REG - Altona Rare Earths - Update On Monte Muambe Gallium

Altona Rare EarthsAnnouncement

17/04/2025 07:00

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RNS Number : 3653F  Altona Rare Earths PLC  17 April 2025

17 April 2025

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

 

UPDATE ON MONTE MUAMBE GALLIUM

 

Altona (LSE: REE), a resource exploration and development company focused on
critical raw materials in Africa, is pleased to announce that, further to its
announcement of 1 April 2025, it has completed the review of its soil sampling
database at the Monte Muambe rare earths project in Mozambique. This review
was initiated, following the discovery of high-grade drilling intercepts, to
identify new possible occurrences of gallium. This work has identified 3 large
untested gallium soil anomalies.

 

Highlights

 * 3 large untested Ga soil anomalies identified, meriting additional assessment.

 * The presence of gallium is wider spread at Monte Muambe than initially
observed, which opens the possibility that some gallium occurrences may have
higher grades than those observed in pre-existing holes

 * Gallium is correlated with Neodymium and Praseodymium in drill samples,
therefore likely contained in a rare earths mineral, hence recoverable in rare
earths flotation concentrate.

 

Gallium Geochemistry Review

 

On 1 April 2025, the Company announced that it had discovered high-grade
gallium intercepts in holes MM039 and MM040 at the Monte Muambe rare earths
project in Mozambique. This led Altona to review its database in order to
understand better the distribution of gallium at the scale of individual drill
holes and of the entire carbonatite intrusion.

 

The Company has now completed this in-depth review of gallium geochemistry at
Monte Muambe, covering both drilling data and soil geochemistry data.

 

In holes MM039 and MM040, gallium shows an excellent correlation with
neodymium and praseodymium (Correlation coefficients 0.82 and 0.86
respectively). No correlation was observed with aluminium. These observations
strongly suggests that gallium is contained in one of the rare earths minerals
occurring at Monte Muambe. It is therefore expected to be recoverable in the
rare earths minerals flotation concentrate.

 

The potential recovery of gallium during the hydrometallurgy process remains
to be assessed through advanced metallurgical studies. Gallium recovery is
being integrated in on-going metallurgical studies for both rare earths and
fluorspar.

 

A review of gallium concentration in soil shows the presence of 3
discontinuous but well-defined anomalies, with gallium in soil up to 190 g/t
(see map below):

 * A linear 1.3 km long anomaly along the Western edge of the carbonatite
intrusion, the northern part of which corresponds to the Fluorite Zone.

 * A curved 2.2 km long anomaly along the Southeastern edge of the carbonatite
intrusion.

 * A 500m long anomaly located just East of Target 6 (hole MM040), on the
Northern edge of the carbonatite intrusion.

 

The geometry of the gallium anomalies clearly shows that they are associated
to major geological structures along the edge of the carbonatite intrusion.
The areas covered by these anomalies have not been drilled so far, except for
the northern part of the Western anomaly, which has seen legacy drilling for
fluorspar.

 

The spatial association of gallium soil anomalies with the Fluorite Zone
suggests that gallium may also be used as a path finder to locate new
high-grade fluorspar mineralisation.

 

The large untested gallium soil anomalies may indicate the presence of gallium
mineralisation at grades even higher than those observed in holes MM039 and
MM040, and require additional assessment, which will be carried out as soon as
possible and for which planning has started. This assessment will include
in-fill soil sampling, followed by trenching and reconnaissance drilling.

 

Cedric Simonet, CEO of Altona, commented: "I am very pleased with the soil
geochemistry results, which clearly show the presence of a large gallium
mineralised system at Monte Muambe, justifying a specific work program. These
anomalies being untested, this opens the possibility that mineralised zones
with higher grades than those observed so far exist, and that more exciting
gallium discoveries will be made in the near future.

 

The potential recovery of gallium as a co-product of rare earths, and as an
additional source of revenue, is also very encouraging, and we have adjusted
our on-going metallurgical testing program to assess this"

 

Figure 1: Ga soil results map. Black dots: Altona drill hole collars, black
triangles: legacy drill hole collars

 

Notes on assay methods:

 

Drilling samples: Ga was assayed by Intertek Laboratories by ICP-OES as part
of a multi-element package. Sampling, preparation and assaying are subject to
rigorous quality control checks performed by the laboratory and, separately,
by the Company.

 

Soil samples: Soil samples were prepared and assayed on site using the
Company's portable X-Ray Fluorescence ("pXRF"). 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 and Y, of Ga, as
well as of light elements relevant to carbonatites such as K, Mg and Si.
Duplicate 1m RC samples are prepared using plastic cups covered by a mylar
film and assayed 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 SiO2 blank and
various internal standards and certified reference materials with known Ga
content.

 

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 is a resource exploration and development company focused on critical
raw materials in Africa. The Company is listed on the Main Market of the
London Stock Exchange with the ticker "REE". The Company currently holds
copper, fluorspar and rare earths projects.

 

The Monte Muambe rare earths and fluorspar projects is located in Northwest
Mozambique. The Project was acquired in June 2021, and the Company has so far
drilled over 7,800m, and defined a maiden JORC Mineral Resource Estimate of
13.6 million tons at 2.42% TREO. A Competent Person Report including the
Scoping Study for Monte Muambe was published on 18 October 2023. The Project
is now at Prefeasibility Study stage, with a focus on metallurgical testing
for rare earths extraction.

 

The Company is also assessing the possibility of rapidly putting in production
high-grade fluorspar veins occurring at Monte Muambe along the western margin
of the rare earth bearing carbonatite intrusion.

 

Altona is presently diversifying its portfolio by acquiring a limited number
of critical raw material projects to complement Monte Muambe. The acquisitions
of the Kabompo South copper project in Zambia and of the Sesana copper-silver
project in Botswana, located just 25 km from MMG's Khoemacau Zone 5
copper-silver mine, represent the first steps towards the implementation of
this expanded strategy.

 

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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