Business
Mineral Resource Estimate
Mineral Resource Estimate.
About this update from Altona Rare Earths Plc
[{"type":"text","content":"\n\n25 September 2023\n \nALTONA RARE EARTHS PLC\n(\"Altona\" or \"the Company\")\n \n \nMaiden Mineral Resource Estimate\n13.6 million tons at 2.42% TREO\n \nAltona (LSE: REE), a resource exploration and development company focused on Rare Earths in Africa, is pleased to announce its maiden JORC compliant Mineral Resource Estimate (\"MRE\") for its Monte Muambe rare earths project in Mozambique.\n \nKey highlights: \n \n· 13.6 million tons at 2.42% TREO(1) using a cut-off grade of 1.5% TREO;\n \n· Including 0.31% NdPrO(2) representing 42,500 contained tons NdPrO;\n \n· 58% of the reported tonnage in the Indicated category;\n \n· Mineralisation open at depth at both Target 1 and Target 4; and\n \n· The Scoping Study is expected to be finalised for publication no later than the third week of October.\n \n(1) TREO (Total Rare Earth Oxide) is the sum of all Rare Earth Elements and Yttrium, expressed in percentage.\n(2) NdPrO is the sum of Nd2O3 and Pr6O11, expressed in percentage, and is included in TREO%.\n \nThe estimate, which is focused on the high-grade zones of the deposit, is in line with Altona's expectations and it follows the Company's strategy of focusing its endeavours on the part of the deposit that is most likely to be exploitable, as opposed to \"drilling for numbers\", in order to fast-track the project towards production.\n \nThe complete Competent Person Statement is available on the Company's website investor section: https://www.altonare.com/investors/reports/\n \nThe MRE represents an increase of tonnage compared to the high-grade part (2% TREO cut-off) of the Exploration Target estimate published on 8 August 2022.\n \nFuture resource increases will be achieved by drilling below the level of pit shells at Target 1 and 4, resource drilling at Target 3 and Target 9, as well as on-going exploration work.\n \n\n \n \...