Mt Monger Resources (ASX:MTM) secures key building in Ravensthorpe – The Market Herald

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  • Mt Monger Resources (MTM) secures key land area on its Ravensthorpe project in Western Australia
  • The company has requested a building located in the center of the Young River prospect, which covers several known mineralized zones.
  • The area contains ultramafic rocks, which have been interpreted to be a continuation of the Johnston Lake greenstone belt
  • It contains two high priority nickel sulphide zones, with prospective soil for lithium, graphite and rare earth elements (REE)
  • Shares are trading down 6.82% at 20.5 cents apiece just before the market close

Mt Monger Resources (MTM) has secured a key area of ​​land on its Ravensthorpe project in Western Australia.

The company has applied for a concession located in the center of the Young River prospect, which covers several known mineralized zones.

The area contains ultramafic rocks, which have been interpreted to be a continuation of the Johnston Lake greenstone belt.

It contains two high-priority nickel sulphide zones, with promising soil for lithium, graphite and rare earth elements (REE). However, this type of mineralization has not been tested in previous explorations.

“We have recognized that the entire area is promising for lithium-bearing pegmatites and rare earth element deposits hosted in ionic clay and we now have an excellent opportunity to undertake in-depth exploration of these deposits,” he said. said general manager Lachlan Reynolds.

“We are now busy compiling the exploration information available for the new exploration license application and surrounding properties and planning fieldwork to confirm and expand the historical results from the area.”

The shares were trading down 6.82% to 20.5 cents apiece just before the market close.

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