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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
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21 new rare earth elements occurrences discovered
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78 grab samples return Total Rare Earth Oxides (TREO) ranging from 0.3% to 7.16%
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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.