Altona appoints consultants for maiden mineral resource estimate

(Alliance News) - Altona Rare Earths PLC on Thursday said it has appointed Snowden Mining ...

Alliance News 22 June, 2023 | 2:47PM
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(Alliance News) - Altona Rare Earths PLC on Thursday said it has appointed Snowden Mining Industry Consultants (Pty) Ltd to prepare its maiden JORC mineral resource estimate and scoping study.

Altona Rare Earths develops the Monte Muambe magnet rare earths project in north-west Mozambique, while Snowden Optiro is an "international geological and mining consultancy company with experience in rare earth projects", according to Altona Rare Earths.

Altona Rare Earths said Snowden Optiro recently prepared mineral reserve statements for other major carbonatite-hosted rare earth mining projects in Africa and Australia.

"Snowden Optiro is an internationally recognised advisory firm covering the entire mining cycle, with a solid reputation and an impressive track record on rare earths projects. For Altona, ensuring compliance to international standards by working with industry leaders is a must, and Snowden Optiro was an obvious choice," said Altona Rare Earths Chief Executive Officer Cedric Simonet.

"We have now started to receive the assay results from the 2022 drilling season, which will form the backbone of the MRE which we expect to announce in late August."

Shares in Altona Rare Earths were up 0.5% to 5.40 pence each in London on Thursday afternoon.

By Greg Rosenvinge, Alliance News reporter

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Security Name Price Change (%) Morningstar
Altona Rare Earths PLC 1.18 GBX 0.00 -

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