Rare Earth Metals Intersects Significant Heavy REE Mineralization at Dory Pond Area, Red Wine Project, With HREO/TREO Ratio o...
September 06 2011 - 8:30AM
Marketwired
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company")
(TSX VENTURE: RA)(OTCQX: RAREF)(PINK SHEETS: RAREF) is pleased to
report preliminary Rare Earth Element results from drilling on the
Dory Pond project area of the Red Wine property. The second hole of
this drill program (DDH-B3N-03) was successful in testing an area
defined by a number of Heavy Rare Earth anomalous prospect samples
and resulted in 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. Of particular importance are
the high values in Dysprosium, Yttrium and Neodymium which compare
favourably with other more advanced Heavy Rare Earth Deposits.
Significant results from drill hole DDH B3N-03, along with the
individual REO analysis are tabulated below:
----------------------------------------------------------------------------
Interval HREO
From To (m) La2O3% Ce2O3% Pr2O3% Nd2O3% Sm2O3% TREO(i) TREO
----------------------------------------------------------------------------
8.2 m 51.1 m 42.9 0.122 0.295 0.053 0.163 0.035 1.11% 41.0%
----------------------------------------------------------------------------
30.0m 51.1 m 21.0 0.162 0.401 0.055 0.230 0.050 1.55% 42.1%
----------------------------------------------------------------------------
Table cont'd
----------------------------------------------------------------------------
(m) Eu2O3% Gd2O3% Tb2O3% Dy2O3% Ho2O3% Er2O3% Tm2O3% Yb2O3% Lu2O3% Y2O3%
----------------------------------------------------------------------------
42.9 0.004 0.035 0.007 0.043 0.010 0.027 0.004 0.022 0.003 0.299
----------------------------------------------------------------------------
21.0 0.006 0.050 0.009 0.061 0.014 0.040 0.005 0.031 0.004 0.432
----------------------------------------------------------------------------
TREO (Total Rare Earth Oxide) includes the sum total of the Light Rare Earth
Oxides (LREO) and Heavy Rare Earth Oxides (HREO)
HREO includes: Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3
and Y2O3
LREO includes: La2O3, Ce2O3, Pr2O3, Nd2O3 and Sm2O3
Commented Michael Stares, President and CEO of the Company, "We
are delighted with the initial results from Dory Pond. We had
indications that there might be a significant Heavy Rare Earth
component to the Red Wine Belt and this hole confirms the data. I
am especially excited with the amount of Dysprosium we have
discovered in this drill hole as this element is in critical
shortage and will no doubt add significant value to the Dory Pond
Prospect. The latest price for Dysprosium is approximately $2500.00
per kilogram, and the 0.061 % in this new intersection converts to
0.61 kilograms. The Dory Pond area is only 35 km from the Orma Lake
all-weather road and given the promising ratios of HREE in this
drill hole we will aggressively speed this project forward".
The Dory Pond drilling is being done in conjunction with the
Company's resource delineation drilling program focused on the Two
Tom deposit, located 30 km east of Dory Pond. Field work, including
soil sampling, prospecting and geological mapping, carried out this
summer at Dory Pond, had resulted in the definition of a number of
high priority Heavy Rare Earth targets and it was decided to test
these prior to completing the Two Tom drilling. A total of six
holes were completed and the drill has been moved back to the Two
Tom project to complete infill and expansion drill testing as a
prerequisite to the calculation of a resource which is anticipated
to be completed in late 2011. Results are pending from the other
five holes completed at Dory Pond and will be released as they
become available. Additional results from the Two Tom drilling will
also be available over the next few weeks.
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 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
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) 438-3647
richard_albanese@standardandpoors.com Standard and Poor's Media
Relations Contact: Michael Privitera (212) 438-6679
michael_privitera@standardandpoors.com
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