Rare Earth Metals Reports Update from Drilling on Its Two Tom Deposit in Labrador
08 9월 2011 - 9:30PM
Marketwired
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company")
(TSX VENTURE: RA)(PINK SHEETS: RAREF)(OTCQX: RAREF) is pleased to
report preliminary Rare Earth Element results from three additional
holes on the Two Tom Mineralized Zone at the Red Wine Property,
located approximately 110 kilometers northeast of Churchill Falls
in west central Labrador. The results include best intersections of
1.86% TREO over 121.5 meters within a larger zone of mineralization
which assayed 1.46% TREO over 195.15 meters in drill hole
DDH-TT-13, 1.82% TREO over 89 meters in drill hole DDH-TT-14, and
2.15% TREO over 120 meters within a larger zone of mineralization
which assayed 1.68% TREO over 176.5 meters in drill hole
DDH-TT-15b. The HREO/TREO ratios from these intersections range
from 5.2% to 6.0%. Beryllium and Niobium results are pending. These
drill holes are part of the delineation drilling being carried out
on the Two Tom deposit and are located on the west half of the
deposit, on Zimtu Capital Corp. optioned ground. Rare Earth Metals
has an option to earn a 100% interest in the property, subject to a
retained royalty. (See press release dated Sept 2, 2010.)
The northwest striking Two Tom Zone has been traced by
prospecting, trenching, and drilling for a minimum of 1.3
kilometers and is located at the eastern end of the Red Wine
Peralkaline Complex. A total of seven holes, totalling 2263 meters
of the planned twelve infill drill holes, have been completed, and
all holes intersected the REE/Nb/Be zone over substantial widths.
The 2011 drilling is planned to test the Two Tom mineralized zone
on 100 meter sections as a prerequisite to the calculation of a
resource. Wardrop, a TetraTech Company, has been retained by Rare
Earth Metals to complete an independent resource report for the Two
Tom Deposit, expected to be completed by the first quarter of 2012.
Additional results from the drill program will be released as they
are received. A map of the Two Tom drill-hole locations can be
found on the Company's website at www.RareEarthMetals.ca. True
widths are generally 70 to 90% of the drill widths. Significant
results from the latest drill hole are tabulated below:
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HREO
Hole HREO(i) TREO
Drill Depth From To Interval TREO(i) TREO(i) (Excluding Y)
Hole (m) (m) (m) (m) (%) (%) Y2O3(%) (%)
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TT-13 258 23.4 218.5 195.1 1.46 5.6 0.04 2.8
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Inc
49.8 171.3 121.5 1.86 5.4 0.05 2.7
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and
194.1 218.5 24.4 1.86 5.4 0.05 2.6
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----------------------------------------------------------------------------
TT-14 349 123 212 89 1.82 6.0 0.055 3.0
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and
225.5 270.5 45 0.79 6.9 0.029 3.4
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TT-15b 447 106.5 282 176.5 1.68 5.3 0.047 2.6
----------------------------------------------------------------------------
Inc
106.5 226.5 120 2.15 5.2 0.058 2.6
----------------------------------------------------------------------------
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(i)TREO (Total Rare Earth Oxides) includes the sum total of the Light Rare
Earth Oxides (LREO) and Heavy Rare Earth Oxides (HREO)
(i)HREO includes: Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3,
Lu2O3and Y2O3LREO includes: La2O3, Ce2O3, Pr2O3,Nd2O3 and Sm2O3
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The Company has been carrying out field work on the Red Wine
Belt since June, 2010, and the 2011 drilling is being targeted on
two mineralized zones - the Two Tom and the Dory Pond. A total of
six holes were recently completed on the Dory Pond Zone, and
initial results indicate this area has a substantial Heavy Rare
Earth component. Results from the first reported drill hole in this
area returned an intersection of 1.55% TREO (HREO/TREO of 42.1%)
over 21.0 meters within a wider intersection of 1.11% TREO
(HREO/TREO of 41%) over 42.9 meters. (See previous press release
dated Sept 6, 2011.) Additional results on the remaining five holes
will be released as they are received.
Core from the drill program was transported by helicopter from
the drill site, logged at Rare Earth Metals' camp and split in half
using a diamond table saw or a manual core splitter. One half of
the core was sent to Activation Laboratories Ltd. ("Actlabs") for
analysis and the other half was kept in core boxes at the camp for
reference. All samples were delivered by Company personnel to
Actlabs' sample preparation facility in Happy Valley-Goose Bay. The
samples were processed and representative pulps sent to Actlabs'
analytical facility in Ancaster, Ontario. The digestion technique
was total digestion that employs a lithium metaborate/tetraborate
fusion and the analysis is completed using ICP, ICP/MS and XRF
techniques. For QA/QC purposes Rare Earth Metals systematically
inserts standards, duplicates and blanks into every sample batch.
Actlabs is an ISO 17025 (Lab 266) and NELAP (lab E87979) accredited
lab for specific registered tests.
The Rare Earth Element assays are reported as Total Rare Earth
Oxides (TREO), the Niobium assays are given as Niobium Oxide
(Nb2O5), and the Beryllium assays are given as Beryllium Oxide
(BeO). The TREO includes all the Rare Earth Oxides plus Yttrium
Oxide. As per industry standard the TREO are broken down into Light
Rare Earth Oxides (LREO) and Heavy Rare Earth Oxides (HREO). The
LREO consists of Ce2O3, La2O3, Nd2O3, Pr2O3 and Sm2O3 and the HREO
consists of Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3,
Lu2O3 and Y2O3. The %HREO is calculated by dividing the HREO by the
TREO. The most abundant REEs from the drill hole composites
described above are in decreasing order: Cerium, Lanthanum and
Neodymium. A breakdown of the most abundant REEs from the drill
holes can be found on the Company's website at
www.RareEarthMetals.ca.
Wayne Reid, PGeo, is a qualified person as defined in National
Instrument 43-101, and has reviewed and approved the technical
information forming the basis for release.
About Rare Earth Metals Inc.
Rare Earth Metals is a well funded company with a focus on
exploring for Rare Earth Element (REE) deposits. The Company's
shares are listed on the TSX-V exchange under the symbol RA and the
OTCQX exchange under the symbol RAREF. The Company presently has
two advanced projects in Ontario and Newfoundland and Labrador,
both exhibiting multi element potential (REEs, Niobium, Beryllium,
Zirconium and Iron Ore) and proximity to available infrastructure.
Its flagship properties are the Clay-Howells Prospect and the Red
Wine Project. The Company has recently acquired additional
properties in the Coldwell Complex near Marathon, Ontario and the
Lavergne-Springer REE Prospect near Sturgeon Falls, Ontario.
Additional information concerning the Company is contained in
documents filed by the Company with securities regulators,
available under the Company's profile at www.sedar.com. For more
information please visit the Rare Earth Metals web site at
www.rareearthmetals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF RARE EARTH METALS
INC.:
Michael Stares, President and CEO
This release includes certain statements that may be deemed
forward-looking statements. All statements in this release, other
than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and those actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, Investors should
review the Company's filings that are available at
www.sedar.com.
Company information distributed through the Market Access
Program is based upon information that Standard & Poor's
considers to be reliable, but neither Standard & Poor's nor its
affiliates warrant its completeness or accuracy, and it should not
be relied upon as such. This material is not intended as an offer
or solicitation for the purchase or sale of any security or other
financial instrument.
"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: Rare Earth Metals Inc. Michael Stares President and
CEO (807) 623-6840 (807) 623-9526 (FAX) www.RareEarthMetals.ca
Consultant: Nick Vermeulen (807) 623-6840 or Cell: (604) 741-4150
(807) 623-9526 (FAX) nick@rareearthmetals.ca Standard and Poor's
Customer Contact: Richard Albanese (212) 438-3647
richard_albanese@standardandpoors.com Standard and Poor's Media
Relations Contact: Michael Privitera (212) 438-6679
michael_privitera@standardandpoors.com
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