02:04 PM EDT, 05/22/2024 (MT Newswires) -- NeoTerrex Minerals (NTX.V) on Wednesday said it completed a maiden drill program on its Mount Discovery rare earths property in southwestern Quebec.

The drill program consisted of 2,148 meters across 16 diamond drill holes, targeting various previously identified surface occurrences.

Scintillometer readings of the core indicated that anomalous quantities of thorium are present in nearly all holes, the company said.

The company drilled six holes at the King showing where a 2022 surface channel sampling had returned 3.25% Total Rare Earth Oxides over 27 meters in a channel sample.

One hole targeted the Sicilian showing and was extended to intercept a suspected fault and carbonatite unit under a small lake. Another hole targeted the Fork showing to determine if the zone extended laterally.

The company drilled four holes near the Bishop showing where a recent excavation revealed that the original discovery may extend farther north. Another hole targeted the nearby Blitz showing, the company added.

NeoTerrex shares were last seen up $0.005 to $0.20 on the TSX Venture Exchange.

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