Mont Royal Confirms High-Grade Fluorspar at Mallard Prospect Near Ashram

High-Grade Fluorspar Discovery at Mallard Prospect

Mont Royal Resources Ltd (ASX:MRZ) has unveiled significant fluorspar mineralisation at its Mallard Prospect, part of the Eldor Carbonatite Complex in Québec, Canada. Historical drill holes, originally targeting niobium, revealed fluorspar grades soaring up to 39.8% CaF2 within the newly designated "Flux Fluorite Zone". This zone lies just 1.4 kilometres south-east of Mont Royal's flagship Ashram Deposit, which already hosts one of the world’s largest fluorspar resources.

The fluorspar mineralisation at Mallard is substantial, with intercepts such as 32.4 metres at 26.1% CaF2 and 0.4% Nb2O5, including a 5-metre section grading 38.8% CaF2, and 29 metres at 21.7% CaF2 with a 6.6-metre interval hitting 39.8% CaF2. The mineralised zone extends over an 80-metre strike length and 150 metres vertically, remaining open for expansion in multiple directions.

Strategic Proximity and Future Exploration Plans

Mont Royal’s Managing Director Nicholas Holthouse emphasised the strategic value of this discovery, noting that previous drilling at Mallard was not aimed at fluorspar but rather niobium, suggesting considerable upside potential from targeted fluorspar drilling. The proximity to Ashram offers opportunities for potential co-development, leveraging existing infrastructure and geological synergies.

This latest update builds on Mont Royal’s broader fluorspar ambitions, complementing the extensive resource at Ashram. The company is poised to undertake follow-up drilling at Mallard to delineate and expand the high-grade fluorspar zones, a step that could materially enhance the project’s critical minerals portfolio. The fluorspar mineralisation occurs predominantly within dolomite carbonatite, with high-grade intervals ranging between 15% and nearly 40% CaF2.

Robust Fluorspar Market Dynamics Supporting Development

Global fluorspar markets remain robust, with benchmark prices holding firm between US$500 and US$680 per tonne CIF Atlantic Basin for acid-spar grades (>97% CaF2), which are critical for hydrofluoric acid and downstream fluorochemicals used in pharmaceuticals, aluminium, semiconductors, and lithium-ion batteries. Met-spar fluorspar (>60% CaF2), used primarily in steelmaking and cement, commands prices around US$420 to US$520 per tonne.

China’s transition from dominant exporter to net importer has tightened global supply, elevating the strategic importance of secure Western supply chains. Mont Royal’s Eldor Property, situated in Quebec, a Tier-1 mining jurisdiction with access to ports like Sept-Îles and Saguenay, positions the company well to capitalise on these market shifts. Quebec’s aluminium industry alone consumes up to 200,000 tonnes of CaF2 annually, while Japan imports roughly 450,000 to 500,000 tonnes, underscoring regional demand.

Data Integrity and Next Steps for Mont Royal

The fluorspar grades reported derive from length-weighted averages of drill core samples collected with industry-standard protocols and analysed at accredited laboratories. Fluorine assays, converted to CaF2, were selectively completed in historical drilling focused on niobium, meaning fluorspar mineralisation may be underreported. Mont Royal plans to address this with more comprehensive future sampling and drilling programs.

This announcement follows Mont Royal’s recent large fluorspar resource at Ashram and comes as the company prepares to release an updated Preliminary Economic Assessment, which will likely integrate these new fluorspar findings alongside rare earth elements resource expansions highlighted in the BD-Zone resource growth potential update. Together, these developments paint a picture of a maturing project with multiple critical mineral streams.