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Drill Results

NeoTerrex Receives Drill Permits for its Monument Rare Earths Project

By The Northwire Desk — AI Analysis Oct 15, 2025 · 07:01 NTX · 0.345 Neoterrex Minerals Inc.
NTX · Price

Executive Summary

  • NeoTerrex Minerals received all required drill permits to commence the first phase of drilling on its 100%-owned Monument REE project in Québec.
  • The initial drilling program will consist of 14 holes totaling ~2,000 m, slated to start in early November 2025, with potential expansion based on early results.
  • The company remains well‑financed with approximately $3 M of working capital and no debt, supporting parallel advancement of its broader critical‑minerals portfolio.

Key Details

  • Permit Approval: Full drill permit package received for the Monument project covering 53 mineral claims (2,944 ha).
  • Drilling Plan: 14 holes, ~2,000 m total depth; start early November 2025; program may be expanded if initial results are encouraging.
  • Historical Work: Only two legacy drill holes from the 1990s exist within the project area; they intersected carbonatite but were never assayed for REE.
  • Prior Exploration: Fall 2024 airborne magnetic & electromagnetic survey identified strong coincident anomalies comparable to those at the adjacent Montviel deposit; 2025 surface work included soil and till sampling.
  • Resource Context: Adjacent Montviel light‑REE deposit hosts a NI 43‑101 indicated resource of 183.9 Mt @ 1.45 % TREO and an inferred resource of 66.7 Mt @ 1.46 % TREO (SGS Canada, 2011).
  • Strategic Importance: Emphasizes neodymium’s role in EVs, wind turbines, robotics, and defense; highlights Western supply‑chain diversification needs.
  • Financial Position: Approximately $3 M of working capital; zero debt, providing flexibility for multiple concurrent projects.
  • Community Engagement: Ongoing proactive engagement with Indigenous communities throughout project development.

Notable Quotes

“The receipt of our drill permits comes at a very opportune time, coinciding with a surge of global interest and investment in the rare earths sector.” – Mathieu Stephens, President & CEO

All forward‑looking statements are subject to risks and uncertainties; actual results may differ materially.

Read the original news release →

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Drill Results