Minta Est Yields Up to 1.8% In-Situ Monazite with 68% Rare Earth Oxides

A Breakthrough in Rare Earth Exploration

Peak Minerals Ltd (ASX, PUA) has announced a landmark discovery of high-grade rare earth-rich monazite at the Minta Est locality within its Minta Rutile Project in Cameroon. This new zone of mineralisation spans an impressive 121 square kilometres and forms part of the broader project area now exceeding 660 square kilometres. The discovery is notable for its exceptional grades and mineral assemblages, positioning Peak Minerals as a potential key player in the rare earths sector.

Exceptional Grades and Mineral Assemblages

Assays from 47 drill holes reveal in-situ monazite grades ranging from 0.5% to 1.8% total rare earth oxides (TREO), with an average TREO content of 68.2% within the monazite concentrate. Particularly striking is the magnet rare earth oxide (MREO) content, exceeding 25%, including up to 22.5% neodymium-praseodymium (NdPr) and 2.7% dysprosium-terbium (DyTb). These elements are critical for electric vehicles, wind turbines, and defense technologies, underscoring the strategic importance of the discovery.

The mineral assemblage at Minta Est is dominated by monazite, which constitutes up to 73% of the heavy mineral sands, alongside significant rutile (up to 35%) and zircon (up to 28%). Monazite’s market value is approximately three times that of rutile and zircon, highlighting the economic upside of this find. Importantly, the monazite is hosted in free-dig sands, allowing extraction through conventional mineral sands processing methods without the need for costly drilling, blasting, or milling.

Comprehensive Drilling and Ongoing Exploration

All drill holes at Minta Est have intersected mineralisation from surface to an average depth of 4 metres, confirming the continuity of the deposit. The current reconnaissance program covers an initial 3,500 square kilometres with broad drill spacings, aiming to identify higher-grade zones for infill drilling. With assays pending from an additional 290 holes, the exploration campaign is far from complete and promises further insights into the project's scale and grade distribution.

Moreover, the presence of coarse rutile nuggets, currently excluded from heavy mineral grade calculations, could materially enhance the overall value of the mineral sands. Peak Minerals is actively developing methods to quantify this oversize mineralisation, which may significantly boost the project's economic potential.

Strategic Context and Industry Comparisons

Monazite is a critical mineral in the global rare earth supply chain, prized for its enrichment in magnet rare earth elements essential to the energy transition. Compared to other mineral sands projects, such as Base Resources’ Toliara project in Madagascar and Iluka Resources’ Eneabba project in Western Australia, Minta Est’s monazite grades and rare earth distributions are highly competitive. The discovery aligns with global efforts to diversify rare earth sources beyond China, enhancing supply chain security for critical technologies.

Peak Minerals’ CEO, Casper Adson, emphasised the significance of the find, noting the potential for Minta Est to become a world-class asset due to its high-value mineral assemblage and ease of mining. The company is advancing metallurgical characterisation and plans to develop maiden Mineral Resource Estimates as exploration progresses.