VANCOUVER, BC, May 31, 2022
/CNW/ - Monumental Minerals Corp. ("Monumental" or the
"Company") (TSX-V: MNRL) (FSE: BE5) (OTCQB: MNMRF)
is pleased to announce plans for follow-up exploration work at the
Jemi Heavy Rare Earth (HREE) Project ("Jemi"), located in
Coahuila, Mexico, about 40 km
south of the Texas, USA
border.
The Jemi Project hosts numerous REE occurrences containing
potentially economic concentrations of the high value magnetic REEs
including the HREEs dysprosium (Dy) and terbium (Tb), and the light
rare earth elements (LREEs) neodymium (Nd), praseodymium (Pr). The
Project also contains associated tantalum (Ta), niobium (Nb), and
zirconium (Zr). Jemi sits within the North American Alkaline
Igneous Belt, an under explored north-south trend over 3000 km long
of alkaline igneous rocks and carbonatites that are host to
numerous REE, gold and other critical element deposits.
A Jemi site visit conducted April 27-30,
2022 (see the Company's news release dated May 3, 2022), confirmed that airborne radiometric
anomalies are spatially associated with known HREE mineral
occurrences, and identified an area of approximately 8 square
kilometres ("km2") with high priority for follow-up.
This area hosts eudialyte-bearing alkaline dykes, veins, and
disseminations (mineralized rocks). Based on field assessments, a
plan for further fieldwork was developed. The work will be
conducted by ProDeMin, a consulting company specializing in
exploration, discovery, and development in Mexico with extensive experience in the Sierra
Madre Oriental mountains, where Jemi is located.
Jamil Sader, Monumental's CEO and
Director comments:
"Monumental Minerals is excited to
progress the Jemi project to the next stage of exploration. Our
site visit in April and airborne geophysical interpretations were
key in focusing our search space from the entire claims area to an
area of approximately 8 km2. This planned exploration
program includes well established methods for peralkaline REE
mineralization styles and will further reduce our search space to
define optimal drill target locations."
The field program will be divided into two phases. The objective
of the first phase is to identify drill targets within the 8
km2 high-priority area determined from site visit
observations and airborne radiometrics (Fig. 1). Eudialyte-bearing
peralikaline dykes and sills have a strong radiometric response in
contrast to the host rock (limestone). Thus, a ground radiometric
survey is planned to map out these ore-bearing features and their
orientation. Detailed geological mapping of rock types and the
collection of structural orientation measurements will also be
conducted during the radiometric survey. Dyke and sill density,
plus orientation will assist in the identification of the source of
the mineralized dykes and sills. Selective talus geochemical
sampling along hill slopes will be undertaken to assess differences
in REE concentrations and vector to the highest grade
mineralization along strike.
The second phase will be regional in extent and will take the
form of a stream sediment geochemical survey of local drainages at
the margins of the Sierra La Vasca igneous complex. This program
will assess areas within and beyond the 8 km2 area of
highest priority. Stream sediment sampling represents an efficient
and effective strategy to test large areas quickly for exploration
prospectivity. The samples will be analyzed for geochemistry and
indicator minerals – specifically the mineral eudialyte.
Rare earth element mineralization discovered to date at Jemi
exhibits characteristics and mineralogy consistent with peralkaline
intrusion-related deposits, which represent an important,
potentially economic style of HREE mineralization. Deposits of this
type are being explored and prepared for development in
Australia, Europe, and North
America.
Qualified Person
The scientific and technical
information contained in this news release has been reviewed and
approved by Kristopher J. Raffle, P.Geo. (BC)
Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, AB, a Director of the
Company and a "Qualified Person" as defined in National Instrument
43-101 – Standards of Disclosure for Mineral
Projects.
The 1,122 line-km Jemi HREE Project heli-borne geophysical
survey was flown at 100 metres east-west oriented flightlines, and
1 kilometre spaced north-south oriented tie lines at ±15 metre
flight control flying at a nominal 40 metre terrain clearance. The
completed survey by Markham,
Ontario based Terraquest Ltd. utilized high resolution
magnetics (Scintrex Ltd. cesium vapour) at 2
m (20 Hz sampling), gamma ray spectrometer (Radiation
Solutions: RS-500 Advanced Digital Spectrometer), digital matrix
VLF-EM sensors (proprietary Terraquest Ltd.).
About Monumental Minerals Corp.
Monumental Minerals
Corp. is a mineral exploration company focused on the acquisition,
exploration, and development of mineral resource properties in the
critical and electric metals sector. The Company's flagship asset
is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an
option to acquire 100% of the 3,650-hectare project. The
Company has an option to acquire a 75% interest and title to the
Laguna cesium-lithium brine project located in Chile. The Company has an option to acquire a
100% interest and title to the Weyman property located in the
Kamloops and Nicola Mining
Divisions and in the Thompson Nicola Regional District, British
Columbia.
On behalf of the Board of Directors,
/s/ "Jamil Sader"
Jamil
Sader, Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward Looking
Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, the potential plans for the
Company's projects, the completion of the follow-up work program on
the Jemi project and the expected outcomes, other statements
relating to the technical, financial and business prospects of the
Company, its projects and other matters. All statements in this
news release, other than statements of historical facts, that
address events or developments that the Company expects to occur,
are forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Such statements are based
on numerous assumptions regarding present and future business
strategies and the environment in which the Company will operate in
the future, including the price of metals, the ability to achieve
its goals, that general business and economic conditions will not
change in a material adverse manner and that financing will be
available if and when needed and on reasonable terms. Such
forward-looking information reflects the Company's views with
respect to future events and is subject to risks, uncertainties and
assumptions, including the risks and uncertainties relating to the
interpretation of exploration results, risks related to the
inherent uncertainty of exploration and cost estimates and the
potential for unexpected costs and expenses and those other risks
filed under the Company's profile on SEDAR at www.sedar.com. While
such estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and
financing and general economic, market or business conditions,
failure to secure personnel and equipment for work programs,
adverse weather and climate conditions, risks relating to
unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters), risks relating to inaccurate geological assumptions,
failure to maintain all necessary government permits, approvals and
authorizations, fluctuation in exchange rates, the impact of
Covid-19 or other viruses and diseases on the Company's ability to
operate, an inability to predict and counteract the effects of
COVID-19 on the business of the Company, including but not limited
to, the effects of COVID-19 on the price of commodities, capital
market conditions, restriction on labour and international travel
and supply chains, decrease in the price of rare earth elements,
lithium, cesium and other metals, loss of key employees,
consultants, or directors, failure to maintain community
acceptance, increase in costs, litigation, and failure of
counterparties to perform their contractual obligations. The
Company does not undertake to update forward–looking statements or
forward–looking information, except as required by law.
SOURCE Monumental Gold Corp
