REG - Altona Rare Earths - MONTE MUAMBE: Gallium and Fluorspar Update

Altona Rare EarthsAnnouncement

15/08/2025 07:00

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RNS Number : 4329V  Altona Rare Earths PLC  15 August 2025

15 August 2025

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

 

Monte Muambe: high gallium grade AND

gallium - fluorspar association confirmed

 

Altona Rare Earths PLC (LSE: REE), the resource exploration and development
company advancing critical raw materials projects in Africa, is very pleased
to announce that it has received from SGS Johannesburg partial mineralogy and
geochemistry results of Monte Muambe gallium samples.

 

Laboratory results on two fenite samples collected in June 2025 confirm
previous gallium results obtained using the Company's pXRF analyser, with
grades of 210 and 269 g/t respectively.

 

In addition, mineralogy results identified the presence of fluorspar in both
gallium-containing samples, with 34.00 and 26.38% Fluorite (equivalent to
CaF(2)) respectively. The presence of fluorite had not been detected in the
initial pXRF analyser assays because this device cannot analyse the chemical
element fluorine.

 

It is also very encouraging that the fluorite content of these samples is
significantly above the cutoff grade intended for the resource estimate to be
prepared later this year (cut-off grades ranging from 15% to 20% CaF(2) will
be tested). The Company will therefore consider these rocks as potential ore
for the fluorspar project. In addition, the samples contain over 45% of
K-feldspar, a mineral that previous metallurgical testing has shown can easily
be separated from fluorite, auguring of enhanced recoveries for this type of
ore.

 

Mineralogical characterisation continues with the aim of confirming which
mineral species contains gallium. Due to the chemical properties of this
element, gallium is unlikely to be hosted in fluorite. During the flotation
process, gallium concentration is therefore expected to increase in the
tailings (the left-over materials) after fluorite is extracted. This may
potentially enhance the economic and technical feasibility of recovering
gallium from the flotation tailings.

 

These results also provide additional validation of the use of gallium for
fluorspar exploration, which resulted in the discovery of new fluorspar
outcrops announced on 28 May 2025 (assay results announced on 7 July 2025),
and further strengthens the Company's confidence in increasing the fluorspar
resource base through additional surface exploration and drilling planned this
quarter.

 

Gallium is a rare metal usually extracted as a by-product from zinc and
bauxite ore and is used in

a wide range of electronic and high-technology applications such as radars,
light diodes and

semiconductors. Because of the superior performance of electronic components
made with gallium, they are typically used in critically important military
applications. Gallium is considered a strategic raw material by several
jurisdictions including the European Union, with China having a quasi-monopoly
on its production. China banned exports of gallium to the United States in
December 2024, and this ban is still in place.

 

Cedric Simonet, CEO of Altona, commented:

 

"I am very excited to see that every fluorspar and gallium result coming back
from the field and from the lab is serving to only strengthen further this
project and its potential economics. I look forward to starting the resource
drilling campaign during the course of this quarter and updating shareholders
as this work progresses."

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

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 (Financial Adviser)
 
   +44 (0) 20 7409 3494

Christopher Raggett

 

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
seeking a strategic downstream rare earths partner to advance the 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 and
lithium battery electrolyte production, 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 is undertaking
mineralogical and metallurgical studies to assess the potential for gallium
production.

 

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.

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