Altona Rare Earths PLC (LSE: REE) has announced outstanding results from its Monte Muambe project in Mozambique, revealing exceptionally high-grade fluorspar assays and encouraging metallurgical test data.
Independent laboratory assays from trench samples confirm calcium fluoride grades ranging from 69.72% to 93.31% CaF₂.
The discovery follows targeted trenching guided by gallium soil geochemistry, which outlined a continuous fluorspar body at least 120m long and up to 15m wide, and still open along its length.
In parallel, initial metallurgical testing using a Denver flotation cell by Peacocke Simpson laboratories achieved a concentrate grading 93.62% CaF₂. The work also demonstrated a removal of approximately 80% of iron impurities, bringing the concentrate within near or acceptable limits for acid-grade specification, essential for hydrofluoric acid and battery electrolyte applications.
These breakthrough results have prompted a significant shift in project strategy. Altona now envisages developing a 50,000tpa acid-grade fluorspar operation, substantially higher than the previously planned 15,000–20,000tpa met-spar operation. This revised scope leverages an indicative ore inventory of 3–4Mt at approximately 35% CaF₂, projected to sustain a mine life exceeding 12 years. Acid-grade fluorspar currently trades at around USD 440/t in China.
Additional follow-up exploration targeting gallium soil anomalies resulted in the identification of further high-grade fluorspar outcrops, signaling potential for an expanded mineral resource ahead of a formal JORC mineral resource estimate.
Looking ahead, Altona plans to proceed with an enhanced drill campaign and advanced metallurgical test program in the second half of 2025. The objectives include developing a definitive processing flowsheet, producing offtake samples for commercial engagement, and refining project economics to support feasibility and engineering work.
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