By Mark Weaver
TORONTO,
Jan. 4 /PRNewswire/ - Pele Mountain
Resources (TSX-V:GEM) is a Canadian mineral exploration and
development company focused on the sustainable development of its
100% owned flagship Eco Ridge Mine Uranium and Rare Earth Elements
("REE") Project in Elliot Lake,
Ontario. The vast uranium and REE mineralization at Eco Ridge
provides Pele investors with outstanding leverage to these critical
metals. Very shortly, Pele expects to release an updated NI
43-101 resource estimate that will include both uranium and Rare
Earth Oxides ("REO") for the first time.
As the uranium market continues firming and
extreme tightness in the REE market persists, market prices for
uranium and REE remain exceptionally strong. Particularly,
the uncertainty regarding long-term REE supplies has led to a rush
to develop REE resources outside of China. At
MoneyinMetals.com, we believe that Eco Ridge possesses strategic
advantages that may place it ahead of its competitors in the race
to bring these resources to production.
- Eco Ridge lies within a proven mining camp with well-understood
geology, in-place infrastructure, and which has produced more than
300 million pounds of uranium. Elliot Lake is the only Canadian mining camp
to reach commercial REO production and was once the primary source
of heavy REO in North
America.
- The goal is for Eco Ridge to be a uranium mine that would
produce REO as by-products. Therefore, it isn't wholly
dependent on the increasingly volatile REE market. Furthermore,
Pele has reported good recoveries of Yttrium & heavy REO that
would be available in the uranium leach solutions without
additional mining or processing costs!
- Eco Ridge can offer a secure and reliable REO source with
minimal geopolitical risk and with strong local support for project
development.
Pele Mountain has
invested considerable effort optimizing the mining, processing, and
waste management plans at Eco Ridge. Although, the market
environment may remain speculative with respect to uranium and REE
pricing, Pele Mountain is positioned
to be a leader among the emerging developers of these strategic
metals.
Forward-Looking Statements: Some of the
statements contained in the above article are
forward‐looking statements and not statements of
facts. Such statements are based on publically available
information contained in Pele
Mountain Resources' press releases or assumptions made from
other publicly available documents. Forward‐looking
statements are subject to various risks, uncertainties and other
factors that could cause actual results to differ materially from
expected results. Readers must rely on their own evaluation of
these uncertainties.
SOURCE Pele Mountain Resources
Copyright n. 4 PR Newswire
