5pc rare earths over 800m of strike? There’s lots to like about Many Peaks’ emerging Odyssey project

Surface campaigns have defined over 2.2km strike of TREO (total rare earths) across the Mann 2 corridor at the Odyssey project in Canada’s Labrador province
>5% TREO results located within 800mextentwithin the Mann 2 corridor –up to 6.3% TREO in recent results and up to 9.3% TREO in previous results
High-value NdPr averages 20% of the combined TREO values in reported results

Exploration at the Mann 2 prospect at Many Peaks’Odyssey REE project show up to 6.3% TREO in recent sampling, and combined with previous work hosts multiple >5% TREO results over a >800m strike length within a 2.2km long mineralised (>1% TREO) corridor.

Many Peaks’ (ASX:MPG) Odyssey is in the Red Wine rare earth element (REE) district in Canada’s Labrador province and is host to more than a dozen REE, zircon and niobium occurrences.

20km east of Odyssey, the Two Tom project is along the same horizon and has an inferred resource of 40.6Mt @ 1.18% TREO, with 0.244% NdPr and 0.26% niobium (Nb2O5).

Neodymium and praseodymium (NdPr) are high value REEs and critical inputs into the clean energy sector, required for generating low-weight permanent magnets for use in numerous applications, like EVs and wind turbines.

While not a rare earth, niobium – a high-value element used for strengthening steel and widely used in the aerospace industry – is often found within NdPr-laden REE deposits.

Geology of the Red Wine REE district with historical project locations. Pic supplied: (MPG)

Plus kilometre-long high grade targets

Surface geochemistry and mapping campaigns have defined >800m strike of >5% total rare earth oxides (TREO) at Odyssey across two zones of sampling located within the 2.2km long corridor of sampling with >1% TREO surface geochemistry results.

TREO values across the project area are well endowed with NdPr, On averaged comprising 20% of the total rare earth oxide values reported

Assay highlights at highly prospective targets include up to 6.3% TREO with 1.34% NdPr at Mann 2 West and up to 5.8% TREO with 1.16% NdPr at Mann 2 East.

Results also identified additional areas of outcrop and sub-cropping mineralisation along trend from previous assay work.  The additional sampling supports the potential for continuity between the zones and extends the strike of >5% TREO values at surface.

Recent work also highlights a third, sub-parallel trend of mineralisation within the Odyssey project.  The newly defined trend of mineralisation returns several >1% TREO results within 700m extent and combined with previous sampling work forms a 1km long trend of mineralisation located immediately north of the high-grade results reported in the Mann 2 corridor.

Sampling results from the Odyssey project. Pic supplied: (MPG)

Many Peaks exec chair Travis Schwertfeger says the new channel and surface sampling results are very exciting.

“The recent surface geochemistry campaign at Odyssey supports lateral extensions of high-grade mineralisation,  outlining significant size and bulk tonnage potential at Odyssey where multiple targets have been highlighted for follow-up work.”

 

This article was developed in collaboration with Many Peaks Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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