13 October
2021
ALTONA RARE EARTHS
PLC
(“Altona” or “the Company”)
COMMENCEMENT OF
DRILLING PROGRAMME
AT MONTE MUAMBE
PROJECT
Altona (AQSE: ANR), a Rare Earths mining company focused on the
evaluation and development of projects in Africa, is pleased to announce that
exploration drilling has commenced at its Monte Muambe Project in
Northwest Mozambique, in the Tete
Province, to evaluate the asset’s value and potential.
Phase 1 drilling will entail 39 holes drilled for a total
meterage of 3,000m, across six
carefully selected Rare Earths targets. The programme is being
divided as follows:
-
Diamond Drilling - 4 holes (one
inclined and three vertical) for a total meterage of 550m, producing solid cores at 1m intervals
-
Reverse Circulation (“RC”) drilling - 35 holes (six vertical and
29 inclined) for a total meterage of 2,450m.
The objectives of the drilling programme are:
-
To improve the understanding of the geological model through
repeating selected historic RC holes in Diamond Drilling.
-
To check the lateral extension of REE mineralisation encountered
in historic RC holes.
-
To test four new targets selected by our geologist team based on
available data and with a focus on areas with potential for deep
weathering of carbonatites, which is known as an enrichment factor
in carbonatite-hosted REE deposits.
Christian Taylor-Wilkinson,
Chief Executive of Altona, commented, “Within three months of
acquiring Monte Muambe, we have obtained all the necessary permits,
assembled a world class team and now commenced a drilling programme
at our first rare earths mining project. The first cores from the
diamond drilling have been recovered and we will be posting updates
on the Altona website over the coming weeks.”
-ends-
For further information, please visit www.altonaRE.com or
contact:
Altona Rare Earths Plc
Christian Taylor-Wilkinson, Chief
Executive
+44 (0) 7795 168 157
Martin Wood, Non-Executive
Chairman
+44 (0) 7880 787 080
Alfred Henry Corporate Finance Ltd (AQSE Corporate
Adviser )
Jon Isaacs / Nick
Michaels
+44 (0) 20 3772 0021
Optiva Securities (Broker)
Hal
Norwood
+44 (0) 20 3411 1882
Company Information
Altona Rare Earths Plc is a mining exploration company focused
on the evaluation, development and extraction of Rare Earth Element
(REE) metals in Africa. It acquired its first rare earths
mining asset, the Monte Muambe Project in Northwest Mozambique, in June 2021 and commenced its exploration drilling
programme on 2 October 2021.
The Company was admitted to trading on AIM on 10 March 2005 and was subsequently admitted to
Aquis Stock Exchange on 1 February 2019. A copy of its
Admission documents dated 4 March
2005 can be accessed on its website,
www.altonaenergy.com. This website is where items can be
inspected under Rule 75 of the Aquis Rules for Issuers.