Technology Minerals PLC (LSE:TM1) announced the results of 27 rock samples collected at the Oacoma project in South Dakota, confirming the presence of rare earth oxide minerals.
Two samples showed total rare earth oxide values of 0.22% and 0.34%, with associated neodymium oxide and praseodymium oxide values respectively of 0.034% and 0.037% NdPr.
Seven of the 27 samples reported manganese oxide grades greater than 20% MnO, with the highest grading at 29.1% MnO
The Oacoma Project covers 13 state mineral leases covering a total of 3,083 acres in South Dakota, which the company believes is prospective for stratabound manganese and rare earth oxides as well as nickel, cobalt, copper.
The company currently holds 15% of the project, with the option to acquire up to a further 85% working interest, subject to the terms of an exploration agreement that is to be agreed, as part of an earn-in joint venture Agreement with North American Strategic Minerals Inc.
“We are pleased to report a positive set of results from the sampling survey at the Oacoma Project, which confirmed the presence of rare earth minerals and manganese,” said Alex Stanbury, chief executive officer of Technology Minerals.
“Following this encouraging start, we intend to advance our exploration at Oacoma with a more comprehensive and extensive sampling and mapping programme to continue to improve our understanding of the potential prospectivity of the project.”