Rare Earth Metals' Consultant Lifton Provides Favourable Outlook on Clay-Howells Project
July 19 2011 - 9:53AM
Marketwired
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company")
(TSX VENTURE: RA)(OTCQX: RAREF)(PINK SHEETS: RAREF) is pleased to
report that Wardrop, a Tetra Tech Company (Tetra Tech) has been
contracted to undertake a resource evaluation of the Clay-Howells
Main Deposit. The resource calculation is expected to be completed
by the end of August and the expected completion date of the report
is early September. Additionally, Jack Lifton recently completed a
field visit to the project and provided an assessment of the
deposit potential regarding the synergies of producing a magnetite
concentrate with a Rare Earth Element (REE) and Niobium (Nb)
by-product. It should be noted that only limited mineralogy and
metallurgical assessment has been carried out to date and detailed
work would be needed to understand how well the various commodities
could be separated.
The Clay-Howells project is located 45 kilometers
north-northeast of Kapuskasing, Ontario. The property is accessible
by existing forest roads leading north from the mill town of
Kapuskasing, where infrastructure including highway, railroad,
pipelines and airports are readily available. Intersections from
drilling in January to March, 2010 had confirmed that the
Clay-Howells Iron - REE - Nb deposit is host to a 50 to 100 meter
thick massive to banded magnetite unit with significant REE and
Niobium mineralization. Drill results from an 18 hole program
carried out in 2010 included intersections up to 0.69% TREO, 0.14%
Nb205, 57.8% Fe203 over 105.3 meters which included a higher grade
section of 1.088% TREO, 0.14% Nb205 and 65.95% Fe203 over 16.9
meters. (See press releases for February, March, and April,
2010).
Jack Lifton, who is a well respected expert on REE economics and
an advisor to the Company, recently visited the Clay-Howells site
and offered the following comments: "The Clay-Howells' deposit
represents an excellent opportunity to develop a "polymetallic
boutique" operation in which one or more valuable products are able
to subsidize the cost of others making the combination of them into
a profit-making mining operation. I consider Clay-Howells to be a
magnetite mine with rare earth and niobium by-products. This means
that the preparation and beneficiation of the magnetite will
naturally separate it from the rare earths and niobium. The
prepared magnetite at that stage will then be saleable at a profit
to the thermal coal washing industry (as "heavy media"). The
residue from this first stage operation can now be classed as a
rare earths/niobium concentrate. This concentrate can be processed
by known metallurgical techniques to separate the rare earths, as a
group, and the niobium. Both of these "by-products" of the
magnetite beneficiation have significant value at this stage. Since
I believe that the value of the magnetite produced could cover all
of the costs of the operation this means that the rare earths and
the niobium "concentrates" both can be sold into the market
competitively and add value directly to the bottom line of the
Clay-Howells operation. In this manner a polymetallic boutique
operation does away with the issues of the size and grade of the
original ore body considered only as a rare earths' deposit. A
mining operation economically and physically similar to the one I
am proposing for Clay-Howells, a polymetallic boutique, is well
into development (it is producing magnetite) in Turkey and will
soon come to the European market (where demand for all of its
products exceeds supply) as a supplier of magnetite heavy media for
thermal coal washing and a producer of concentrates of titanium,
zirconium, and rare earths. The combination of Clay-Howells'
minerology, its potential as well as actual infrastructure in
place, and of well known metallurgical techniques makes this
deposit an excellent candidate to be rapidly developed into a
polymetallic boutique capable of producing rare earth concentrates
competitively with "anyone" anywhere."
Commented Michael Stares, President of Rare Earth Metals, "We
are very pleased with Mr. Lifton's assessment of the project and
that Tetra Tech has taken on the task to give us a better
understanding of how many tonnes of the magnetite iron, rare earths
and niobium the Clay-Howells property holds. We continue to believe
that Clay-Howells holds great value as a specialized iron deposit
with much of the value coming from the Rare Earth Elements and
Niobium as by-products. The Company will continue to seek business
opportunities for the various components of the deposit and the
Tetra Tech report, once received, will help us to evaluate this in
more detail."
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 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 oft his 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 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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