Monte Muambe: Strong Initial Assay Results
Altona Rare Earths PLC has announced strong initial assay results from its 2025 drilling campaign at Monte Muambe, with individual grades reaching up to 82.76% CaF2 and 409 g/t Ga2O3, and a weighted average grade of significant intercepts at 31% CaF2, consistent with industry expectations. These results, representing approximately 10% of the samples, indicate suitability for open-pit mining and are expected to contribute to the project's fluorspar and gallium Mineral Resource Estimate. The company also noted significant strategic and financial interest in its projects at a recent mining conference.
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Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to announce that it has started to receive assay results from its 2025 drilling campaign at Monte Muambe.
Highlights
- Approximately 10% of assay results from 2025 drilling campaign received, remaining results expected over coming weeks.
- Individual grades up to 82.76% CaF2 and up to 409 g/t Ga2O3
- Weighted average grade of significant intercepts 31% CaF2, consistent with the Company's expectations and with typical fluorspar mining industry CaF2 grades.
Excellent initial fluorspar and gallium assay results received
Received results correspond to samples from diamond drilling holes at both the Fluorite Zone and the Python Zone, with individual grades reaching up to 82.76% CaF2 and up to 409 g/t Ga2O3.
Significant intercepts include:
| Hole Number | From (m) | Length (m) | CaF 2 % | Ga 2 O 3 g/t |
|---|---|---|---|---|
| MM111 | Surface | 6.8 | 38.61 | |
| MM112 | Surface | 18.3 | 43.89 | |
| MM114 | Surface | 22.5 | 25.11 | 129 |
| MM115 | Surface | 66.4 | 62 | |
| Including | Surface | 7.5 | 20.52 | 134 |
| Including | 48.4 | 13.5 | 25.96 | 78 |
| MM116 | Surface | 52 | ||
| MM117 | 6.4 | 12.2 | 84 | |
| MM118 | 5.6 | 10.5 | 31.89 | |
| MM119 | Surface | 19.3 | 31.71 | 36 |
| MM120 | 32.1 | 32.9 | 52 | |
| MM121 | 31.5 | 5.3 | 29.82 | |
| MM122 | Surface | 9.4 | 28.54 | |
| MM122 | 33.6 | 15.1 | 31.39 | |
| Including | 33.6 | 5.8 | 69.04 | |
| MM122 | 39.4 | 18.9 | 35 |
The weighted average of the fluorspar intercepts is 31% CaF2, with numerous near-surface intercepts, confirming the suitability for open-pit mining. This is consistent with the Company's pre-drill expectations for this project as well as grades at which fluorspar is commercially mined, typically ranging from 20% to 40% CaF2.
These results represent approximately 10% of the samples submitted. The remaining assay results are expected over the coming weeks and, once received, will be used immediately to prepare the project's fluorspar and gallium Mineral Resource Estimate ("MRE").
Cedric Simonet, CEO, commented: "I am delighted with the assay results received so far, which show wide intercepts of high grade fluorspar ore and gallium mineralisation, often from surface level. I look forward to receiving the remaining assays and completing and publishing the MRE in due course.
"I am also pleased to report that the Company's projects generated exceptional momentum and interest at this year's Mining Indaba which was attended by Altona board members. The level of strategic and financial interest in both the rare earth and the fluorspar projects have exceeded our expectations."
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Altona Rare Earths Plc
Cédric Simonet, CEO +44 (0) 7778 866 108 (cs@altonare.com)
Louise Adrian, CFO +44 (0) 7721 492 922 (la@altonare.com)
Strand Hanson (Financial Adviser) +44 (0) 20 7409 3494
Christopher Raggett
Imogen Ellis
Zeus Capital (Corporate Broker) +44 (0) 20 3829 5000
Simon Johnson
James Hornigold
About Altona Rare Earths Plc
The multi-commodity Monte Muambe Project in northwest Mozambique is a highly prospective tenement hosting rare earths, fluorspar, and gallium mineralisation. Since acquiring the project in June 2021, Altona has drilled over 7,800 metres, delivering a maiden JORC Mineral Resource Estimate of 13.6Mt at 2.42% TREO, secured a 25-year mining licence (granted December 2024), and published a Competent Person Report and scoping study for the rare earths component of the project (October 2023). The project has recently received an expression of support from the US Government, through USTDA, to fund the advancement of the rare earths project through the prefeasibility stage.
In parallel, Altona is progressing plans to fast-track the development of high-grade fluorspar veins identified along the western and southern margins of Monte Muambe, with a targeted production of 50,000 tonnes per annum of acid-grade fluorspar over a minimum 12-year mine life. Acid-grade fluorspar is a key input in a wide range of applications, including hydrofluoric acid, lithium battery electrolyte production, and nuclear fuel refining, placing Altona in a strong position to supply this critical material.
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