Rare Earth Metals Confirms REE Mineralization in East Lavergne Mineralized Zone on Its Springer Lavergne Prospect
24 10월 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 the completion of the initial drill program on the Lavergne
REE Prospect. A total of seven holes were completed as an initial
test to confirm and expand on historic results which had
indications of wide zones of Rare Earth mineralization. This recent
drilling is the first exploration program carried out on the
property since 1969. The preliminary results, as outlined in the
Results Table below, includes previously released results from the
initial three holes, (SL-01 to SL-03) plus the four remaining holes
(SL-11-04 to SL-07). The drilling tested two areas of REE
mineralization: East Lavergne Zone and West Lavergne Zone, both of
which are within the Lavergne Option Property in Springer Township.
RA is earning a 100% interest in the Mineral Rights to the Patented
Lavergne Property and is in the process of completing the purchase
of the Surface Rights to the eastern half of the Patent (64
hectares) which covers the Lavergne Zones. The claims are located 8
km north of the Trans-Canada Highway, immediately north of the Town
of Sturgeon Falls and 80 km east of Sudbury, Ontario.
The initial five holes tested the Lavergne West Zone over a
strike length of 300 meters and produced drill widths varying from
79 meters to 360 meters with higher grade intersections up to 1.65
TREO over 90.2 meters in the most northerly hole. This zone is
completely open. The final two holes tested a separate area, the
Lavergne East Zone, over a possible 300 m strike length. The
southern hole, SL-11-06, intersected the mineralization with
results including 1.60% TREO over 28.8 meters within a larger zone
of mineralization which assayed 1.10% TREO over 57 meters. Hole
SL-11-07 was drilled 300 m to the northeast of SL-11-06 and
intersected lower grade values.
The Company is very excited about these initial results which
have defined a strong REE system with extremely low Th and U
values. The mineralization appears to be amenable to open pit
mining and initial mineralogy reports indicate that the host
mineral, synchysite, is relatively simple to concentrate. The
property location on patented mining and surface claims close to
one of Canada's premier mining camps in Sudbury are also huge
positives for any future developments. Additional drill testing is
planned to be completed during the winter, 2012 when freezing
conditions will allow easier access. This next phase of drilling
will establish the geometry and continuity of the zones and will
help to establish if the East and West Zones are connected and are
a part of a much larger mineralized system.
The Company has also recently completed a 960 line kilometer
helicopter-borne airborne radiometric and magnetic survey over the
16 kilometer long Springer property (approximately 1350 hectares).
Flight-line spacing was generally at 100 meters, with closer 50
meter spacing over the Springer-Lavergne sector of the property. A
follow-up exploration program to evaluate a number of airborne
magnetic and radiometric anomalies delineated by this survey is in
progress.
Commented Michael Stares, President of Rare Earth Metals, "We
are very pleased with the results from this first phase of drilling
and the recently completed airborne geophysical survey. We have
confirmed that there are rare earth enriched mineralized zones that
host simple mineralogy with the identification of synchysite as the
predominate REE bearing mineral on the Springer-Lavergne prospect.
Our next milestone is to complete a resource calculation sometime
in 2012."
Results from the first phase of drilling on the Springer
property are tabulated below. A location map of the drill holes can
be viewed on the Company's website at www.rareearthmetals.ca.
----------------------------------------------------------------------------
Hole Depth From To Interval TREO(i)
Drill Hole (m) (m) (m) (m) %
----------------------------------------------------------------------------
SL-01 413.3 25.6 385.4 359.8 0.94
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Inc 124.9 219.1 94.2 1.50
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----------------------------------------------------------------------------
SL-02 499 123.8 425.4 301.6 0.97
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Inc 132.8 268 135.2 1.24
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Inc 213.8 254.5 40.7 1.57
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----------------------------------------------------------------------------
SL-03 419.3 48.4 51.4 3 3.08
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78 81.0 3 1.26
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86.6 95.6 9 1.22
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101.4 258.9 157.5 1.43
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incl 101.4 226.1 124.7 1.51
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incl 102.9 113.4 10.5 2.00
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and 135.9 226.1 90.2 1.65
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282.9 330.5 47.6 0.85
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incl 315.4 323.5 8.1 1.33
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----------------------------------------------------------------------------
SL-04 442.6 69.2 414.5 345.3 0.81
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inc 238.1 299 60.9 1.07
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and 284 297.8 13.8 1.54
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SL-05 388.9 41.6 120.8 79.2 0.60
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348.3 372.0 23.7 0.62
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----------------------------------------------------------------------------
SL-06 242.6 84.4 213.4 129 0.78
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Inc 126.2 183.2 57 1.10
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Inc 133.7 162.5 28.8 1.60
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----------------------------------------------------------------------------
SL-07 184.7 50.5 77.6 27.1 0.60
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96.6 133.1 36.5 0.52
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156.4 171.1 14.7 0.68
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
HREO(i) Nd2O3
TREO(i) TREO
Drill Hole (%) Ce2O3(%) La2O3(%) Nd2O3(%) (%)
----------------------------------------------------------------------------
SL-01 6.7 0.42 0.21 0.17 18.4
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6.1 0.69 0.40 0.23 15.2
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----------------------------------------------------------------------------
SL-02 7.0 0.45 0.24 0.16 15.9
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8.1 0.56 0.32 0.18 14.3
----------------------------------------------------------------------------
5.4 0.74 0.41 0.23 14.8
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----------------------------------------------------------------------------
SL-03 2.6 1.48 0.91 0.42 13.8
----------------------------------------------------------------------------
1.8 0.61 0.39 0.16 13.1
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2.0 0.60 0.37 0.16 13.4
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3.1 0.67 0.41 0.21 14.4
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3.0 0.71 0.44 0.22 14.4
----------------------------------------------------------------------------
2.8 0.96 0.58 0.29 14.3
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3.0 0.78 0.48 0.24 14.3
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4.2 0.39 0.24 0.13 15.0
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3.6 0.63 0.38 0.19 14.2
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----------------------------------------------------------------------------
SL-04 7.7 0.35 0.16 0.17 20.7
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7.7 0.46 0.19 0.31 22.2
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6.2 0.69 0.31 0.32 21.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SL-05 5.9 0.26 0.11 0.14 22.6
----------------------------------------------------------------------------
2.9 0.30 0.18 0.09 14.2
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SL-06 3.3 0.37 0.18 0.15 18.8
----------------------------------------------------------------------------
3.1 0.52 0.26 0.20 18.5
----------------------------------------------------------------------------
2.8 0.75 0.38 0.29 18.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SL-07 7.9 0.27 0.15 0.09 15.7
----------------------------------------------------------------------------
5.6 0.24 0.13 0.09 16.7
----------------------------------------------------------------------------
2.9 0.33 0.18 0.11 16.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Core from the drill program was logged at Rare Earth Metals'
core shack on site and split in half using a hydraulic 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 Manitoulin Transport and shipped to Actlabs'
sample preparation facility in Thunder Bay, Ontario. Prepared
samples were forwarded to Actlabs' analytical facility in Ancaster,
Ontario for analysis. The digestion technique utilized 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
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 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 REE's
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 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 website 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)
438-3647richard_albanese@standardandpoors.com Standard and Poor's
Media Relations Contact: Michael Privitera (212)
438-6679michael_privitera@standardandpoors.com
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