REG - New Frontier Mineral - Binding Option to Acquire Advanced REE Project
12/02/2026 07:01
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RNS Number : 6380S New Frontier Minerals Limited 12 February 2026
New Frontier Minerals Limited / Index: LSE & LSE / Epic: NFM / Sector:
Industrial Metals and Mining
12 February 2026
New Frontier Minerals Limited
("NFM" or the "Company")
Binding Option to Acquire 90% of Advanced Pomme REE Project in Quebec,
Partnering with Metallium
New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to announce that it
has entered into a binding option and earn-in agreement providing NFM with the
right to acquire a majority (90%) interest in the Pomme REE Project from
Australian-listed company Metallium (ASX: MTM), which is located approximately
500 km northwest of Montréal in Québec around 100 km from the service town
of Lebel-sur-Quévillon. The Pomme Project consists of 43 mineral claims,
covering 2,400 ha. NFM holds the exclusive and binding option to acquire 90%
of the Pomme REE-Nb project.
Highlights
· Binding option and staged earn-in agreement executed to acquire 90% of
the Pomme Project, which is a large carbonatite-hosted Rare Earth Element
(REE) and Niobium (Nb) Project in Québec
· Strategic alignment and acquisition from Metallium Limited (ASX: MTM)
deepens the Harts Range vertical integration(1) and adds a complementary
Canadian asset to create a western world jurisdictional partnership
· Metallium to assist as processing and technology partner, supporting
metallurgical test work and downstream development
· Initial activities will target conventional metallurgical studies work
and Flash Joule Heating (FJH) test work on existing drill samples to assess
the potential for upgrading REE mineralisation
· Limited wide spaced scout drilling undertaken to date with high grade
known mineralisation and large areas remaining untested from reconnaissance
drilling
· Pomme REE Carbonatite key historical intercepts(2,8) include:
o Drillhole POM-23-03: 398m @ 0.54% TREO & 0.05% Nb(2)O(5) from 16m,
including:
§ 30.5m @ 1.13% TREO & 0.03% Nb(2)O(5) (from 311.5m) including
· 26.5m @ 1.45% TREO & 0.02% Nb(2)O(5)
§ 51m @ 0.92% TREO & 0.06% Nb(2)O(5) (from 216m) including
· 9m @ 1.21% TREO & 0.03% Nb(2)O(5) and
· 8.5m @ 1.62% TREO & 0.03% Nb(2)O(5)
§ 36m @ 0.92% TREO & 0.06% Nb(2)O(5) (from 174m) including
· 18m @ 1.16% TREO & 0.03% Nb(2)O(5)
o Drillhole POM-23-01: 513m @ 0.33% TREO & 0.08% Nb(2)O(5) from 32m,
including:
§ 17.5m @ 0.68% TREO & 0.08% Nb(2)O(5) (from 228.6m) including
· 7.6m @ 0.9% TREO & 0.02% Nb(2)O(5), and
o 94.8m @ 0.55% TREO & 0.05% Nb(2)O(5) (from 333.5m) including
§ 4.5m @ 1% TREO & 0.02% Nb(2)O(5), and
§ 4.9m @ 1.1% TREO & 0.02% Nb(2)O(5), and
§ 4.25m @ 1.28% TREO & 0.02% Nb(2)O(5), and
§ 17m @ 0.72% TREO & 0.06% Nb(2)O(5)
· The project comprises easily accessible claims via logging roads, has
access to hydro-electric power, relatively flat topography, and is supported
by extensive mining infrastructure and services(2)
· Low cost upfront consideration A$100,000 cash and A$200,000 in shares
with contingent payments to earn a majority project interest through staged
investment and technical milestones
· Government support and existing arrangements with local Cree First
Nations of Waswanipi (CFNW) community(2)
· NFM (OTCQB:NFMXF) has engaged New York-based Viriathus Investor
Advisory to expand its profile and actively promote the Company to US
investors and capital markets
Chairman Gerrard Hall commented: "This transaction materially advances NFM's
critical minerals strategy. Pomme is a large, carbonatite-hosted REE system in
a proven Québec district, with historical drilling having already confirmed
scale and continuity. The earn-in structure provides a capital-efficient
pathway for growth, while early integration of Metallium as processing and
technology partner further enhances the opportunity. The Board believes
Pomme's scale, location and upside strongly position NFM to deliver meaningful
shareholder value."
John Hannaford, Chairman of Metallium, said: "We are delighted to partner with
NFM in advancing and unlocking the full potential of the Pomme rare earths
project. New Frontier brings strong exploration capability and a disciplined,
value-driven approach to discovery, which we believe can materially enhance
the scale and quality of the mineralised system. When combined with
Metallium's proprietary processing technologies and a comprehensive
metallurgical test-work program, this partnership has the potential to support
value uplift across both the resource and downstream development pathways."
POMME CARBONATITE REE PROJECT
The Project is located approximately 500 km northwest of Montréal in Québec,
around 100 km from the service town of Lebel-sur-Quévillon, approximately 50
km west of the Waswanipi Cree First Nation community, and benefits from easy
access via established logging roads (Figure 1)(2). The Project comprises 43
mineral claims, covering approximately 2,400 ha area and is located 7km from
the world class Montviel Deposit, which has a total Indicated and Inferred
resource of 266 Mt @ 1.46% TREO and 0.14% Nb(2)O(5).
Figure 1: Regional location map showing Pomme Project, in Québec, Canada(2)
MTM Critical Metals (a 100% subsidiary of ASX:MTM) has completed a 13-hole
diamond drilling program totalling approximately 5,718 metres at its Pomme
Rare Earth Element and Niobium Project in Québec, Canada(2).
Carbonatite-hosted REE-Nb mineralisation was intersected in every drill hole,
confirming the presence of a large, laterally extensive mineralised system
exceeding 2 km² that remains open at depth (Figure 2).
The historic work program has significantly advanced the geological
understanding of the complex, with early interpretations indicating that
higher-grade mineralisation occurs within a ring structure surrounding a
magnetic ultramafic carbonatite core.
Drill holes POM-23-03, POM 23-01 and POM 23-07 to the southwest of the
mineralised carbonatite returned broad mineralised intervals with multiple
high-grade TREO intersections, supporting strong geological similarities to
the nearby world-class Montviel carbonatite deposit.
Importantly, large portions of this prospective ring structure remain untested due to the broad drill spacing, presenting clear potential for further discovery through follow-up drilling.
Figure 2: MTM scout drilling at the Pomme Project area overlain on airborne
magnetic image (TMI, 1VD)
STRATEGY AND DEVELOPMENT OPPORTUNITY
The Pomme Project provides NFM with a highly capital-efficient, low-risk entry
into a strategically located Canadian rare earth asset via a two-year option
structure requiring upfront consideration of A$100,000 in cash and A$200,000
in NFM shares and minimum annual expenditure of A$100,000 per annum during the
option period. This staged earn-in framework enables NFM to progressively earn
a majority (90%) interest through defined technical and investment milestones,
significantly limiting upfront capital exposure while preserving substantial
upside.
1. Initial work programs will focus on conventional metallurgical test
work alongside the application of Metallium's proprietary Flash Joule Heating
(FJH) technology to existing drill core, targeting the production of upgraded
rare earth concentrates and early validation of a scalable, low-cost
processing pathway that has the potential to materially enhance project
economics.
2. The Pomme Project presents compelling exploration upside, having
been subject to only limited, widely spaced drilling to date, with drill lines
approximately 500 metres apart(2). Despite this early-stage drill density,
high-grade rare earth element intersections have already been identified
within a large, laterally extensive carbonatite system, highlighting the
potential for significant growth through follow-up drilling targeting near
surface higher grade zones of rare earth mineralistion.
The existing results indicate that higher-grade zones of mineralisation remain
open, providing New Frontier Minerals with a strong opportunity to materially
expand the scale and grade of mineralisation through systematic infill and
step-out drilling programs.
METALLIUM TECHNOLOGY PARTNERSHIP
The acquisition deepens the Harts Range vertical integration with MTM(1), adds
a highly complementary Canadian asset, and creates a compelling Western-world
partnership with MTM across Australia and Canada, delivering value for
shareholders.
NFM's binding commercial framework with Metallium also establishes a strategic
technology partnership that is directly applicable to the advancement of the
Pomme REE-Nb Project in Québec. Under this framework, MTM's proprietary Flash
Joule Heating (FJH) technology has demonstrated encouraging sighter
beneficiation results on raw rare earth ore, producing high-grade, Dy/Tb-rich
concentrates without conventional flotation, acid leaching or
reagent-intensive processing.
The REE concentration enhancement and impurity rejection results observed
through the aforementioned FJH test work indicate potential to support
alternative downstream processing pathways for carbonatite-hosted rare earth
projects such as Pomme, compared to conventional techniques. Alignment with
MTM provides NFM with early integration of advanced metallurgical test work,
access to MTM's Texas Technology Campus for testing, and a clear potential
pathway to Western-aligned rare earth supply chains, including U.S. magnet and
defence markets, reinforcing the strategic value of the Pomme Project within a
vertically integrated rare earth development strategy.
NEXT STEPS
Preliminary metallurgical test work
Selection of diamond drill core for characterisation tests and accelerate
metallurgical assessment on existing diamond core samples, utilising
conventional metallurgical test work and tailored MTM Flash Joule Heating
(FJH) processing technology to beneficiate and upgrade REE sample.
Model geology, drilling and target high-grade mineralisation
Integration of geological logging, assay results and geophysics into 3D model
and identification of continuous higher grade zones for follow-up drilling.
OPTION AND EARN-IN TERMS
The Pomme Project consists of 43 mineral claims, covering 2,400 ha. New
Frontier Minerals holds the exclusive and binding option to acquire 90% of the
Pomme REE-Nb project from Metallium.
Key Terms Summary - Pomme Rare Earth Project Option & Earn up to 90%
interest in the project tenements from Metallium Ltd (via its option to
acquire 100% of Critical Element Exploration Pty Ltd, holder of the GeoMega
option).
Option Terms and Earn-in Terms
Option Fee:
· A$100,000 cash (A$50,000 already paid as an exclusivity deposit)
· A$200,000 in NFM shares, (issued at 5-day VWAP, 6-months escrow)
· Option Period: Commences on access to historic drill samples for
24-month duration with exclusive rights to manage exploration and technical
work during the option period
Stage 1 - Option Exercise (Initial Earn-In)
Upon exercise of the option at any time during the Option Period (subject to
conditions precedent), NFM must pay the following option exercise fee:
· Cash: A$150,000
· Equity: A$200,000 in NFM shares (20-day VWAP, 6-month escrow)Result:
Entry into Joint Venture and commencement of staged earn-in
· Minimum annual expenditure of A$100,000 per annum
Exercise of the Option is conditional upon the satisfaction (or waiver as
applicable) of the following conditions precedent:
· Due diligence: completion of financial, legal and technical due
diligence on the Tenements, to the absolute satisfaction of NFM;
· Third party approvals: the Parties obtaining all third party approvals
and consents, necessary to lawfully complete the matters set out in this
Agreement;
· Deeds of assignment and assumption: MTM, NFM executing a deed of
assignment and assumption in relation to all material agreements;
· Joint Venture Agreement: the Parties entering into a definitive Joint
Venture Agreement consistent with the terms and conditions set out in the
binding Agreement;
· MTM and/ or its subsidiaries being the 100% legal and beneficial owner
of the Tenements; and
· Technology Licence Agreement: MTM and NFM entering into a definitive
Technology Licence Agreement consistent with the terms and conditions set out
in the binding Agreement;
(together, the Conditions Precedent).
Stage 2 - JORC Resource Milestone (within 3 years)
· Minimum Spend: A$2.0 million
· Interest Earned: 80% project interest
· Milestone Payment: A$250,000 cash and A$250,000 in NFM shares (20-day
VWAP, 6-month escrow) upon earning an 80% interest
Stage 3 - Pre-Feasibility Study Milestone (within 5 years)
· Minimum Spend: A$3.0 million
· Interest Earned: 90% project interest
· Milestone Payment: A$250,000 cash and A$250,000 in NFM shares (20-day
VWAP, 6-month escrow) upon earning a 90% interest
Residual Interest & FJH Royalty
· Vendor retains 10% free-carried interest to DFS
· If diluted below 10%, interest converts to a 1.5% NSR royalty on
material processed through Metallium's FJH facility
· Existing third-party royalties (GeoMega/Niogold) remain in place
Technology Alignment
· Metallium retains ownership of its Flash Joule Heating (FJH)
processing technology
· Parties may enter into a separate technology licence agreement,
including per-tonne fees, annual licence fees, and royalties (commercial terms
to be negotiated)
ENDS
This announcement was approved for release by the Board of New Frontier
Minerals Ltd.
REFERENCES
1) 18 November 2025 - NFM ASX Release "Binding Commercial Framework with
Metallium Post Exceptional Heavy Rare Earth Results from Harts Range"
2) 4 October 2023 - MTM ASX Release "Investor Update Presentation Deck
Exploration Success at the Pomme REE-Nb Project in Québec"
3) 28 September 2023 - MTM ASX Release "High grade total rare earth
element oxide (TREO) drilling results returned over significant widths at the
Pomme REE-Nb Project, Québec"
4) 9 October 2023 - MTM ASX Release "Pomme Project drilling returns more
rare earths intercepts. Assay results up to 2.72% (27,200ppm) TREOs"
5) 24 October 2023 - MTM ASX Release "Pomme Project drilling identifies
new zones of rare earth and niobium mineralisation"
6) 15 November 2023 - MTM ASX Release "Pomme Project drilling identifies
new zones of rare earth and niobium mineralisation within carbonatite complex"
7) 3 January 2024 - MTM ASX Release "New broad zones of REE-Niobium
mineralisation identified within Pomme Project carbonatite complex"
8) ALS Canada lab assay results, Montreal, QC, Canada - job certificate
VO23203086 (10 September 2023)
For further information, please contact:
New Frontier Minerals Limited +61 8 6558 0886
Gerrard Hall (UK), Chairman
S. P. Angel Corporate Finance LLP +44 (0)1483 413500
(Corporate Broker)
Ewan Leggat +44 (0) 20 7409 3494
St Brides Partners Ltd +44 (0)20 7236 1177
(Financial PR)
Ana Ribeiro and Charlotte Page
About New Frontier Minerals
New Frontier Minerals Limited is an Australian-based focussed explorer, with a
strategy to develop multi-commodity assets that demonstrate future potential
as an economic mining operation. Through the application of disciplined and
structured exploration, New Frontier has identified assets deemed core and is
actively progressing these interests up the value curve. Current focus will be
on advancing exploration activity at the Harts Range Niobium, Uranium and
Heavy Rare Earths Project which is circa 140km north-east from Alice Springs
in the Northern Territory.
Other interests include the NWQ Copper Project, situated in the copper-belt
district circa 150km north of Mt Isa in Queensland.
New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".
Competent Persons Statement
The scientific and technical information in this announcement, which relates
to exploration results, preliminary sequential metallurgical results and the
geology of the deposits described, is based on information compiled and
approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian
Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the
requirements of a Competent Person as defined by the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience
relevant to Rare Earth Elements (REE), industrial mineral copper
mineralisation types, as well as expertise in the quality and potential mining
methods of the deposits under consideration. Additionally, he has 25 years of
experience in the estimation, assessment, and evaluation of exploration
results and mineral resource estimates, which are the activities for which he
accepts responsibility. He also successfully completed an AusIMM Online Course
Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM
Resources and was engaged by New Frontier Minerals Limited to prepare the
documentation for several prospects, specifically those within the Harts Range
Prospects upon which the Report is based.
Furthermore, the full nature of the relationship between himself and New
Frontier Minerals Limited has been disclosed, including any potential
conflicts of interest. Mark Biggs is a director of ROM Resources, a company
that is a shareholder of New Frontier Minerals Limited, and ROM Resources
provides occasional geological consultancy services to New Frontier Minerals
Limited. The Report or excerpts referenced in this statement have been
reviewed, ensuring that they are based on and accurately reflect, in both form
and context, the supporting documentation relating to exploration results and
any mineral resource estimates. The release of the Report and this statement
has been consented to by the Directors of New Frontier Minerals Limited. Mr
Biggs consents to the inclusion in this announcement of the matters based on
his information and supporting documents in the form and context in which it
appears.
Forward Looking Statements
Certain information in this document refers to the intentions of New Frontier
Minerals Ltd, but these are not intended to be forecasts, forward-looking
statements, or statements about future matters for the purposes of the
Corporations Act or any other applicable law. The occurrence of events in the
future is subject to risks, uncertainties and other factors that may cause New
Frontier Minerals Ltd's actual results, performance, or achievements to differ
from those referred to in this announcement. Accordingly, New Frontier
Minerals Ltd, its directors, officers, employees, and agents, do not give any
assurance or guarantee that the occurrence of the events referred to in this
announcement will occur as contemplated. The interpretations and conclusions
reached in this announcement are based on current geological theory and the
best evidence available to the authors at the time of writing. It is the
nature of all scientific conclusions that they are founded on an assessment of
probabilities and, however high these probabilities might be, they make no
claim for complete certainty. Any economic decisions that might be taken based
on interpretations or conclusions contained in this announcement will
therefore carry an element of risk. The announcement may contain
forward-looking statements that involve several risks and uncertainties. These
risks include but are not limited to, economic conditions, stock market
fluctuations, commodity demand and price movements, access to infrastructure,
timing of approvals, regulatory risks, operational risks, reliance on key
personnel, Ore Reserve and Mineral Resource estimates, native title, foreign
currency fluctuations, exploration risks, mining development, construction,
and commissioning risk. These forward-looking statements are expressed in good
faith and believed to have a reasonable basis. These statements reflect
current expectations, intentions or strategies regarding the future and
assumptions based on currently available information. Should one or more of
the risks or uncertainties materialise, or should underlying assumptions prove
incorrect, actual results may vary from the expectations, intentions and
strategies described in this announcement. No obligation is assumed to update
forward-looking statements if these beliefs, opinions, and estimates should
change or to reflect other future developments.
ASX Listing Rule 5.23.2
New Frontier Minerals Ltd confirms that it is not aware of any new information
or data that materially affects the information included in this market
announcement and that all material assumptions and technical parameters
underpinning the estimates in this market announcement continue to apply and
have not materially changed
APPENDIX A - POMME PROJECT DRILL HOLE DETAILS
Hole ID East North Elevation Dip Azimuth EOH Depth Status
(masl) ((o)) ((o)) (m)
POM-23-01 389,104.80 5,526,970.76 284.73 -50 000 558 Completed
POM-23-02 389,106.83 5,52,7472.61 283.13 -50 000 330 Completed
POM-23-03 389,063.23 5,527,503.65 283.32 -50 160 414 Completed
POM-23-04 389,300.03 5,527,958.58 279.79 -50 325 405 Completed
POM-23-05 389,611.51 5,526,765.31 276.92 -50 000 501 Completed
POM-23-06 389,919.77 5,526,988.35 275.74 -50 000 225 Completed
POM-23-07 389,524.14 5,527,208.74 279.75 -50 000 444 Completed
POM-23-08 389,599.10 5,527,688.46 280.54 -50 000 351 Completed
POM-23-09 389,586.18 5,528,102.00 280.05 -50 000 555 Completed
POM-23-10 390,116.14 5,528,057.95 274.31 -50 000 393 Completed
POM-23-11 390,021.82 5,527,638.36 276.28 -50 180 516 Completed
POM-23-12 390,052.07 5,527,693.66 275.93 -50 335 582 Completed
POM-23-13 388,878.14 5,527,594.96 284.03 -50 300 444 Completed
Notes:
1. Coordinate system North American Datum 1983 (NAD 83), UTM Zone 18 EOH
- End of Hole
APPENDIX B - SIGNIFICANT DRILL INTERSECTIONS
Drill Hole POM-23-01
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
31.75 545 513.25 0.33 0.08 1.8 22 1,000
31.75 37.85 6.1 0.29 0.14 4.7 25 2,000
45.3 49.9 4.6 0.25 0.05 2.1 25 2,000
54.6 59.5 4.9 0.26 0.10 2.0 25 2,000
66.0 95.6 29.6 0.31 0.12 2.5 24 2,000
Including: 88.5
92.5 4.0 0.55 0.14 1.9 20 5,000
103.0 115.0 12.0 0.21 0.11 2.3 23 2,000
118.0 147.0 29.0 0.41 0.09 2.2 20 2,000
Including: 122.5
127.0 4.5 0.69 0.11 2.4 18 5,000
154.0 164.5 10.5 0.29 0.03 1.8 29 2,000
167.5 170.5 3.0 0.28 0.06 2.0 26 2,000
174.5 191.0 16.5 0.36 0.14 2.0 19 2,000
Including:
175.6 176.55 0.95 1.74 0.0 0.47 12 10,000
198.5 212.0 13.5 0.25 0.16 1.9 26 2,000
216.15 259.5 43.35 0.45 0.12 2.3 19 2,000
Including:
228.6 232.7 4.1 0.80 0.08 0.5 16 5,000
238.5 246.1 7.6 0.91 0.20 3.6 15 5,000
262.5 274.8 12.3 0.27 0.08 3.3 27 2,000
283.5 304.5 21.0 0.33 0.06 0.2 24 2,000
309.75 314.0 4.25 0.22 0.03 1.6 23 2,000
317.0 448.0 131 0.47 0.05 1.4 21 2,000
Including:
335.0 355.0 20.0 0.68 0.06 1.2 20 5,000
336.85 339.5 2.65 1.47 0.02 0.4 13 10,000
370.0 382.55 12.55 0.50 0.08 1.9 22 5,000
402.5 411.9 9.4 0.86 0.02 0.8 19 5,000
407.0 411.9 4.9 1.11 0.02 0.0 17 10,000
421.35 428.3 6.95 0.96 0.0 0.0 18 5,000
421.35 424.0 2.65 1.48 0.0 0.0 15 10,000
461.5 463.5 2.0 0.26 0.05 2.6 22 2,000
466.5 483.0 16.5 0.40 0.03 1.2 19 2,000
Including:
476.0 478.3 2.3 0.90 0.02 0.6 17 5,000
512.5 538.5 26.0 0.31 0.07 1.5 22 2,000
542.1 545.0 1.9 0.29 0.04 0.3 24 2,000
555.0 558 3.0 0.32 0.04 0.3 21 2,000
(EOH)
Drill Hole POM-23-02
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
18.0 330.0 312.0 0.19 0.04 0.5 25 1,000
(EOH)
Including:
61.5 99.0 37.5 0.28 0.06 0.05 26 2,000
79.5 84.0 4.5 0.59 0.06 0.04 26 5,000
103.5 118.5 15.0 0.24 0.06 0.08 26 2,000
166.5 168.0 1.5 0.52 0.06 0.54 31 5,000
180.0 193.5 13.5 0.29 0.03 0.69 22 2,000
198.0 213.0 15.0 0.34 0.04 0.65 25 2,000
Drill Hole POM-23-03
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
16.25 414.0 397.75 0.54 0.05 0.63 23 1,000
(EOH)
52.0 127.0 75.0 0.22 0.05 0.61 22 2,000
133.0 382.0 249.0 0.73 0.05 0.58 23 2,000
139.5 169.5 30.0 0.67 0.06 0.91 22 5,000
Including:
154.5 159.0 4.5 1.12 0.03 0.12 19 10,000
174.0 210.0 36.0 0.92 0.04 0.68 26 5,000
Including:
184.5 202.5 18.0 1.16 0.03 0.49 27 10,000
216.0 267.0 51.0 0.92 0.05 0.19 25 5,000
Including: 228.0
254.0 237.0 9.0 1.21 0.03 0.06 27 10,000
262.5 8.5 1.62 0.03 0.46 20 10,000
289.5 303.0 13.5 0.53 0.06 0.26 22 5,000
311.5 342.0 30.5 1.13 0.03 0.18 22 5,000
Including:
321.0 337.5 26.5 1.45 0.02 0.02 22 10,000
346.5 358.3 11.8 0.81 0.11 1.13 19 5,000
Including:
349.5 357.0 7.5 0.97 0.12 1.31 19 10,000
367.5 379.1 11.6 0.68 0.06 0.51 25 5,000
Drill Hole POM-23-04
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
36.8 303.0 266.2 0.22 0.04 0.7 26 1,000
79.0 118.5 39.5 0.46 0.05 0.8 27 2,000
Including
94.75 4.25 0.88 0.07 0.7 28 5,000
90.5
126.0 147.0 21.0 0.25 0.12 1.3 26 2,000
Drill Hole POM-23-05
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
225.0 501.0 276.0 0.37 0.08 1.5 26 1,000
(EOH)
226.5 235.5 9.0 0.94 0.02 0.0 32 2,000
Including
229.4 233.2 3.8 1.46 0.01 0.0 31 10,000
240.0 255.9 15.9 0.25 0.05 0.8 30 2,000
261.0 271.5 10.5 0.22 0.15 1.6 30 2,000
292.5 369.0 76.2 0.31 0.08 1.2 26 2,000
375.0 432.0 57.0 0.47 0.10 1.0 23 2,000
Including
381.5 384.9 3.4 1.99 0.02 0.0 22 10,000
404.4 415.5 11.1 0.83 0.04 0.3 21 5,000
437.5 501.0 63.5 0.48 0.06 2.7 23 2,000
(EOH)
Including
439.0 451.7 12.7 1.04 0.04 1.4 20 10,000
Drill Hole POM-23-06
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
20.65 25.0 4.35 0.11 0.01 0.2 29 1,000
59.5 63.65 4.15 0.12 0.03 0.9 30 1,000
76.0 77.5 1.5 0.74 0.03 0.0 40 5,000
80.5 88.0 7.5 0.10 0.03 0.1 31 1,000
123.5 130.5 7.0 0.14 0.04 1.6 27 1,000
156.0 160.6 4.6 0.16 0.04 2.3 27 1,000
163.7 168.0 4.3 0.16 0.04 2.0 27 1,000
173.5 182.2 8.7 0.17 0.06 3.0 30 1,000
191.7 197.5 5.8 0.19 0.02 2.6 27 1,000
208.5 223.5 15.0 0.19 0.08 1.4 29 1,000
Drill Hole POM-23-07
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
18.8 82.2 63.4 0.27 0.10 1.28 29 1,000
including:
18.8 36.15 17.35 0.33 0.10 0.65 29 2,000
62.2 73.5 11.3 0.30 0.08 1.65 29 2,000
133.0 162.0 29.0 0.34 0.11 1.75 29 2,000
including:
144.5 146.0 1.5 1.07 0.19 0.85 24 10,000
170.5 190.8 20.3 0.79 0.03 0.70 24 5,000
Including:
170.5 172.1 1.6 1.25 0.06 1.98 20 10,000
181.85 186.80 4.95 1.26 0.02 0.01 23 10,000
190.8 237.0 47.8 0.30 0.07 1.15 27 2,000
including:
213.0 214.5 1.5 1.40 0.11 0.01 22 10,000
249.0 355.5 106.5 0.27 0.04 0.93 26 2,000
including:
331.5 336.0 4.5 0.53 0.06 0.83 26 5,000
378.0 425.5 47.5 0.42 0.05 1.12 25 2,000
including:
387.0 393.0 6.0 0.60 0.06 1.58 25 5,000
401.9 402.9 1.0 1.80 0.04 0.73 22 10,000
419.5 420.75 1.25 3.34 0.03 1.58 19 10,000
439.0 444.0 EOH 5.0 0.31 0.12 1.89 29 2,000
Drill Hole POM-23-08
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
15.55 20.5 4.95 0.23 0.05 0.6 24 2,000
24.0 25.5 1.5 0.70 0.0 6.2 19 5,000
122.0 271.5 149.5 0.32 0.05 1.0 24 1,000
122.0 140.0 18.0 0.29 0.06 0.5 25 2,000
including:
138.5 140.0 1.5 0.60 0.05 1.6 22 5,000
146.0 257.0 111.0 0.35 0.05 1.1 24 2,000
including:
171.5 174.5 3.0 0.73 0.05 0.5 20 5,000
204.5 216.5 12.0 0.73 0.06 1.3 22 5,000
including:
206.0 207.5 1.5 1.14 0.05 2.9 20 10,000
215.0 216.5 1.5 1.31 0.06 2.2 21 10,000
262.5 270.0 7.5 0.33 0.05 0.5 26 2,000
Drill Hole POM-23-09
From (m) To (m) Length (m) Grade Nd+Pr (% TREO) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
24.0 75.0 51.0 0.16 0.04 1.7 24 1,000
including:
30.0 47.0 17.0 0.21 0.05 3.4 24 2,000
79.5 112.5 33.0 0.12 0.04 1.5 30 1,000
123.0 151.0 28.0 0.16 0.06 2.8 31 1,000
including:
130.5 135.5 5.0 0.24 0.03 2.7 37 2,000
156.0 166.5 10.5 0.16 0.08 4.7 26 1,000
174.0 404.55 230.55 0.20 0.06 3.3 25 1,000
including:
225.0 231.0 6.0 0.25 0.03 4.3 29 2,000
237.0 244.5 7.5 0.21 0.07 1.0 28 2,000
250.95 253.15 2.2 0.47 0.03 1.4 26 2,000
259.5 286.5 27.0 0.28 0.08 4.2 23 2,000
310.5 325.5 15.0 0.30 0.05 3.1 24 2,000
including:
321.0 322.5 1.5 0.73 0.04 2.4 18 5,000
331.5 363.0 31.5 0.29 0.05 5.2 24 2,000
including:
360.0 361.5 1.5 0.64 0.05 2.8 17 5,000
367.5 390.0 22.5 0.25 0.03 3.2 23 2,000
including:
376.7 378.0 1.3 0.82 0.02 2.6 18 5,000
409.5 430.5 21.0 0.18 0.05 3.6 34 1,000
459.0 519.0 60.0 0.23 0.04 6.6 27 1,000
including:
474.2 476.7 2.5 0.57 0.02 22.9 31 5,000
474.2 482.3 8.1 0.35 0.03 14.3 29 2,000
495.2 516.0 20.8 0.30 0.03 8.0 25 2,000
545.75 555.0 (EOH) 9.25 0.20 0.01 2.2 22 1,000
Drill Hole POM-23-10
From (m) To (m) Length (m) Grade Nd+Pr (%) TREO Cut-off
(ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
15.8 92.0 76.2 0.13 0.07 3.7 28 1,000
101.3 120.0 18.7 0.09 0.05 2.0 27 1,000
183.0 192.0 9.0 0.13 0.07 0.9 28 1,000
195.0 199.5 4.5 0.16 0.15 2.3 28 1,000
226.5 250.5 24.0 0.17 0.07 2.4 29 1,000
including:
234.0 235.5 1.5 0.53 0.13 0.9 32 5,000
252.5 255.0 2.5 0.27 0.10 4.0 30 1,000
258.8 261.8 3.0 0.22 0.04 2.9 28 1,000
321.2 337.0 15.8 0.18 0.11 3.4 24 1,000
Drill Hole POM-23-11
From (m) To (m) Length (m) Grade Nd+Pr (% TREO) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
22.65 491.0 468.35 0.29 0.06 2.4 28 1,000
including:
22.65 33.0 10.35 0.26 0.05 2.9 29 2,000
54.0 60.0 6.0 0.29 0.03 2.2 29 2,000
70.45 74.95 4.5 0.48 0.03 3.0 27 2,000
79.5 138.0 58.5 0.28 0.07 1.9 32 2,000
including:
88.5 91.3 2.8 0.57 0.04 0.2 28 5,000
142.5 159.0 16.5 0.26 0.06 3.3 32 2,000
163.5 190.5 27.0 0.27 0.07 3.0 33 2,000
213.0 235.85 22.85 0.23 0.12 3.5 33 2,000
239.7 245.9 6.2 0.23 0.13 3.2 33 2,000
252.0 326.75 74.75 0.47 0.06 2.3 25 2,000
including:
259.5 277.5 18.0 0.57 0.06 1.9 26 5,000
261.0 262.5 1.5 1.02 0.09 0.7 25 10,000
286.75 288.4 1.65 2.00 0.03 1.2 16 10,000
294.5 309.25 14.75 0.55 0.06 2.7 22 5,000
294.5 296.0 1.5 1.09 0.04 2.4 18 10,000
331.5 349.5 18.0 0.26 0.04 3.7 28 2,000
353.5 409.0 55.5 0.34 0.05 3.5 26 2,000
including:
384.0 390.0 6.0 0.55 0.06 5.2 23 5,000
422.5 478.5 56.0 0.35 0.05 1.9 26 2,000
including:
457.5 462.0 4.5 0.55 0.07 1.3 28 5,000
Drill Hole POM-23-12
From (m) To (m) Length (m) Grade Nd+Pr (% TREO) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
19.6 79.5 59.9 0.23 0.05 5.6 31 1,000
including:
21.0 33.0 12.0 0.25 0.14 4.9 31 2,000
37.5 60.0 22.5 0.24 0.05 5.6 31 2,000
64.5 79.5 15.0 0.25 0.03 6.3 30 2,000
83.5 582.0 (EOH) 498.5 0.22 0.09 2.9 29 1,000
including:
88.5 115.5 27.0 0.23 0.05 4.5 31 2,000
123.0 139.5 16.5 0.24 0.09 3.1 27 2,000
147.0 178.5 31.5 0.29 0.06 3.8 24 2,000
including:
148.7 151.4 2.7 0.58 0.02 0.1 16 5,000
207.0 238.5 31.5 0.25 0.04 3.8 31 2,000
258.0 280.5 22.5 0.24 0.05 3.7 31 2,000
316.5 345.0 28.5 0.26 0.11 2.2 29 2,000
349.5 369.0 19.5 0.25 0.09 2.8 28 2,000
including:
363.0 364.6 1.6 0.50 0.11 0.9 25 5,000
379.5 400.9 21.4 0.23 0.08 3.4 29 2,000
415.55 441.0 25.45 0.30 0.11 2.3 27 2,000
including:
415.55 417.0 1.45 0.52 0.05 5.6 28 5,000
420.0 421.5 1.5 0.56 0.31 0.6 24 5,000
424.1 425.2 1.1 1.00 0.14 0.5 23 10,000
462.0 488.0 26.0 0.28 0.08 1.9 29 2,000
537.0 558.0 21.0 0.28 0.11 2.3 29 2,000
including:
537.0 538.5 1.5 0.66 0.17 3.8 30 5,000
Drill Hole POM-23-13
From (m) To (m) Length (m) Grade Nd+Pr (% TREO) TREO Cut-off (ppm)
TREO (%) Nb2O5 (%) P2O5 (%)
22.5 27.0 4.5 0.22 0.04 0.3 20 2,000
32.4 37.5 5.1 0.51 0.04 1.6 23 2,000
including:
33.75 35.8 2.05 0.92 0.01 2.53 23 5,000
71.7 402.0 330.3 0.34 0.02 1.1 21 1,000
including:
75.7 93.0 17.3 0.52 0.03 0.4 20 2,000
84.0 93.0 9.0 0.71 0.02 0.1 18 5,000
84.0 85.0 1.0 2.09 0.02 0.0 16 10,000
90.75 93 2.25 1.15 0.04 0.1 20 10,000
97.6 115.5 17.9 0.39 0.03 0.3 20 2,000
including:
103.5 108.0 4.5 0.74 0.03 0.5 18 5,000
126.0 138.0 12.0 0.48 0.05 0.7 19 2,000
including:
130.5 135.0 4.5 0.68 0.10 0.7 18 5,000
159.0 211.5 52.5 0.30 0.03 1.1 22 2,000
217.4 252.3 34.9 0.39 0.02 1.3 21 2,000
including:
231.0 232.5 1.5 1.50 0.02 0.3 20 10,000
256.1 297.0 40.9 0.38 0.02 2.0 21 2,000
including:
267.0 277.5 10.5 0.62 0.03 1.7 21 5,000
273.0 274.8 1.8 1.03 0.02 0.6 21 10,000
301.5 327.0 25.5 0.40 0.02 0.8 21 2,000
including:
305.2 307.1 1.9 1.05 0.01 0.13 19 10,000
331.55 402.0 70.45 0.37 0.02 0.7 20 2,000
including:
363.0 370.4 7.4 0.69 0.01 0.8 18 5,000
366.0 367.35 1.35 1.48 0.0 0.9 16 10,000
381.0 382.5 1.5 1.15 0.01 0.8 16 10,000
417.95 420.75 2.8 1.0 0.03 0.2 17 5,000
Notes:
2. Downhole intervals shown, true width not known. Appropriate rounding
of grade values has been applied.
3. TREO (Total Rare Earth Oxide) grade includes CeO(2), Dy(2)O(3),
Er(2)O(3), Eu(2)O(3), Gd(2)O(3), Ho(2)O(3), La(2)O(3), Lu(2)O(3), Nd(2)O(3),
Pr(6)O(11), Sm(2)O(3), Tb(4)O(7), Tm(2)O(3), Yb(2)O(3) and Y(2)O(3) and is
calculated using standard oxide conversion factors for each element (see
Appendix C).
4. Nd+Pr (Neodymium-Praseodymium or NdPr) includes Nd(2)O(3) and
Pr(6)O(11). Shown as a percentage of TREO. Significant intersections are based
on 1,000ppm, 2,000ppm, 5,000ppm and 10,000ppm TREO cut-off grades with up to 2
consecutive samples of internal dilution.
APPENDIX C - JORC Compliance Tables Section 1 Sampling Techniques and Data
Criteria JORC Code Explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Diamond drilling was used to obtain a continuous rock core from the base
specific specialised industry standard measurement tools appropriate to the of cover to end of hole (EOH).
minerals under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad · Half-cut diamond drill core sampling with a diamond core saw to obtain
meaning of sampling. samples for assay.
· Include reference to measures taken to ensure sample representivity and · Samples typically represent 1.5 metres length downhole, with adjustments
the appropriate calibration of any measurement tools or systems used. for geological boundaries.
· Aspects of the determination of mineralisation that are Material to the · In the laboratory, samples are crushed, then pulverised to a nominal 85%
Public Report. passing 75 microns to obtain a homogenous sub-sample for assay.
· In cases where 'industry standard' work has been done this would be · Sampling was carried out using standard protocols and QAQC procedures and
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m is considered industry-best practice.
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant
disclosure of detailed information.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary air · Diamond drilling technique was employed.
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type, · NQ core size (core diameter 47.6 mm).
whether core is oriented and if so, by what method, etc).
· Standard inner tube core recovery method.
· Drill core was not oriented.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Core is routinely measured and compared with drilling depth to assess
results assessed. recovery.
· Measures taken to maximise sample recovery and ensure representative · Recovery is excellent, typically 100%.
nature of the samples.
· There is no apparent relationship between recovery and grade.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and geotechnically · Drill core has been geologically logged to a level of detail to support
logged to a level of detail to support appropriate Mineral Resource appropriate future Mineral Resource estimation.
estimation, mining studies and metallurgical studies.
· Logging is qualitative in nature.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography. · pXRF readings have been routinely taken to confirm REE mineralisation is
present and calibrate visual mineralisation estimates.
· The total length and percentage of the relevant intersections logged.
· Core photography has been routinely undertaken.
Criteria JORC Code Explanation Commentary
· 100% of the drill core and the relevant mineralisation intersections have
been logged.
· Drill core is currently stored at the field camp site.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core taken. · Half-core samples from diamond drill core were taken.
· If non-core, whether riffled, tube sampled, rotary split, etc and whether · Typical 1.5 metre length samples, locally adjusted to account for
sampled wet or dry. geological boundaries were bagged and submitted to the analytical laboratory
for sample preparation.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique. · Non-mineralised intervals (as identified by visual logging) were not
systematically sampled.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. · Samples were weighed, dried, crushed and pulverised to produce a 250g
assay charge with 85% passing 75 microns. This is considered industry-standard
· Measures taken to ensure that the sampling is representative of the in and appropriate.
situ material collected, including for instance results for field
duplicate/second-half sampling. · QAQC procedures involved the use of certified reference materials
(standards), blanks and ¼ core field duplicates which account for
· Whether sample sizes are appropriate to the grain size of the material approximately 8% of the total submitted samples.
being sampled.
· The sample sizes are considered appropriate for the style of rare earth
element and niobium mineralisation previously recorded for the area.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and laboratory · Drilling samples have been submitted to ALS Canada for a multi-element
procedures used and whether the technique is considered partial or total. assay technique (ME-MS61r) including REE using multi-acid (4 acid) digestion
with an ICP-MS or ICP-AES finish. Samples were also assayed using a whole rock
· For geophysical tools, spectrometers, handheld XRF instruments, etc, the technique (ME-XRF26) utilising fusion/XRF finish.
parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc. · Selected samples were also assayed for gold by fire assay with a AAS
finish (Au-AA25).
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of · Over-range REE samples were re-assayed by a lithium borate fusion
accuracy (ie lack of bias) and precision have been established. technique, analysed by ICP-AES (REE-OGREE) or analysed by ICP-MS (Nd-MS85).
· Over-range Nb samples were re-assayed by fusion/XRF (Nb-XRF10).
· The assay techniques are considered appropriate and are industry best
standard.
· The techniques are considered to be a near total digest, only the most
resistive minerals are only partially dissolved.
· An internal QAQC procedure involving the use of certified reference
materials (standards), blanks and ¼ core duplicates accounts for
approximately 8% of the total submitted samples.
· The certified reference materials used have a representative range of
values typical for REE and Nd mineralisation. Standard results for drilling
samples demonstrated assay values are both accurate and precise. Blank
results demonstrate there is negligible cross-contamination between
samples. Duplicate results suggest there is reasonable repeatability between
samples.
Criteria JORC Code Explanation Commentary
Verification of sampling and assaying · The verification of significant intersections by either independent or · Significant intersections have not been verified.
alternative company personnel.
· Primary data is collected digitally and is validated and stored in an
· The use of twinned holes. industry standard master database.
· Documentation of primary data, data entry procedures, data verification, · No adjustments have been made to primary assay data.
data storage (physical and electronic) protocols.
· Element oxide conversion calculations have been applied to assay results
· Discuss any adjustment to assay data. (see details below).
· Length-weighted intersections are reported.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar and · Drill hole collar locations have been surveyed using differential GPS
down-hole surveys), trenches, mine workings and other locations used in with an accuracy of approximately ±5mm.
Mineral Resource estimation.
· Downhole surveys have been completed using a non-continuous multishot
· Specification of the grid system used. REFLEX EZ-TRAC device.
· Quality and adequacy of topographic control. · The grid system used for is North American Datum 1983 (NAD 83), UTM Zone
18.
· Topographic control is based on differential GPS with an accuracy of
approximately ±5mm.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Reported results are from 4 diamond drill holes only, part of a
broad-spaced drilling grid (500m x 500m) over the target area.
· Whether the data spacing and distribution is sufficient to establish the
degree of geological and grade continuity appropriate for the Mineral Resource · Data spacing between drillholes is currently not suitable to establish
and Ore Reserve estimation procedure(s) and classifications applied. geological and grade continuity.
· Whether sample compositing has been applied. · No sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Results are from an angled drill hole and the orientation of the
possible structures and the extent to which this is known, considering the mineralisation structures is not known.
deposit type.
· Information is not yet available to determine if the orientation of the
· If the relationship between the drilling orientation and the orientation drill hole could potentially introduce a sampling bias.
of
key mineralised structures is considered to have introduced a sampling bias,
this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · Sample chain of custody is managed by the geological consultants on-site,
employed by Kintavar Exploration inc. (Kintavar).
· Sampling was carried out by Kintavar field staff at the project field
camp.
· Samples were transported to a sample preparation facility in the town of
Val d'Or by Kintavar field staff.
· Assay samples were managed and transported by ALS Canada.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · No audits or reviews have been completed.
· Sampling techniques are considered to comply with industry best practice.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code Explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including agreements · The tenements relevant to this announcement are 24 claims located in
or material issues with third parties such as joint ventures, partnerships, Québec, Canada.
overriding royalties, native title interests, historical sites, wilderness or
national park and environmental settings. · The claims are held 100% by Geomega Resources Inc.
· The security of the tenure held at the time of reporting along with any · A net smelter royalty of no more than 3% is payable to Geomega and Osisko
known impediments to obtaining a licence to operate in the area. Gold Royalties.
· MTM Critical Metals Ltd has executed an option agreement to acquire a
100% interest in the claims subject to cash and share based payments and
exploration expenditure requirements.
· The tenements are located on Category II Lands of the Cree First Nation
of Waswanipi. Mining, exploration and geoscientific works must be carried out
in such a manner as to avoid unreasonable conflict with the rights of the
First Nation people.
· 16 claims are located wholly or in part within restricted areas
associated with government hydro-electric schemes, but this is not considered
to be an impediment to exploration or future development.
· The tenements are secure and there are no known impediments to obtaining
a licence to operate in the area.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Previous exploration of the project area is limited.
· In the early 1990's airborne magnetic surveys identified a circular
magnetic anomaly that was considered as a potential kimberlite-hosted diamond
target. No drilling was completed.
· Detailed geological mapping of the area was undertaken in 2005 but
carbonatite was not identified, probably due to limited bedrock exposures.
· Geomega Resources Inc. completed a reconnaissance exploration program for
REE mineralisation comprising surface geochemical sampling (MMI) and airborne
geophysics (magnetics-radiometrics) in 2011. The program culminated in the
drilling of 2 diamond drill holes in 2012 to test geochemical and geophysical
anomalies. Drilling confirmed the presence of a REE-Nb mineralised
carbonatite.
Geology · Deposit type, geological setting and style of mineralisation. · The Pomme project is centred on a carbonatite intrusive complex
containing REE-Nb mineralisation. The carbonatite is interpreted to be
Paleoproterozoic in age and has intruded a metamorphosed sequence of basalts
within the Abitibi Province of the Canadian Shield.
Criteria JORC Code Explanation Commentary
· The carbonatite is characterised by a prominent, ellipsoidal, km-scale
magnetic anomaly that is similar in character and magnitude to the nearby
Montviel carbonatite intrusive located 7km to the south.
· The carbonatite complex is composed of four main intrusive carbonatitic
rock types: silicocarbonatite, calciocarbonatite, ferrocarbonatite and
ultramafic silicocarbonatite.
· The carbonatite complex is undeformed, but magmatic and/or hydrothermal
breccia intervals are frequently observed in every carbonatite unit with
different levels of intensity.
· Two general types of REE mineralisation are recognised in the current
drill holes. The first is present as interstitial, relatively coarse
fluoro-carbonate mineralisation. The second type of mineralisation occurs as
pervasive phosphate mineralisation (alteration-replacement).
· The host rock units intersected on the margins of the carbonatite complex
are altered wacke and/or mudstone (metasediments) part of a
volcano-sedimentary sequence. Metasediments intervals are frequently defined
by a foliation/ lamination, and locally disturbed bedding. Contact zones seems
to be very gradual in character, with carbonatite intrusions decreasing in
abundance over several hundred of metres.
Drill hole Information · A summary of all information material to the understanding of the · All material information is summarised in Appendix A and in the Tables
exploration results including a tabulation of the following information for and Figures included in the body of the announcement.
all Material drill holes, including Easting and northing of the drill hole
collar, Elevation or RL (Reduced Level - elevation above sea level in metres)
of the drill hole collar, dip and azimuth of the hole, down hole length and
interception depth plus hole length.
· If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, maximum · Length-weighted average grades are reported.
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off
grades are usually Material and should be stated. · No maximum grade truncations have been applied.
· Where aggregate intercepts incorporate short lengths of high-grade · Significant intersections are reported based on a 1,000ppm or 2,000ppm
results and longer lengths of low-grade results, the procedure used for such total rare earth oxide (TREO) cut-off grade with a maximum of 2 consecutive
aggregation should be stated and some typical examples of such aggregations samples of internal dilution.
should be shown in detail.
· Where appropriate higher-grade intersections are reported based on a
5,000ppm or 10,000ppm TREO cut-off with a maximum of 2 consecutive samples of
internal dilution.
Criteria JORC Code Explanation Commentary
· The assumptions used for any reporting of metal equivalent values should · No metal equivalent values have been reported.
be clearly stated.
· Multi-element results are converted to stoichiometric oxide values using
element-to-stoichiometric oxide conversion factors.
· These stoichiometric conversion factors are stated in the table below and
can be referenced in appropriate publicly available technical data.
· Rare earth oxide (REO) is the industry accepted form for reporting rare
earths.
· Total rare earth oxide (TREO) values were derived by the simple addition
of grades for lanthanum (La2O3), cerium (CeO2), praseodymium (Pr6O11),
neodymium (Nd2O3), samarium (Sm2O3), europium (Eu2O3), gadolinium (Gd2O3),
terbium (Tb4O7), dysprosium (Dy2O3), holmium (Ho2O3), erbium (Er2O3), thulium
(Tm2O3), ytterbium (Yb2O3), lutetium (Lu2O3) and yttrium (Y2O3).
· Nd+Pr REO (NdPr) grade includes Nd2O3 and Pr6O11. Reported as percentage
of TREO.
Element Conversion Factor Oxide Form
Ce 1.2284 CeO(2)
Dy 1.1477 Dy(2)O(3)
Er 1.1435 Er(2)O(3)
Eu 1.1579 Eu(2)O(3)
Gd 1.1526 Gd(2)O(3)
Ho 1.1455 Ho(2)O(3)
La 1.1728 La(2)O(3)
Lu 1.1372 Lu(2)O(3)
Nb 1.4305 Nb(2)O(5)
Nd 1.664 Nd(2)O(3)
Pr 1.2082 Pr(6)O(11)
Sc 1.5338 Sc(2)O(3)
Sm 1.1596 Sm(2)O(3)
Tb 1.1762 Tb(4)O(7)
Tm 1.1421 Tm(2)O(3)
Y 1.2699 Y(2)O(3)
Yb 1.1387 Yb(2)O(3)
Criteria JORC Code Explanation Commentary
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · Intervals are shown as downhole lengths only, the true width is not yet
Exploration Results. known.
· If the geometry of the mineralisation with respect to the drill hole · The geometry and orientation of the REE mineralised structures has not
angle is known, its nature should be reported. been determined and its relationship to the angle of the drill hole is
unknown.
· If it is not known and only the down hole lengths are reported, there
· Further drilling is required to determine the geometry of the
should be a clear statement to this effect (eg 'down hole length, true width mineralisation with respect to the drill hole angle.
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of intercepts · Refer to Figures included in the body of the announcement.
should be included for any significant discovery being reported. These should
include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · Comprehensive reporting of assay results is not practicable due to the
practicable, representative reporting of both low and high grades and/or number of elements assayed and length of the drill hole intervals.
widths should be practiced to avoid misleading reporting of Exploration
Results. · Reporting of significant TREO intersections at cut-off grades of
1,000ppm, 2,000ppm, 5,000ppm and 10,000ppm and other related elements is
provided in Appendix II.
Other substantive exploration data · Other exploration data, if meaningful and material, should be reported · None.
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or
contaminating substances.
Further work · The nature and scale of planned further work (e.g. tests for lateral · Preliminary metallurgical test work is planned along with modeling of
extensions or depth extensions or large-scale step-out drilling). existing drilling and geological interpretation to identify extensions of the
known carbonatite REE mineralisation.
· Diagrams clearly highlighting the areas of possible extensions, including
the main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
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