Canada NewsWire
VANCOUVER, BC , March 21, 2022 /CNW/ - Monumental Minerals Corp. (" Monumental " or the " Company ") (TSXV: MNRL) (FSE: BE5) (OTCQB: MNMRF) is pleased to announce that the Company has will be conducting site visits at the Jemi heavy rare earth (HREE) Project and the Salar De Laguna Blanca Cesium-Lithium Brine Salar Project (the " Laguna Project ") during the month of April.
The site visit will field-check airborne radiometric and magnetic geophysical features that relate to peralkaline rocks and associated ore-grade concentrations of REEs in order to determine high-priority drilling targets. The company expects initial data for internal use from this recent survey to be received this week. Surface rock chip samples will be collected for geochemical and mineralogical testing. While on-site, the Company will also coordinate meetings with local communities and stakeholders as part of Monumental's on-going commitment to ESG.
The Jemi Project hosts numerous rare earth element (REE) occurrences containing potentially economic concentrations of the high value magnetic REEs including the heavy rare earths (HREEs) dysprosium (Dy) and terbium (Tb), and the light rare earth elements (LREE) 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.
The REE mineralization discovered to date at Jemi exhibits characteristics and mineralogy consistent with peralkaline intrusion related deposits, which represent an important potentially economic style for the highest value HREE. Deposits of this type are being explored and prepared for development in Australia , Europe and North America .
Jamil Sader , Monumental's CEO and Director comments:
" Our site visits in April at both Monumental's Jemi heavy rare earth project, and the Laguna Blanca cesium-lithium brine project will allow us to prepare well-planned exploration programs, including drilling, at both projects. We are excided to get boots-on-the-ground and to further demonstrate the value that both of these projects have in the critical metals space"
The Company has entered into an arm's length letter of intent ("LOI") with Lithium Chile Inc. (" Lithium Chile ") (TSX-V: LITH ) to acquire up to 75% of the 5200-hectare Salar De Laguna Blanca (see Monumental press release dated March 9, 2022 ), and a site visit will be undertaken as part of Monumental's due diligence process. The site visit will be attended by both Lithium Chile and the Company's technical teams to confirm access to site, and to collect representative surface brine and sediment samples for independent geochemical and mineralogical testing (where applicable). The mineralogy will help to establish the mineral phases in the sediments that are hosting both cesium and lithium. The team will also assess any further surface exploration work required, locations for drilling, and drilling contractors.
The Company plans to meet with Summit Nanotech in Antofagasta, Chile to discuss their direct lithium extraction (DLE) technology, including pilot plant, and full-scale modular units that could be deployed to site. Summit is developing 1000 m 3 /day modular units designed to double yield, reduce climate pollution, minimize the use of chemicals and freshwater, and reduce waste by 90% compared to traditional evaporation lithium extraction methods, driving global ESG standards. DLE technology is currently in operation at lithium brine projects in Argentina and China , with several more at the construction and pilot stage in Argentina and the USA .
The Laguna Project is an early exploration stage project located within the prolific lithium triangle, a zone within the central Andes high desert that includes Chile , Argentina , and Bolivia . This zone is estimated to contain more than half of the world's lithium supply beneath the many salt flats, also known as salars, that are common to the region. The Laguna Blanca property consists of 23 exploration concessions totaling 5,200 hectares, 100% owned by Lithium Chile through its wholly-owned Chilean subsidiary Minera Kairos Chile Limitada (" Minera Kairos "). The Laguna Project is accessible from the town of San Pedro de Atacama, 80 kilometres to the west via the paved road 27CH to the north end of Salar de Aguas Calientes then a truck accessible trail heading north to the interior of the property.
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
.
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 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 execution of the Definitive Agreement, obtaining TSX Venture Exchange approval and completing the proposed transaction with Lithium Chile, 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 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 Minerals Corp.
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