What is the Wet Mountains rare earth project?

The Wet Mountains project in Colorado is a rare earth element project owned by Wyoming Critical Minerals, now set to be acquired by Magnum Mining.

What are the assay results for the Wet Mountains REE project?

Historical assays at the Wet Mountains project show total rare earth elements (TREE) up to 7.99%, with anomalous zones between 2% and 4% TREE.

Which companies are involved in the Wet Mountains REE acquisition?

Magnum Mining and Exploration is acquiring Wyoming Critical Minerals, the owner of the Wet Mountains REE project.

Home / Business and Economy / Magnum Eyes Colorado REE Riches

Magnum Eyes Colorado REE Riches

11 Dec

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Summary

Magnum Mining acquires Wyoming Critical Minerals in Colorado.
Project shows high-grade rare earth element assays up to 7.99%.
Site remains largely untested with significant discovery potential.

Australia-based Magnum Mining and Exploration has entered into a binding term sheet to acquire Wyoming Critical Minerals (WCM), the sole owner of the Wet Mountains rare earth element (REE) project located in central Colorado, USA. This strategic acquisition significantly bolsters Magnum's presence in the critical minerals sector.

The Wet Mountains project boasts historical assay results indicating substantial REE mineralization. Exposed carbonatite dykes have shown total rare earth elements (TREE) assaying up to 7.99%, with identified anomalous zones grading between 2% and 4% TREE. Further historical assays also reported promising levels of heavy rare earth elements, praseodymium, neodymium, and samarium.

Despite these encouraging historical findings, the Wet Mountains project has undergone minimal exploration, with no prior drilling or systematic sampling. This presents a substantial opportunity for near-surface discoveries. Magnum intends to initiate a rapid exploration program, including sampling, trenching, and drilling, to unlock the project's full value.