REG - Altona Rare Earths - Heavy Rare Earths Enrichment Confirmed

Altona Rare EarthsAnnouncement

Today 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:20260604:nRSD9178Ga&default-theme=true

RNS Number : 9178G  Altona Rare Earths PLC  04 June 2026

4 June 2026

 

 

ALTONA RARE EARTHS PLC

("Altona" or "the Company")

 

REE assay results confirms heavy rare earths enrichment associated to
fluorspar

 

Altona (LSE:REE)(OTCQB:ANRCF), the Africa focused critical minerals
exploration and development company, is pleased to announce the receipt of
rare earths assay results from its 2025 drilling campaign at Monte Muambe.

 

Highlights

 

 * All rare earths assay results from the 2025 drilling programme are now in
hand, and geological modelling of heavy rare earths ("HREE") mineralization
associated to fluorspar has started.

 * Wide significant intercepts have been observed, with up to 30m at 2,677ppm
HREO((1)), and HREO/TREO((2)) ratios ranging from 21% to 77%, confirming HREE
enrichment is widespread across the Fluorite Zone.

 * Up to 567ppm dysprosium oxide in individual drilling intercepts.

 * Xenotime, a HREE mineral, identified for the first time at Monte Muambe,
provides a potential pathway to producing a marketable HREE concentrate as a
by-product of fluorspar processing.

 

Received results are from samples from diamond drilling and reverse
circulation drilling holes at the Fluorite Zone, Southern Extension, Kudu and
Python. All drilling samples were reassayed for rare earths following the
identification of HREE enrichment in association to fluorspar announced on 14
April 2026.

 

Individual dysprosium grades reach up to 567ppm Dy(2)O(3), and the significant
intercepts weighted average is 172 ppm Dy(2)O(3), which is with the usual
range for HREE projects.  Dysprosium is a highly sought-after HREE used in a
wide range of high technology and defence applications, and the main value
driver for this mineralisation. Significant intercepts are listed in the table
below.

 

Mineralogy results from a representative fluorspar ore sample currently
undergoing metallurgical testing indicate the presence of xenotime, a HREE
mineral reported for the first time at Monte Muambe and absent from the main
rare earths resource (which is primarily a neodymium and praseodymium
resource). Critically, this suggests that a HREE concentrate could potentially
be recovered during fluorspar processing at materially lower incremental cost
than a standalone HREE operation, which could significantly enhance the
overall fluorspar project economics.

 

 Hole Number  From (m)  Length (m)  HREO ppm  HREO/TREO %
 MM127        25        9           3,540     59%
 MM130        30        15          1,996     36%
 MM131        29        12          3,223     77%
 MM145        13        11          1,371     24%
 MM146        11        16          2,015     49%
 MM148        12        14          1,848     21%
 MM154        4         14          1,912     26%
 MM156        0         30          2,677     57%
 MM161        13        11          1,359     41%
 MM163        1         5           2,404     65%
 MM165        0         18          1,264     40%
 MM169        71        4           2,916     47%
 MM173        63        13          1,538     22%
 MM183        26        7           1,755     23%

 

Next steps

 

Subject to the outcome of ongoing geological modelling, the Company expects to
determine in the coming weeks whether a dedicated HREE mineral resource
estimate is warranted.

 

Cedric Simonet, CEO, commented: "These results are highly significant.
Widespread HREE enrichment in association with fluorspar, combined with the
first identification of xenotime at Monte Muambe, opens a compelling pathway
to HREE production as a by-product of our fluorspar operation. If confirmed by
ongoing metallurgical work and geological modelling, this would meaningfully
enhance the project's value proposition and add a fourth strategic commodity
to Monte Muambe's already exceptional multi-commodity profile."

 

(1)  HREO is the sum of all rare earth elements from samarium to yttrium,
expressed as oxide.

(2)  TREO is the sum of all rare earth elements from lanthanum to yttrium,
expressed as oxide.

 

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.

 

-ends-

 

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

 

Altona Rare Earths Plc

Cédric Simonet, CEO                                                +44 (0) 7778 866 108 (cs@altonare.com)

Louise Adrian,
CFO
                   +44 (0) 7721 492 922 (la@altonare.com)

 

Strand Hanson (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 (LSE:REE)(OTCQB:ANRF) 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. Published JORC mineral resource estimates include:

 

·    13.6Mt at 2.42% TREO

·    3.48Mt at 20.6% CaF(2)

·    11.73Mt at 54.7g/t Ga(2)O(3)

 

The project is held under a 25-year mining licence and has received US
Government support in the form of a US$ 1.875 million grant from USTDA to
advance the rare earths component through the prefeasibility stage.

 

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  UPDDGGDLLUGDGLX



            Copyright 2019 Regulatory News Service, all rights reserved