Revolver Rare Earths Project

New rare earth discoveries northeast of Saguenay

MINERALS OF INTEREST:
Rare Earth Elements (REEs) and Heavy Rare Earth Elements (HREEs)
LOCATION:
Northeast Quebec, 40 km northeast of Saguenay
SIZE:
~4,644 hectares (86 claims)
STATUS:
Active surface exploration

OVERVIEW

Neoterrex performed a successful 2024 prospecting program where several new rare earths bearing syenite pegmatite dikes were discovered
58 surface samples taken returned >0.3% TREO, 14 of which were >1% the highest being over 7%
6 samples contained >0.1% HREO, up to 0.33% HREO

Introduction

In the summer of 2024, Neoterrex conducted a comprehensive surface prospecting program following the discovery of heavy rare earths (HREO) in the area during a 2023 government regional survey. NeoTerrex discovered rare earth element bearing syenite outcropping at surface at several locations on the Revolver property. More work is necessary to determine the control of mineralization, however mineralized syenite appeared to be strongest in occurrences discordant to the regional NNE foliation.

Location and Infrastructure

The Revolver project consists of 86 claims totaling 4,644 hectares located 40 km northeast of the town of Saguenay, Quebec. Saguenay is equipped with a deep-sea port and is fed by a main facility 735KV hydroelectric power line. Mining development in the region is ongoing with Niobec’s world class Niobium mine in operation since 1976 located 25km northwest of Saguenay and First Phosphates proposed 10,000t/y iron phosphate plant in the town of Saguenay.

The project is approximately 1 hour drive from Saguenay via highway 172. The property contains a network of gravel roads with smaller ATV trails that provide access to more remote portions of the project.

Geology

The property consists primarily of gneiss assemblages; fine- to medium-grained paragneiss, foliated and unbanded or sparsely banded and a granular gneiss, strongly banded, which locally shows strong isoclinal folds. The vast majority of the numerous syenites and granitoids encountered are concordant to the banding of the gneiss, but more rarely intersecting the gneiss (see Figure 1). The intersecting syenites seem to be more interesting in terms of mineralization observed. These are mostly coarse to very coarse-grained, locally pegmatitic syenite, and appear to concentrate the bulk of REE mineralization. Carbonatite injections have been identified, and, although they do not appear to have mineralization, they are often associated sparingly with mineralization-bearing syenites.

Historical Work

A geological survey by the Ministère Bulletin géologique was conducted in the summer of 2023 with the aim to improve geologic knowledge and asses mineral potential. This survey discovered the “Jalobert sud-est” showing that sits within a section of claims encompassed by the Neoterrex claimblock but not owned by Neoterrex. The Jalobert sud est showing contains 0.94% rare earth elements, with 0.38% Cerium and 0.26% Yttrium. It is also associated with pegmatitic intrusions. Prior to Neoterrex’s acquisition, the project had been under explored for its rare earth bearing potential.

NeoTerrex Exploration and Results

NeoTerrex completed its first, 3-week, exploration program in July 2024. A total of 292 grab samples were taken, including 11 boulders. 58 surface samples taken returned >0.3% TREO, 14 of which were >1% the highest being over 7%. 6 samples contained >0.1% HREO, up to 0.33% HREO. The following Table highlights samples taken above 0.8% TREO.

Showing	Sample	UTME	UTMN	TREO (%)	HREO (%)	HREO/TREO	Dy2O3 (%)	Nd2O3 (%)
Colt	L767150	385823	5379010	7.16	0.31	0.04	0.08	1.26
Astra	L767032	385652	5378564	6.80	0.14	0.02	0.03	1.03
Beretta	L767072	386638	5383605	5.85	0.22	0.04	0.06	1.01
Anaconda	L767165	385640	5378525	5.34	0.07	0.01	0.01	0.84
Diamondback	L767160	386018	5379973	4.19	0.07	0.02	0.02	0.68
Dragoon	L767033	385637	5378524	3.75	0.05	0.01	0.01	0.60
Cobra	L767031	385664	5378581	2.19	0.03	0.01	0.01	0.36
Python	L766429	381229	5379125	2.09	0.33	0.16	0.08	0.23
Walker	L766428	381225	5379128	1.51	0.28	0.18	0.07	0.13
Barracuda	L766413	385326	5380780	1.20	0.02	0.02	0.00	0.19
Bull Dog	L767010	384250	5379281	1.17	0.06	0.05	0.02	0.18
Remington	L767101	381243	5378972	1.09	0.11	0.10	0.03	0.17
Smith	L767151	385026	5377749	1.02	0.03	0.03	0.01	0.17
Wesson	L767048	385431	5377925	1.01	0.02	0.02	0.00	0.17