Monumental Minerals Corp. Finalizes Plans FOR Follow up Work at the Jemi Heavy Rare Earth Project, Mexico
MONUMENTAL MINERALS CORP. FINALIZES
PLANS FOR FOLLOW UP WORK AT THE JEMI
HEAVY RARE EARTH PROJECT, MEXICO
VANCOUVER, BC
,
May 31, 2022
/CNW/ - Monumental Minerals Corp. ("
Monumental
" or the
"
Company
") (TSX-V: MNRL) (FSE: BE5) (OTCQB: MNMRF) is pleased to announce plans for
follow-up exploration work at the Jemi Heavy Rare Earth (HREE) Project ("Jemi"), located in
Coahuila, Mexico
, about 40 km south of the
Texas, USA
border.
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 (LREEs) 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.
A Jemi site visit conducted
April 27-30, 2022
(see the Company's news release dated
May 3, 2022
),
confirmed that airborne radiometric anomalies are spatially associated with known HREE mineral
occurrences, and identified an area of approximately 8 square kilometres ("km
2
") with high priority
for follow-up. This area hosts eudialyte-bearing alkaline dykes, veins, and disseminations
(mineralized rocks). Based on field assessments, a plan for further fieldwork was developed. The
work will be conducted by ProDeMin, a consulting company specializing in exploration, discovery,
and development in
Mexico
with extensive experience in the Sierra Madre Oriental mountains, where
Jemi is located.
Jamil Sader
, Monumental's CEO and Director comments:
"Monumental Minerals is excited to progress the Jemi project to the next stage of
exploration. Our site visit in April and airborne geophysical interpretations were key in
focusing our search space from the entire claims area to an area of approximately 8 km
2
.
This planned exploration program includes well established methods for peralkaline REE
mineralization styles and will further reduce our search space to define optimal drill target
locations."
The field program will be divided into two phases. The objective of the first phase is to identify drill
targets within the 8 km
2
high-priority area determined from site visit observations and airborne
radiometrics (Fig. 1). Eudialyte-bearing peralikaline dykes and sills have a strong radiometric
response in contrast to the host rock (limestone). Thus, a ground radiometric survey is planned to
map out these ore-bearing features and their orientation. Detailed geological mapping of rock types
and the collection of structural orientation measurements will also be conducted during the
radiometric survey. Dyke and sill density, plus orientation will assist in the identification of the source
of the mineralized dykes and sills. Selective talus geochemical sampling along hill slopes will be
undertaken to assess differences in REE concentrations and vector to the highest grade
mineralization along strike.
The second phase will be regional in extent and will take the form of a stream sediment geochemical
survey of local drainages at the margins of the Sierra La Vasca igneous complex. This program will
assess areas within and beyond the 8 km
2
area of highest priority. Stream sediment sampling
represents an efficient and effective strategy to test large areas quickly for exploration prospectivity.
The samples will be analyzed for geochemistry and indicator minerals – specifically the mineral
eudialyte.
Figure 1. Jemi HREE Project airborne radiometric anomalies and locations of high priority exploration
targets (yellow dashed ovals) along a strike length of approximately 8 km. (CNW Group/Monumental
Gold Corp)
Rare earth element mineralization discovered to date at Jemi exhibits characteristics and mineralogy
consistent with peralkaline intrusion-related deposits, which represent an important, potentially
economic style of HREE mineralization. Deposits of this type are being explored and prepared for
development in
Australia
,
Europe
, and
North America
.
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.
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, the completion of the follow-up work program on the Jemi project and the
expected outcomes, 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 Gold Corp
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CO: Monumental Gold Corp
CNW 08:00e 31-MAY-22