VANCOUVER, BC, May 3, 2022
/CNW/ - Monumental Minerals Corp. ("Monumental" or the
"Company") (TSXV: MNRL) (FSE: BE5) (OTCQB: MNMRF) is
pleased to announce the results of its recently completed 1,122
line-kilometre heli-borne magnetic, radiometric, and very-low
frequency electro-magnetic (VLF-EM) geophysical survey completed at
the Jemi Heavy Rare Earth (HREE) Project, located in Coahuila, Mexico, about 40 km south of the
Texas, USA border. The Company is
also pleased to report on a site visit to the property, which was
conducted on April 27-29, 2022.
The Jemi HREE Project airborne survey results confirm that a
significantly larger area of the Jemi Project is prospective for
HREE mineralization than previously recognized, with a 10-fold
increase (from approximately 1 km to 10 km of prospective strike
length). Airborne radiometric results define two parallel 8 km
arcuate anomalies that occur along the south and west margin of the
Sierra La Vasca intrusion complex (Figure 1).
The site visit was attended by members of Monumental's
management and technical team including Dr. Jamil Sader, CEO and Director; Kristopher Raffle, P.Geo. QP and Director; and
Dan Harmening Technical Advisor; the Project vendors, and Sierra La
Vasca researchers from Coahuila Universidad Autonoma (Fig. 2). The
principal objective of the visit was to ground truth high priority
radiometric anomalies to determine the next steps toward rapid
evaluation and prioritization of targets for diamond drill
testing.
During the site visit, it was confirmed that the newly
discovered airborne radiometric anomalies are spatially associated
with known HREE mineral occurrences. These occurrences are
comprised of eudialyte bands within alkaline dykes, veins, and
disseminations in host carbonate rocks at both the Project's
Veladora North and JEMI Dyke areas (Fig. 3 a,b,c). Eudialyte is a
highly complex Na, Ca, Fe/Mn, Zr silicate mineral that can contain
up to 10% RE2O3 (enriched in HREEs), and 12%
ZrO2. Rare earth element bearing minerals (namely
eudialyte)–but also other minerals associated with REE
mineralization commonly contain trace Th and U in concentrations
greater than background. These rocks emit small amounts of gamma
rays and the variability between REE-bearing rocks and other rocks
not of interest can be detected with highly sensitive geophysical
equipment. Radiometric surveys have been used extensively and
successfully as a primary direct detection exploration tool for REE
deposits (e.g., McCafferty et al. 2014, Shives 2015).
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 (LREE) 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.
The REE mineralization discovered to date at Jemi exhibits
characteristics and mineralogy consistent with peralkaline
intrusion related deposits, which represent an important
potentially economic style for the highest value HREE.
Deposits of this type are being explored and prepared for
development in Australia,
Europe, and North America.
Jamil Sader, Monumental's CEO and
Director comments:
"Based on the geochemical characteristics of known
peralkaline intrusion-related HREE mineralization at Jemi,
Monumental was confident that airborne magnetic and
radiometric surveys would facilitate rapid target definition and
evaluation. The coincidence of mineralization and positive
radiometrics shown via ground-truthing during the site visit
further demonstrates the 10-fold increase in prospective HREE
strike length and validates the Company's cost-effective approach
to advancing the Jemi HREE Project."
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.
References
McCafferty, A.E., Stoeser, D.B. and Van
Gosen, B.S., 2014. Geophysical interpretation of U, Th, and
rare earth element mineralization of the Bokan Mountain peralkaline
granite complex, Prince of Wales Island, southeast
Alaska. Interpretation, 2(4),
pp.SJ47-SJ63.
Shives, R.B.K., 2015, November. Using gamma ray spectrometry to
find rare metals. In Symposium on Strategic and Critical
Materials Proceedings, British Columbia Geological Survey
Paper (Vol. 3, pp. 199-209).
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, 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 Minerals Corp.