30 November
2021
ALTONA RARE EARTHS PLC
(“Altona” or “the Company”)
COMPLETION OF 2021
DRILLING PROGRAMME
AT MONTE MUAMBE
PROJECT
Altona (AQSE: ANR), a Rare Earths mining company focused on the
discovery and development of rare earth mine projects in
Africa, is pleased to announce it
has successfully completed its 2021 Drilling Programme at its
Mozambique Monte Muambe Project, on time and within budget.
The objective of this first phase drilling programme is to
provide an initial guide as to the extent of Rare Earth Elements
(“REE”) deposits across the site. The programme included testing
the lateral extension of known REE mineralisation in the crater as
well as exploring four new targets where the Company’s geologist
team identified possible deep carbonatite weathering, ideal for
hosting REE deposits.
The programme consisted of the following:
Type of Hole |
Number of Holes
Drilled |
Number of Holes
Planned |
Total Depth
Drilled |
Total Depth
Planned |
Diamond Drilling |
5 |
4 |
590m |
550m |
Reverse
Circulation |
38 |
35 |
2,441m |
2,450m |
TOTALS |
43 |
39 |
3,131m |
3,000m |
Monte Muambe is an ancient sub-volcanic carbonatite intrusion
with a 4km diameter, held under Prospecting Licence 7573L by Monte
Muambe Mining Lda. The project has been previously explored between
2010 and 2012, where significant Rare Earth Element intercepts have
shown grades up to 4.1% Total Rare Earths Oxide (“TREO”) quite
close to the surface.
Altona’s geologist team in Mozambique is presently preparing the samples
for shipment to an internationally certified test lab for detailed
analysis (assay) in early December. The full results are expected
in March 2022 and will enable the
Company to make informed decisions on how to further develop the
project.
Christian Taylor-Wilkinson,
Chief Executive of Altona, commented, “Africa is a challenging
operational environment. We have assembled a highly experience
team, which is now starting to deliver as evidenced by the
completed acquisition of the Monte Muambe REE project in June this
year and already completing Phase 1 drilling. Whilst we wait for
the results, our team will focus on our new Chambe REE prospect in
Southern Malawi, where we are
currently undertaking initial sampling and analysis, prior to the
start of the rainy season, to enable us to commission a Competent
Persons Report, which will assist the target identification for
Phase 1 drilling in Q1 2022.”
-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.
Having ownership of both carbonatite and ionic clay deposits
allows Altona possible access to both Heavy and Light Rare Earths,
one of the few companies in the position to potentially supply all
17 REEs in economic quantities.
It acquired its first rare earths mining asset, the
“carbonatite” Monte Muambe Project in Northwest Mozambique, in June 2021 and completed Phase 1 drilling on
26 November 2021.
The Company completed its second acquisition in October 2021 – the “ionic clay” Chambe Rare
Earths Project in Southern Malawi,
where it will commence Phase 1 exploration drilling by the end of
Q1 2022.
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.altonaRE.com.
This website is where items can be inspected under Rule 75 of the
Aquis Rules for Issuers.