Magnum Mining identifies 1.27square mile zone of Rare Earths in Colorado

Magnum Mining and Exploration has identified a 3.3 square kilometre zone of rare earth elements (REE) in Colorado, at its Wet Mountain Project, this week. The 3.3 km² radiometric pathfinder data includes the connected lobe of 2.6 km², which, according to the managing director, “provides a clear opportunity”. The Wet Mountain Project is located in an already recognised alkaline igneous area, characterised by numerous historical high-grade rock-chip samples. The prior USGS sampling had results as high as 7.99% Total Rare Earth Elements (TREE). With the new radiometric data & analysis, the indication is that these historical high-grade samples are associated with elevated equivalent thorium trends, as well as interpreted magnetic/structural features. So, these historic finds and new analysis, together, align to hone targeting vectors, which are intended to guide priority drill targets at Wet Mountain. Magnum Mining and Exploration Limited's managing director, Antonio Vitor Junior, said today the company now moves “...into a more coherent target-generation framework.” “The attraction is… historical carbonatite samples grading up to 7.99% TREE at surface, a multi-square-kilometre eTh radiometric footprint, and magnetic/structural features that may reflect the intrusive architecture of the system.” “The significance of Wet Mountain is that it provides Magnum with a clear opportunity to drill test the potential for a high-grade, large-scale carbonatite-related REE discovery in the United States. The project is strongly aligned with our exploration-led strategy, which is focused on advancing high-potential opportunities capable of delivering significant shareholder value,” Antonio further added. Magnum is preparing a first-pass diamond drilling program in Wet Mountain, but before that comes permitting and ground checking along with procuring contract drillers for the diamond drill. All up, the company has honed its target using available technologies and is preparing for drilling. So, this is a rare earth find in Colorado that comes as the USA has prioritised acquiring rare earths for aerospace, defence and medical technologies. It's half a US cent per share- this is the ground floor. OTC Ticker is MGUFF .