NeoTerrex Minerals Inc. announced the successful completion of its maiden drill program on its 100%-owned Mount Discovery rare earths property located in southwestern Quebec (the ?Property?). The drill program consisted of 2,148 metres (of a planned 2,000 metres) across 16 diamond drill holes, targeting various previously identified surface occurrences. Scintillometer readings of the core suggest that anomalous quantities of thorium are present in nearly all holes, an element often associated with rare earth elements in this environment.

Six holes were drilled at the King showing where a 2022 surface channel sampling had returned 3.25% Total Rare Earth Oxides (?TREO?) over 27 meters in a channel sample (the true width cannot yet be established). The holes were drilled to determine the sub-surface extension of the mineralization, both laterally and at depth. One hole targeted the Sicilian showing (surface grab sample 2022: 6.99% TREO) and was extended to intercept a suspected fault and carbonatite unit located under a small lake.

Nearby, another hole targeted the Fork showing (surface grab sample 2022: 6.25% TREO) to determine if the zone extended laterally. Four holes were drilled near the Bishop showing (surface grab sample 2022: 10.23% TREO) where a recent excavation revealed that the original discovery may extend farther north. Another hole targeted the nearby Blitz showing (surface grab sample 2022: 10.10% TREO).

The Knight showing consists of a hand dug excavation close to a small creak with grab samples as high as 12.86% TREO. Three drill holes were completed at this location testing mineralization both at depth and its lateral extent. Detailed core logging is expected to be completed over the next week and samples will be sent to the laboratory and assayed for rare earth elements.

Preliminary assessment of the geology indicates the potential presence of an intrusive pegmatitic syenite adjacent to nearly all the areas drilled, potentially identifying the source of the rare earth mineralization. The geological composition of the Property includes a diverse range of formations, notably carbonatite which often contains a metasomatic pyroxene and biotite, gabbro, pegmatitic syenite, and occasional granites. Carbonatites, often rich in apatite and biotite phenocrysts, are typically found in valley bottoms near suspected major faults.

Notably, strong alteration zones are associated with areas of mineralization, with magnetite-bearing dykes or sills further enriching the geological context. The Property and surrounding area boasts robust infrastructure, encompassing road access, reliable power sources, and a skilled local labor force. These assets are instrumental in facilitating efficient exploration operations, cutting down costs, ensuring logistical smoothness, and expediting project timelines.

By capitalizing on a supportive regulatory environment, NeoTerrex is strategically positioned to advance the project. Rare earth elements are indispensable in the production of cutting-edge technologies like smartphones, electric vehicles, wind turbines and military applications. With China holding a dominant stance in the global rare earths supply chain, the exploration and development of new deposits have emerged as strategic imperatives for many countries and companies globally.