Hudson 5 Tonne Bulk Metallurgical Surface Sample Grades 2.5% TREO-Sarfartoq Rare Earth Project, Greenland
10 1월 2012 - 11:00PM
Marketwired
HUDSON RESOURCES INC. (the "Company") - (TSX
VENTURE:HUD)(OTCQX:HUDRF) is pleased to announce that assays from a
five tonne bulk metallurgical sample, collected on surface at the
ST1 Zone, graded 2.5% Total Rare Earth Oxides (TREO). Neodymium
oxide averaged 20% of total REO's.
James Tuer, Hudson's President, stated, "The extraction of the
five tonne metallurgical sample is very exciting for several
reasons. Firstly, it confirms the presence of a significant amount
of high-grade rare earth material at surface. Secondly, and
possibly more importantly, it provides a sufficient quantity of
material for us to take the metallurgy through to pilot scale
testing. This sample will be incorporated into our updated resource
model which we expect to have out in the first quarter of
2012."
"As well, mineralogical studies conducted on the bulk sample
have confirmed that the rare earths are hosted within a distinct
"red" ankerite mineral in the ST1 body which contains bastnaesite
and monazite REEs. Our metallurgical studies are focused on
defining a process to extract these common rare earth bearing
minerals from the bulk material."
AVERAGE TOTAL RARE EARTH OXIDES (PARTS PER MILLION)
-------------------------------------------------------------------
TREO La2O3 Ce2O3 Pr2O3 Nd2O3 Sm2O3 Eu2O3 Gd2O3
-------------------------------------------------------------------
24,979 5,153 12,585 1,464 5,055 407 82 110
-------------------------------------------------------------------
Tb2O3 Dy2O3 Ho2O3 Er2O3 Tm2O3 Yb203 Lu2O3 Y2O3
-------------------------------------------------------------------
10.4 36.6 3.2 1.3 0.3 0.6 0.2 69.8
-------------------------------------------------------------------
The sample was randomly bagged in the field and approximately
700kg was shipped by air to the GeoAnalytical Laboratories of the
Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan. The
balance of the sample was sent by ground and has now been received
by the SRC. The initial 700kg sample was crushed and blended by the
SRC and four separate samples assayed by lithium meteborate fusion,
followed by dissolution in dilute HNO3 and ICP-MS analysis. A
portion of the bulk sample material was shipped to Ancaster Ontario
for processing at Activation Laboratories Ltd. (Actlabs) using
lithium borate fusion, acid dissolution and ICP-MS analysis.
Actlabs processed two separate assays. The results presented in
this press release represent the average of the results from the
two labs.
Metallurgical testwork of the ST1 Zone material is ongoing at
Hazen Research in Colorado, and the Saskatchewan Research Council
(SRC) in Saskatoon. Both SRC and Hazen are conducting flotation
tests. The entire metallurgical program is being directed by Dr.
John Goode who has more than 40 years experience in rare earth and
resource projects.
Recent metallurgical testwork from SRC has demonstrated
successful extraction of rare earths utilizing acid baking and
leaching. Test work showed that two hours of baking, at 220 degrees
C and approximately one tonne of acid per tonne of mineralized feed
(concentrate) recovers 94% of the TREO.
Magnetic testwork and mineralogical studies are ongoing under
the direction of Dr. Peter LeCouteur, P.Eng. With respect to the
bulk sample, three hand specimens were examined microscopically
with the objective of quantifying the rare earth element (REE)
minerals present in the material. Samples were examined in polished
thin section by light microscope and minerals of interest analyzed
on an AMRAY 1810 scanning electron microscope ("SEM") equipped with
an EDAX "Genesis" energy dispersive X-ray analyzer ("EDX"
analyses). Key findings are as follows:
-- The 2011 Safartoq bulk sample is a slightly oxidized surface sample of
ferrocarbonatite of the "ST1 Zone" and consists mostly of Ca-Mg-Fe
carbonates.
-- The only REE minerals identified in the bulk sample are: REE phosphate
monazite-(Ce), REE fluorocarbonate bastnasite-(Ce), and Ca
fluorocarbonate synchysite-(Ce)
-- The proportion of the three REE minerals varies from sample to sample
but overall it is estimated that about 50-70% of the REE are carried by
monazite, 30-50 % by bastnasite, and less than 5% by synchysite.
-- The hematized "red" ankerite contains +95% of the rare earth minerals
and is distinct in colour from the other minerals present as it is
pigmented with iron oxide.
-- About 90% of REE particles fall in a size range of 10 to 300 microns in
length. All the REE minerals occur as fine-grained single crystals that
range from about 5 microns to 80 microns long and as shapeless
aggregates of such crystals that are generally from 50 to 500 microns
across but occasionally up to 1 mm across.
Sarfartoq Project Background
Hudson recently released the results of a Preliminary Economic
Assessment (PEA) completed by Wardrop, A Tetra Tech Company (Tetra
Tech). Their Study shows a Net Present Value of $616M and an
Internal Rate of Return of 31.2 % with a 2.7 year pay-back period.
The Study was based on the Company's 43-101 compliant inferred
resource of 14.1Mt at 1.5% TREO at the ST1 Zone. The ST1 Zone
represents one of the industry's highest ratios of neodymium and
praseodymium to TREO, totaling 25%, based on the inferred resource.
It contains over 40 million kilograms of neodymium oxide, which is
the key component in permanent magnets and the fastest growth
sector of the rare earths industry. A total 16,514m over 71 holes
were drilled in 2011 and these results have not yet been
incorporated into either the resource estimate or the PEA.
The Sarfartoq REE project is located within 20 km of tidewater
and only 60 km from Greenland's international airport. The project
is owned 100% by Hudson. The Company is currently well financed
with approximately $12.5 million in working capital.
Dr. Michael Druecker is a qualified person as defined by
National Instrument 43-101 and reviewed the preparation of the
scientific and technical information in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
Forward-Looking Statements
This news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this news release, including, without limitation,
statements regarding plans for the completion of a financing and
the intended terms and use of proceeds thereof, and other future
plans and objectives of the Company are forward-looking statements
that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's plans or
expectations include market prices, general economic, market or
business conditions, regulatory changes, timeliness of government
or regulatory approvals and other risks detailed herein and from
time to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Hudson Resources Inc. James Tuer President
604-628-5002 or 604-688-3415 604-688-3452
(FAX)tuer@hudsonresources.cawww.hudsonresources.ca
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