Rare Earth Metals Acquires Manitouwadge Graphite Property
24 2월 2012 - 10:30PM
Marketwired
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company")
(TSX VENTURE:RA)(OTCQX:RAREF)(PINKSHEETS:RAREF) is pleased to
announce the recent acquisition, through staking, of the
Manitouwadge Graphite Property. The property consists of 128 staked
claim units totaling 2072 hectares and is located approximately 30
kilometers north of the town of Manitouwadge in northwestern
Ontario. The property encompasses the Thomas Lake Road Graphite
Occurrence as well as several airborne electromagnetic conductors
thought to be associated with the Graphite.
The Thomas Lake Road Occurrence is described as a flake graphite
showing, locally up to 20%, hosted within a four meter wide
structural zone within strongly metamorphosed sediments (ref. OGS
Open File Report 5889). The staked claims also encompass a number
of airborne electromagnetic (AEM) anomalies which were identified
from a 1989 geophysical survey completed by Dighem Surveys for
Noranda Exploration Services. The graphite showing is coincident
with one of these AEM anomalies, however, the source of the
"conductors" remains to be ascertained.
In summary, the Manitouwadge Graphite Property has a number of
positive elements including a known, but little worked, flake
graphite showing, the occurrence of numerous AEM "conductors", one
of which is proximal to the flake graphite showing, and a
geological environment consisting of recrystallized metasediments
which is a common host to most flake graphite deposits. An initial
grassroots program of trenching/sampling/geophysics on the Thomas
Lake Road Occurrence and prospecting of the AEM "conductors" will
be scheduled for after breakup. Rare Earth Metals is seeking a
partner to help fund the exploration program.
Michael Stares, president and CEO of Rare Earth Metals states,
"The demand for coarse flake graphite is rapidly growing for new
technology applications such as its use in lithium ion batteries
which require 20 times more graphite than lithium. The graphite
market like the rare earth element market is controlled by China
which produces 75% of the world graphite supply, however, China
produces mainly small flake graphite and at low 2% to 6% grade. The
Manitouwadge Graphite Project is a low cost exploration venture
that will be a good addition to the Company's portfolio of
strategic metals properties."
Reg Felix, P Geo., 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 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) Corporate Communications:
Rare Earth Metals Inc. Matt Witiluk, C.A. (807) 623-6840 (807)
623-9526 (FAX)matt@rareearthmetals.ca www.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
Canada Rare Earth (PK) (USOTC:RAREF)
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Canada Rare Earth (PK) (USOTC:RAREF)
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