Monumental Minerals Corp. announced the commencement of drilling at the Jemi rare earth element (REE) project (the "Project") in Coahuila, Mexico, about 40 km south of the Texas, USA border. A diamond drill rig from Globexplore Drilling SA is now aligned on the first drill target, on the Veladora North prospect area within Monumental's claims. The drilling will test areas with high concentrations of REE-mineralized dykes and sills at the surface, and the Company's REE deposit model for Jemi.

The model was developed based on detailed geological mapping, regional stream sediment sampling, ground radiometric geophysical surveys, and lithogeochemical sampling and suggests a mineralized REE layered intrusion (source of the dykes and sills) exists at a depth of less than 300 m. Monumental is planning to test a total of 6 drill targets to approximately 300 m each during this maiden campaign. The Jemi project is characterized by broad areas of peralkaline intrusion-related REE mineralized dyke and sills at the margins of the La Vasca igneous complex. These intrusive bodies contain high grades of heavy rare earth elements (HREEs) dysprosium (Dy) and terbium (Tb), light rare earth elements (LREEs) neodymium (Nd) and Praseodymium (Pr), all critical to permanent magnets for EVs.

Additionally, samples contain high concentrations of niobium (Nb) and tantalum (Ta). Rare Earth Element Value and the Global Energy Transition Because of their unusual physical and chemical properties, REEs have diverse energy, industrial, and military technology applications. It is projected that rare earth magnets will maintain dominant market share, powering EVs as well as other types of electric motors (e.g., wind turbines, water pumps) this decade, as there is minimal to no substitution risk.

Significant demand growth is therefore expected for key magnet rare earths (Nd, Pr, Dy, and Tb) is likely to continue. The strongest magnets are neodymium-iron-boron (NdFeB) and are used when space and weight restrictions are present. The addition of terbium and dysprosium to NdFeB magnets can double their optimal operating temperature from 80degC to 160degC.

In addition, dysprosium with praseodymium increases a magnet's coercivity (the resistance of a magnetic material to change in magnetisation). The four key REEs (Nd, Pr, Dy, Tb) represent 94% of the REE market by value, all of which are significantly elevated at Jemi. Concentrations of Nb and Ta are also present that are potentially economically significant.