Montero Mining and Exploration (CVE:MON) said Tuesday surface mapping and sampling has outlined a much larger mineralized zone at the lower Nyati target area at its flagship Wigu Hill rare earth project in Tanzania.
Montero said the area has
been divided into the lower Nyati and upper Nyati targets and is located
at an elevation of 400 metres above the base of its property at Wigu
Amongst the highlights, Montero said that assays returned
from 104 panel samples yielded results ranging from 0.21% to 19.41%
total rare earth oxides (TREO) with an average 7.08% TREO.
WTRT002 averaged 3.87% TREO over 47 metres. This also includes 5.25%
TREO over 12 metres and 6.95% TREO over eight metres.
results from 100 grab samples from the North East section range between
2.51% and 18.21% TREO with the average value from 55 samples returning
10.43 percent TREO.
Sampling from the South West section ranged 1.95% to 13.03% TREO, with an average value from 45 samples returning 5.85% TREO.
exploration work at the Nyati target returned consistent high-grade
TREO values from carbonatite grab samples, the company said.
exploration programs have been focused on identifying drill targets and
outlining the extent of the rare earth mineralization at Nyati.
lower and upper Nyati target areas have become an exciting exploration
focus where mineralization," Montero's chief executive Tony Harwood
"Results to date show consistent elevated rare earth values
from surface outcrops and over extensive widths as seen in surface
trenching. Both zones exhibit good coarse mineralization at surface that
we hope will be confirmed with diamond drill results."
earth elements consists of a group of 17 metals that are critical in the
development of emerging green technologies and high-tech applications
from electric vehicles to wind and hydro power turbines, LCD screens,
X-ray machines, mobile devices and other computing equipment.
Mining is a mineral exploration and development company focused on rare
earth elements, phosphates and uranium in Tanzania, South Africa and
The company’s share price moved up 1.5 cents, or 9.38 percent, to 17.5 cents on Toronto’s junior venture exchange on Tuesday.