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 m3/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.