amended and expanded to include these targets following such
encouraging results.

 

Figure 1 - Fluorspar ore bodies and targets at Monte Muambe

 

Drilling Update: Visible fluorspar in 45% of core samples extracted to date

 

To date, the Company has completed approximately 600 meters of diamond
drilling. Core samples will be split in order to produce representative
sub-samples, which will be sent to specific laboratories for geochemical
assays and metallurgical testing. The Company will use the services of
laboratories located in neighbouring South Africa, thus significantly reducing
sample logistics timelines compared to previous drilling campaigns.

 

As in previous campaigns, samples are also being routinely assayed using the
Company's pXRF analyser. While pXRF analysers cannot assay for fluorine, or
indeed fluorspar, fluorspar can be visually identified in the samples, and its
presence recorded during logging.

 

Approximately 45% (by length) of drilled cores extracted so far show visible
fluorspar. Final grades will be confirmed through laboratory assays.

 

The Company's pXRF analyser, however, has previously proven invaluable in
providing first pass Ce, La, Nd and Y assays and in guiding day-to-day
decisions on drilling and sampling. It is currently being used in the same
manner for Ga assays. Unprepared cores are assayed at 20 cm intervals along
the entire length of each hole.

 

So far, pXRF results at the Python Target, located on the southern edge of the
Monte Muambe carbonite, have confirmed the presence of consistent intervals
with gallium mineralisation. Significant intercepts from holes MM114, MM115,
and MM116 are summarised in the table below. These intercepts also show
visible fluorspar mineralisation.

 

 Hole number  Interval           Gallium (g/t)

                                 average and max
 MM114        Surface to 15.15m  98.64 (max 542)
 MM114        48.10 to 51.13m    98.56 (max 229)
 MM115        Surface to 15.79m  65.26 (max 570)
 MM116        10, 12, 17m depth  Narrow veins, max 1,154

 

Table 1 - Significant gallium intercepts from holes MM114, MM115, MM116

 

Additional drilling is being planned at the Python target to explore the
extent of gallium and fluorspar mineralisation along strike.

 

Ongoing Research Work on Gallium Distribution

 

The Company has received microXRF maps of gallium-fluorspar mineralisation
from the University of Exeter, where PhD student Jamie Church is currently
studying the geology and metallogeny of the Monte Muambe carbonatite, under
the supervision of Dr Sam Broom-Fendley. This research provides an invaluable
insight into gallium distribution in fluorspar ore and, with other mineralogy
study tools, will contribute to guide future gallium recovery metallurgical
studies.

 

 

Figure 2 - MicroXRF map of a fenite sample from Monte Muambe, showing
gallium-enriched feldspar (yellow) adjacent to fluorspar mineralisation.

 

 

Cédric Simonet, CEO of Altona, commented:

 

"Our Monte Muambe exploration team is tirelessly running several parallel work
streams aimed at increasing the resource base of the fluorspar project and
defining a potential gallium resource in the process. I am very pleased with
the progress achieved on the ground, in particular the discovery and
ground-truthing of 3 new fluorspar targets.

 

A further update will be provided to investors once sample batches start being
exported for assay and metallurgical testing."

 

 

Notes on assay methods:

 

Core samples were assayed on site using the Company's pXRF analyser. Altona
uses a Hitachi X-Met8000 pXRF analyser equipped with a 50kv anode and specific
programmes to enable the detection and quantification of Nd, Pr, La, Ce, Y and
Ga, as well as of light elements relevant to carbonatites and fenites such as
K, Mg, Al, and Si. Assays were performed directly on the core, at 20cm
intervals, and in accordance with the Company's Standard Operating Procedures.
All samples are assayed by a trained technician under standard conditions
using both the light elements programme (30s assay time) and the rare earths
programme (60s assay time). Regular quality control checks and calibration are
done using a SiO(2) blank and various internal standards and certified
reference materials with known rare earths and gallium content.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

To subscribe for RNS alerts, please visit: https://investors.altonare.com/
(https://investors.altonare.com/)

 

-ends-

 

Altona Rare Earths Plc

Cédric Simonet, CEO
                                       +44 (0) 7778 866
108

Louise Adrian,
CFO
+44 (0) 7721 492 922

 

Strand Hanson Limited (Financial
Adviser)
+44 (0) 20 7409 3494

Christopher Raggett

Imogen Ellis

 

Zeus Capital (Corporate
Broker)
                             +44 (0) 20 3829 5000

Simon Johnson

James Hornigold

 

 

About Altona Rare Earths Plc

 

Altona Rare Earths Plc (ticker: REE) is a London Main Market-listed
exploration and development company focused on unlocking the value of critical
raw materials across Africa. The Company is pursuing a diversified strategy,
targeting assets with potential for near-term monetisation alongside long-term
growth.

 

The multi-commodity Monte Muambe Project in northwest Mozambique is a highly
prospective tenement hosting rare earths, fluorspar, and gallium
mineralisation. Since acquiring the project in June 2021, Altona has drilled
over 7,800 metres, delivering a maiden JORC Mineral Resource Estimate of
13.6Mt at 2.42% TREO, secured a 25-year mining licence (granted December
2024), and published a Competent Person Report and scoping study for the rare
earths component of the project (October 2023). The Company is actively
engaging with the US Government, through USTDA, as a possible strategic
partner to advance the rare earths project through the prefeasibility stage.

 

In parallel, Altona is progressing plans to fast-track the development of
high-grade fluorspar veins identified along the western and southern margins
of Monte Muambe, with a targeted production of 50,000 tonnes per annum of
acid-grade fluorspar over a minimum 12-year mine life. Acid-grade fluorspar is
a key input in a wide range of applications, including hydrofluoric acid,
lithium battery electrolyte production, and nuclear fuel refining, placing
Altona in a strong position to supply this critical material.

 

The discovery of gallium mineralisation, with grades up to 550 g/t identified
to date, adds further value to Monte Muambe. The Company has established that
gallium will be concentrated in fluorspar production tailings and is assessing
its possible recovery as a by-product of fluorspar.

 

Altona's diversified portfolio also includes the Sesana Copper-Silver Project
in Botswana, strategically located just 25 km from MMG's Khoemacau Zone 5
copper-silver mine. Situated on a recognised regional contact zone for copper
deposits, Sesana represents a compelling exploration opportunity aligned with
Altona's growth strategy.

 

With a unique combination of critical raw materials projects, Altona is well
positioned to contribute to the global supply of highly sought commodities
essential for clean energy, high technology, defence and industrial
applications.

 

The Company and the Board remain actively focused on identifying and
evaluating additional projects that align with our investment profile and
strategic objectives, leveraging our extensive network and combined industry
experience to uncover compelling opportunities that can drive long-term
growth.

 

 

Competent Person Statement

 

The information in this RNS that relates to geology and exploration results is
based on information compiled and/or reviewed by Cédric Simonet, who is a
Member of European Geologist Federation (Eur. Geol. #739). Cédric Simonet is
the Chief Executive Officer and a Director of the Company. He has sufficient
experience which is relevant to the styles of mineralisation and type of
deposit under consideration and the activity which he is undertaking to
qualify as a Competent Person in terms of the 2012 Edition of the Australian
Code for the Reporting of Exploration Results, Mineral Resources and Ore
Reserves. Cédric Simonet consents to the inclusion in the RNS of the matters
based on his information in the form and contest in which it appears.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDEAEEXAFNSFAA



            Copyright 2019 Regulatory News Service, all rights reserved