Ottawa, Ontario--(Newsfile Corp. - December 12, 2024) - NeoTerrex Minerals Corp. (TSXV: NTX) ("NeoTerrex" or the "Company") is pleased to announce the discovery of numerous Neodymium occurrences at its Revolver project (the "Project"), near Saguenay, Quebec.
Highlights
21 new rare earth elements occurrences discovered
78 grab samples return Total Rare Earth Oxides (TREO) ranging from 0.3% to 7.16%
12 grab samples returning values above 1% TREO
NeoTerrex acquired the Project by staking following the discovery of Neodymium and Dysprosium in the area during a recent government-sponsored geological mapping survey. The Project consists of 109 claims totalling 6,120 hectares located 39 kilometres east of the Niobec mine, a Niobium and rare earths deposit and 35 kilometres of the town of Saguenay. The Project is near infrastructure and is accessible by road.
NeoTerrex dispatched a team of geologists to the area to locate potential mineralization. 297 grab samples from outcrop and angular boulders were collected during the Company's maiden exploration program on the project and were assayed for rare earth elements. Results ranged from below detection up to 7.16% TREO with best results shown in the table and map further below. The reader is cautioned that grab samples are selective samples and may not necessarily be representative of the mineralization hosted on the Revolver project.
Mathieu Stephens, NeoTerrex's President and CEO, stated, "We are pleased to add the Revolver project to our portfolio of rare earths projects. Preliminary results, along with its easily accessible location and the proximity of the Niobec mine, one of the largest Niobium and rare earths deposits in North America, makes it an ideal opportunity to create additional value for the Company."
Figure 1
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| Showing Name | UTME | UTMN | TREO (%) |
| Cobra I | 386077 | 5380002 | 4.23 |
| Walker | 384250 | 5379281 | 1.17 |
| Bulldog | 385056 | 5381052 | 0.70 |
| Anaconda | 385652 | 5378564 | 6.80 |
| Bossu | 385899 | 5378591 | 0.89 |
| Dragoon II | 385405 | 5377884 | 0.69 |
| Dragoon I | 385431 | 5377925 | 1.01 |
| Detective | 387418 | 5381268 | 0.69 |
| Blackhawk | 386638 | 5383605 | 5.85 |
| Rhino | 381243 | 5378972 | 1.09 |
| Musket I | 386651 | 5379260 | 0.80 |
| Musket II | 386653 | 5379228 | 0.69 |
| Magnum | 385823 | 5379010 | 7.16 |
| Bearcat | 385026 | 5377749 | 1.02 |
| Cobra II | 386018 | 5379973 | 4.19 |
| Diamondback | 385640 | 5378525 | 5.34 |
| Python | 385751 | 5379516 | 0.72 |
| Barracuda | 385326 | 5380780 | 1.20 |
| Redhawk | 381229 | 5379125 | 2.09 |
| Bodeo | 381257 | 5378852 | 0.80 |
| Cobra III | 385959 | 5380012 | 0.96 |
QAQC
Analyses were performed by ALS Canada Ltd. with the analytical procedure performed in Vancouver (BC). All samples were analyzed using the method ME-MS89L. Ce, Dy, La, Nd, Pr and Y were used for monitoring the analyses.
Blanks and Certified reference materials (CRMs) with known grades (OREAS 463) were inserted among the samples. Rare earth element concentrations were provided from a lithium borate fusion with ICP-MS analysis (ME-ICP81 and ME-MS89L).
Qualified Persons
Technical and scientific aspects of this news release have been reviewed, verified, and approved by Mathieu Stephens, P.Geo., President and CEO of NeoTerrex, the Qualified Person, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About NeoTerrex
The Company is currently advancing its prospective critical minerals projects located in the province of Quebec with most located within or near areas with excellent infrastructure. NeoTerrex is positioning itself to capitalize on the growing critical minerals sector in North America with the exploration and development of new deposits.
For further information, please contact:
NeoTerrex Minerals Inc.
Mathieu Stephens, President & Chief Executive Officer
info@neoterrex.com
343-308-2648
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to NeoTerrex's future plans, objectives or goals regarding the Revolver project. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR+ website at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233409
SOURCE: NeoTerrex Minerals Inc.
