775: Cédric Simonet of Altona Rare Earths provides an update on phase 2 drilling results at Monte Muambe

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Cédric Simonet, COO of Altona Rare Earths #ANR provides an update on Preliminary Phase 2 Drilling Results at Monte Muambe, which is on track for production of maiden JORC Resource Statement by Q1 2023 and a Preliminary Economic Assessment by Q2 2023.
SUMMARY
* Phase 2 exploration programme is progressing within schedule and on track for production of maiden JORC Resource Statement by Q1 2023 and a Preliminary Economic Assessment ("PEA") by Q2 2023
* Monte Muambe has the potential to become one of the highest-grade Carbonatite REE projects in Africa
* Preliminary Phase 2 exploration results show continuing improvement, not only in terms of grades but also in terms of orebodies dimensions:
+ Extensive soil sampling covering the entire intrusion has led to the discovery of four new drilling targets for REE and Niobium (up to 1.75% TREO and up to 1.75% Nb2O5 in soil), currently being investigated through shallow RC drilling
+ Target 1 length was extended from 100m to 700m. Phase 2 RC drilling results show thick intercepts with Total Rare Earth Oxide ("TREO") grades up to 7.85%
+ Target 4 shows an orebody thickness of at least 170 m with grades up to 6.37% TREO

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