Altona Rare Earths (LSE:REE) shares rose 6.8% to 2.35p after assays confirmed heavy rare earths enrichment and the first identification of xenotime at Monte Muambe.
Results include intercepts up to 30m at 2,677ppm HREO, HREO/TREO ratios from 21% to 77%, individual Dy2O3 grades up to 567ppm and a significant-intercept weighted average of 172ppm Dy2O3, making dysprosium the main value driver for the mineralisation.
"Widespread HREE enrichment and the first identification of xenotime at Monte Muambe open a compelling pathway to HREE production as a by‑product of our fluorspar operation," said Cedric Simonet, CEO.
The assays come from diamond and reverse-circulation holes across the Fluorite Zone, Southern Extension, Kudu and Python and were completed as reassays following the company’s 14 April announcement, the company said.
Subject to ongoing geological modelling and metallurgical work, Altona expects in the coming weeks to decide whether a dedicated HREE mineral resource estimate is warranted.
