Monumental Minerals Provides Final Results of Maiden Drilling Program at the Jemi Heavy Rare Earth Element Project, Mexico
MONUMENTAL MINERALS PROVIDES FINAL RESULTS OF MAIDEN DRILLING
PROGRAM AT THE JEMI HEAVY RARE EARTH ELEMENT PROJECT, MEXICO
News Release - Vancouver, British Columbia – October 4, 2023: Monumental Minerals Corp.
(“Monumental” or the “Company”) (TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF) announces results
from the maiden drilling program at the Jemi rare earth element (REE) project (the “Project”) in Coahuila,
Mexico, about 40 km south of the Texas, USA border.
One diamond drill rig commenced drilling on the Veladora North and South prospect areas in early July to
test areas with a high frequency of REE -mineralized dykes and sills at the surface . In addition, 3D
aeromagnetic highs at less than 300 m depth were targeted, interpreted to be the magmatic bodies that fed
veins, dykes and sills observed at surface (see Company’s news release dated July 12, 2023). The program
concluded on August 18, 2023 with a total of 2000 metres (m) drilled in 14 holes which ranged from 50 to
321 m in length.
Of the 2000 m drilled, 186 m of core (124 samples) returned anomalous REE concentrations. These samples
contained total rare earth oxides (TREO1) results greater than 500 parts per million (ppm), with a maximum
of 2018 ppm, and a mean and standard deviation of 717 and 282 ppm (respectively). Heavy rare earth
oxides (HREO2) are also highest in these samples with a maximum of 517 ppm, and a mean and standard
deviation of 164 ppm and 98 ppm (respectively). Anomalous TREO1 and HREO2 values were observed in
every drill hole except JV-23-08 and JV-23-10 (Figure 1, and Table 1).
Figure 1. La Veladorra area diamond drill hole locations (oblique view looking North).
1 Total Rare Earth Oxides (TREO) includes: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3,
Tm2O3, Yb2O3, Lu2O3, Y2O3.
2 Heavy Rare Earth Oxides (HREO) includes: Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3,
3 Light Rare Earth Oxides (LREO) includes La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3.
Table 1. Jemi REE Project – La Veladora significant assay results.
Drill Hole ID
(dip/azimuth)
From
(m)
To
(m)
Interval*
(m)
TREO1
(%)
HREO2
(%)
LREO3
(%)
Nd2O3
(ppm)
Pr2O3
(ppm)
Dy2O3
(ppm)
Tb2O3
(ppm)
JV-23-01
(-45/114) 81 81.45 0.45 0.12 152 1092 150 50 14 2
and 123.72 125.17 1.45 0.12 263 888 175 48 27 4
and 216.68 217.52 0.84 0.10 198 809 128 40 18 3
JV-23-02
(-50/116) 9.3 9.59 0.29 0.20 495 1523 251 75 48 8
and 16.2 16.4 0.20 0.18 822 935 220 53 83 12
JV-23-03
(-44/117) 69.52 69.74 0.22 0.12 269 966 216 58 25 4
and 72.92 73.16 0.24 0.10 209 793 163 45 19 3
JV-23-07
(-45/114) 27.17 27.37 0.20 0.13 518 728 162 41 49 7
JV-23-09 31.6 32.48 0.88 0.17 489 1231 250 65 48 7
and 41.22 41.84 0.62 0.11 235 888 166 46 25 4
JV-23-11
(-45/130) 73.5 74 0.50 0.10 251 793 144 41 25 4
and 73.5 74 0.50 0.10 251 793 144 41 25 4
JV-23-13
(-50/120) 30.2 33.5 3.30 0.10 220 776 141 42 21 3
JV-23-14
(-50/120 10.5 12 1.50 0.11 312 780 151 42 30 5
* True widths of the mineralized intervals are interpreted to be between 80-100% of the reported lengths.
Core logging confirmed anomalous REE assay values relate to the presence of the mineral eudialyte,
consistent with surface mapping at the Jemi project (see Company’s news release dated April 4, 2023). At
Veladora North eudialyte was almost always found within discreet veins, dykes and sills, emplaced into
host sedimentary rock sequences (Figure 2).
At Veladora South, elevated REE values are regularly associated with massive pegmatitic syentite
intrusions, especially within holes JV-23-11, JV-23-13, and JV-23-14. Eudialyte was commonly observed
as intergrowth mineralization within these intrusions (Figure 3). Drill hole intersections with anomalous
REEs were generally continuous and associated with aegirine as banded lithologies. The geochemistry at
Veladora South indicates that the peralkaline rocks are highly fractionated, a characteristic shared with
major REE deposits. Veladora South is also associated with intense pervasive fentinization (metasomatic
alteration by nepheline syenite intrusive rocks ) of host sedimentary rocks resulting in skarn minerals
throughout boreholes, supporting the existence a buried nepheline syenite intrusion.
Dr. Jamil Sader, CEO and Director comments:
“The Monumental Minerals drilling program at Jemi was the first in the area, with all drill holes targeting
prospective areas based on surface geochemistry and 3D aeromagnetic geophysics. Interpretation of
drilling results including assays and core logging show that Jemi continues to be a highly prospective target
for rare earth elements. Our initial drilling campaign has proven very valuable in vectoring toward
potential buried mineralization at Jemi.”
The company used artificial intelligence (AI) to interpret the geochemistry of drill core and determined that
the Veladora South area is more prospective. These data, plus core mineralogy, fentinization alteration in
conjunction with 3D aeromagnetic geophysical data (see Company’s news release dated April 4, 2023) will
be used to target other potential high -grade mineralization at Veladora South, and adjacent areas to the
south of the current drill program within the untested Jemi Dykes area.
Figure 2. Eudialyte in a vein between 78.46 and 78.78 m below ground surface in drill hole JV-23-01 (interval
denoted in red boxes).
Figure 3. Eudialyte intergrowths within pegmatite between 32.35 and 33.29 m below ground surface in drill hole
JV-23-13 (interval denoted in red boxes).
The Jemi project is characterized by broad areas of peralkaline intrusion -related REE mineralized dykes
and sills at the margins of the La Vasca igneous complex observed at that surface (see Company’s news
release dated April 4, 2023). These intrusive bodies contain high grades of heavy rare earth oxides (HREO)
dysprosium (Dy) and terbium (Tb), light rare earth elements (LREE) neodymium (Nd) and praseodymium
(Pr), all critical to permanent magnets for EVs. Additionally, surface samples contain high concentrations
of niobium (Nb) and tantalum (Ta).
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at Zacatecas, Mexico
(sample preparation) and Vancouver, B.C. (ICP -MS fusion). ALS is an ISO -IEC 17025:2017 a nd ISO
9001:2015 accredited geoanalytical laboratory and is independent of Monumental Minerals and the QP.
Rock samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a
250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-
MS analysis via lithium -borate fusion to determine individual REE content (ME -MS81). Monumental
Minerals quality assurance/quality control (QA/QC) program for field rock samples includes the insertion
of certified reference standards into the sample sequence to confirm the accuracy of the reported results.
Monumental Minerals detected no significant QA/QC issues during review of the data, and is not aware of
any drilling, sampling, or other factors that could materially affect the accuracy or reliability of the data
referred to herein.
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. Mr. Raffle verified the data disclosed which incl udes a review of the
sampling, analytical and test data underlying the information and opinions contained therein.
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 and a 50.01% interest
in the Salar De Turi lithium project in Chile.
On behalf of the Board of Directors,
/s/ “Jamil Sader”
Jamil Sader, Chief Executive Officer and Director
Contact Information:
Email: [email protected]
Or
Max Sali, VP Corporate Development and Director
Email: [email protected]
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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, 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 assum ptions, 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 t he 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
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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, failure to obtain surface access agreements or
understandings from local communities, land owners or Indigenous groups, 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 (including from the Indigenous communities), 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.