- NeoTerrex Minerals (TSXV:NTX) uncovered additional critical minerals in summer surface exploration at its Galactic project in eastern Quebec
- High concentrations of zirconium and tantalum join robust prospects for niobium, neodymium and dysprosium on the project
- NeoTerrex Minerals is advancing a portfolio of prospective critical minerals projects in Quebec
- NeoTerrex stock has given back 65.52 per cent since inception in January 2024
NeoTerrex Minerals (TSXV:NTX) uncovered additional critical minerals in summer surface exploration at its Galactic project in eastern Quebec.
Grab samples from outcrops and boulders on the project reveal that, in addition to high concentrations of niobium (Nb), neodymium (Nd) and dysprosium (Dy), the area also hosts large concentrations of zirconium (Zr) and tantalum (Ta). These minerals are essential in the military, robotics and green energy sectors and demand is expected to grow in the coming years:
- Zirconium is used as a cladding material for uranium rods in nuclear reactors, creating a barrier between radioactive uranium or plutonium fuel and the reactor coolant.
- Niobium enhances the performance of jet engines and rockets and serves as a key component of superconducting magnets in MRI machines.
- Dysprosium and neodymium play starring roles in clean energy and defense, including in wind turbines, electric vehicle motors, precision-guided missiles and aircraft systems.
NeoTerrex believes that Galactic positions shareholders to benefit from a discovery thanks to the presence of a peralkaline granitic complex, a common trait of significant critical mineral deposits. The 11,156-hectare project resides 50 kilometres northwest of the mining port of Sept-Îles, Quebec, and within 35 kilometres of a highway and access to electricity.
Mineralogy studies are underway at Galactic to better understand 38 critical mineral occurrences observed since June 2024. Meanwhile, drilling at the company’s Valour copper project remains ongoing, with half the drillholes completed to date and the program expected to be completed before Christmas.
Leadership insights
“A review of the data collected this past summer along with the new assay results paints a clearer picture and magnitude of what our geologists have uncovered,” Mathieu Stephens, NeoTerrex Minerals’ president and chief executive officer, said in a statement. “The fact that 20 per cent of the samples collected in a 5 square-kilometre area contain high concentrations of these critical minerals is quite remarkable and goes to show that follow-up work is required here. In addition, the zirconium values are amongst the highest in Quebec and are comparable to those encountered at the Strange Lake and Crater Lake projects, which are located much further away from any infrastructure, unlike our Galactic project.”
Highlight grab samples from the Galactic project
| Occurrence | UTME | UTMN | Nb (ppm) | Ta (ppm) | Dy (ppm) | Nd (ppm) | Zr (%) |
| Andromeda I | 640120 | 5588236 | 9220 | 535 | 3020 | 6330 | 5.56 |
| Andromeda II | 640092 | 5588195 | 866 | 65.7 | 552 | 4580 | 0.98 |
| Andromeda III | 640086 | 5588170 | 1730 | 114.5 | 449 | 3290 | 0.25 |
| Andromeda IV | 640152 | 5588214 | 4070 | 199 | 1915 | 2270 | 0.85 |
| Andromeda IX | 640173 | 5588151 | 2270 | 63.8 | 1130 | 1155 | 0.47 |
| Andromeda V | 640122 | 5588243 | 8100 | 562 | 1160 | 2110 | 9.25 |
| Andromeda VI | 640062 | 5588225 | 2670 | 126 | 352 | 1300 | 0.97 |
| Andromeda VII | 640212 | 5588202 | 2870 | 132 | 241 | 365 | 0.05 |
| Andromeda VIII | 640185 | 5588174 | 1750 | 101 | 105 | 239 | 0.26 |
| Aquarius I | 641905 | 5588183 | 215 | 12.75 | 102 | 1105 | 2.51 |
| Canis Major | 639980 | 5587984 | 4490 | 189.5 | 2120 | 3310 | 3.79 |
| Canis Minor | 640013 | 5587972 | 508 | 66.5 | 142 | 1370 | 0.67 |
| Centaurus I | 639854 | 5587826 | 10400 | 408 | 2410 | 2860 | 0.79 |
| Ceres I | 639064 | 5588754 | 1895 | 336 | 1005 | 16350 | 0.06 |
| Corvus I | 638750 | 5588914 | 797 | 50.6 | 188 | 757 | 4.37 |
| Cygnus I | 639699 | 5588962 | 3400 | 172.5 | 288 | 1295 | 7.02 |
| Cygnus II | 639693 | 5588953 | 2220 | 102.5 | 162 | 270 | 5.90 |
| Cygnus III | 639699 | 5588887 | 776 | 41.5 | 97 | 797 | 0.46 |
| Draco I | 638958 | 5589082 | 1905 | 129.5 | 61 | 215 | 0.22 |
| Draco II | 638995 | 5589150 | 648 | 63.5 | 58 | 1095 | 0.13 |
| Gemini I | 639828 | 5588994 | 8880 | 442 | 4750 | 9000 | 0.64 |
| Gemini II | 639821 | 5588991 | 5260 | 273 | 446 | 952 | 0.54 |
| Hubble I | 639472 | 5589687 | 2490 | 202 | 3 | 6 | 0.03 |
| Hydra I | 639063 | 5588932 | 1790 | 103.5 | 296 | 1025 | 0.31 |
| Orion I | 638306 | 5590349 | 59 | 2.51 | 184 | 13900 | 0.00 |
| Pegasus I | 638864 | 5588830 | 11000 | 902 | 539 | 1710 | 0.04 |
| Pegasus II | 638905 | 5588812 | 2440 | 155.5 | 244 | 812 | 0.55 |
| Sagan I | 640110 | 5588435 | 1190 | 69.4 | 79 | 102 | 0.21 |
| Sagittarius I | 641309 | 5588272 | 5160 | 229 | 342 | 758 | 0.42 |
| Sagittarius II | 641314 | 5588241 | 1820 | 40.5 | 125 | 39 | 0.16 |
| Scorpius I | 638940 | 5588969 | 2690 | 178.5 | 651 | 5520 | 2.76 |
| Scorpius II | 638930 | 5588907 | 2000 | 116.5 | 72 | 225 | 0.37 |
| Scorpius III | 638902 | 5588964 | 1640 | 96.6 | 182 | 425 | 0.60 |
| Taurus I | 640501 | 5587984 | 1190 | 50 | 148 | 1030 | 0.92 |
| Ursa I | 640496 | 5587824 | 3030 | 120 | 452 | 719 | 0.95 |
| Vesta I | 641802 | 5588123 | 129.5 | 7.44 | 50 | 1055 | 0.59 |
About NeoTerrex Minerals
NeoTerrex Minerals is advancing a portfolio of prospective critical minerals projects in Quebec.
NeoTerrex stock (TSXV:NTX) last traded at C$0.10 per share. The stock has given back 65.52 per cent since inception in January 2024.
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(Top photo of NeoTerrex Minerals management at the TSX: TMX Group)