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VANCOUVER, BC, Nov. 29, 2021 /CNW/ - Monumental Minerals Corp. ("Monumental" or the "Company") (TSXV: MNRL) is pleased to announce the appointment of an advisory board to assist with the exploration and drill target definition of the Jemi heavy rare earth element (HREE) Project located in Coahuila, Mexico, about 40 km south of the Texas, USA border.
The Jemi Project hosts numerous rare earth element (REE) occurrences containing potentially economic concentrations of the high value magnetic REEs including neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb) with associated tantalum (Ta), niobium (Nb), and zirconium (Zr). Jemi sits within the North American Alkaline Igneous Belt, an under explored north-south trend over 3000km 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.
At present, ionic clay deposits in southern China and Myanmar are the primary source of the world's HREE, however the limited resource size, high environmental legacy of such deposits and increasing export restriction, is driving the discovery and development other more sustainable sources of HREE. The REEs Dy and Tb are typically enriched in peralkaline deposits and are essential for the performance of high strength permanent magnets for electric vehicles and wind turbines.
Exploration at Jemi is currently at an early stage, with less than 5% of the Project having been evaluated for HREE. A site visit is currently being planned and is expected to occur within the coming weeks to lay next steps for exploration.
Proposed Advisory Board
Mark Saxon, FAusIMM, MAIG – Senior Technical Advisor
Mr. Saxon brings thirty years of experience in the resources industry, representing junior and senior companies in Australia, Canada and Europe. An Honours BSc graduate in Geology from the University of Melbourne, he received a Graduate Diploma of Applied Finance and Investment in 2007. Mr. Saxon's experience covers most facets of the exploration and mining business in a wide range of geological environments, with a particular focus on discovery, processing, marketing and the political context of critical raw materials. Mr. Saxon has extensive experience in the exploration of peralkaline REE deposits.
Cal Everett, B.Sc, Technical Advisor
Mr. Everett is a geologist with more than 20 years of surface and underground exploration experience with senior mining companies. He moved to the financial sector in 1990 and spent 12 years with BMO Nesbitt Burns focused on resource equities, and seven years with PI Financial Corp. in senior resource institutional sales and capital markets. From 2008 to 2015, he was President and Chief Executive Officer of Axemen Resource Capital. Mr. Everett holds a Bachelor of Science degree in Economic Geology from the University New Brunswick. Mr. Everett is currently Chief Executive Officer and president of Liberty Gold Corp. (TSXV: LGD)
Dan Harmening, Technical Advisor
Dan Harmening is a Professional Land Surveyor and prospector with over 25 years of experience in the minerals exploration and mining business. He is the President, CEO and cofounder of Lago de Oro Resources and cofounder of 3rd Rock Exploration, both registered in USA and Mexico. Mr. Harmening is currently negotiating a sale agreement of Lago de Oro Resources SA de CV Mexico to a Canadian junior mining company. Previously, he vended several projects in Mexico, including the Jemi Rare Earth property into what is now Discovery Silver Corporation. He has facilitated over $40 million in private placements and open market investments in junior mining companies, and has consulted to several companies leading to major deposit discoveries in Nevada. Mr. Harmening holds a B.S. in Geomatics from Oregon Institute of Technology.
Craig Taylor, Strategic Advisor
Mr. Taylor is currently the CEO of Defense Metals (TSXV: DEFN) an advanced LREE exploration company that most recently completed a PEA on the Wicheeda Rare Earth deposit located in Prince George, British Columbia. From March 2008 until December 2016, Mr. Taylor was CEO of Saber Capital Corp., a former capital pool company, which was acquired by Aleafia Health in a $173mm transaction. In addition, he was a director of Valor Ventures, CPC that completed at QT with Advantage Lithium and was eventually acquired by Orocobre. Mr. Taylor was a founding director of Clear Mountain Resources Corp., a TSX-V listed company (now named Patriot One Technologies Inc.). Mr. Taylor has served as director and officer of several other public companies engaged in mineral exploration and development.
The Company granted 275,000 incentive stock options to advisors at a price of $0.50 per common share for a period of five (5) years.
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 own 100% of the 3,650-hectare project with additional acreage pending. 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/ "Todd Macdonald"
Todd Macdonald Chief Executive Officer
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 includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's plans for the Property, the Assignment, the Assignment Agreement and the Jemi Option Agreement and consideration and exploration obligations required therein, name and symbol change, resumption of trading date, other statements relating to the financial and business prospects of the Company, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information 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, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. 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.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; * competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; (xx) the impact of Covid-19 or other viruses and diseases on the Company's ability to operate; and other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
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, the loss of key directors, employees, advisors or consultants, adverse weather and climate conditions, equipment failures, failure to secure personnel and equipment, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE Monumental Minerals Corp.
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