Rare Earth Metals Inc. Outlines a Number of Heavy Rare Earth Targets on Its Dory Pond Area, Red Wine Property
November 08 2011 - 8:30AM
Marketwired
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company")
(TSX VENTURE:RA)(PINK SHEETS:RAREF)(OTCQX:RAREF) is pleased to
report that final results have been received from its summer
exploration program on the B3N/Dory Pond area of the Company's Red
Wine Property in Central Labrador. Final results have now been
received for the Dory Pond area drilling, prospecting and soil
geochemistry surveys. The bulk of the Red Wine work was carried out
on the Two Tom Deposit, located 30 km east of Dory Pond, where a
43-101 compliant resource is expected to be calculated by year end
once the final drill assays are received.
The Dory Pond drill program consisted of seven holes targeted on
various targets identified from the 2010 field program. Results
from these holes are detailed in the table below. The best results
included a previously reported intersection of 1.55% TREO
(HREO/TREO of 42.1%) over 21.0 meters from hole B3N-03 (See
previous press release dated Sept 6, 2011). The other holes were
targeted on various anomalous geochemical and prospecting results
and intersected anomalous REE results. A location map of all the
drill holes can be viewed on the Company's website at
www.rareearthmetals.ca.
----------------------------------------------------------------------------
Hole HREO(i)
Depth From To Interval TREO(i) TREO(i)
Drill Hole (m) (m) (m) (m) % (%)
----------------------------------------------------------------------------
B3N-02 210 No Significant Results
----------------------------------------------------------------------------
----------------------------------------------------------------------------
B3N-03 126 8.2 51.1 42.9 1.11 41
----------------------------------------------------------------------------
inc 30.1 51.1 21 1.55 42
----------------------------------------------------------------------------
----------------------------------------------------------------------------
B3N-04 138 28.5 33 4.5 0.94 33
----------------------------------------------------------------------------
----------------------------------------------------------------------------
B3N-05 294 73.5 84.5 11 0.84 23%
----------------------------------------------------------------------------
183.5 225.5 42 0.58 18%
----------------------------------------------------------------------------
inc 186.5 189.5 3 1.21 22%
----------------------------------------------------------------------------
249 255 6 1.18 10%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
B3N-06 201 21 154.25 133.25 0.41 31%
----------------------------------------------------------------------------
inc 50.8 55 4.2 1.19 20%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
B3N-07 198 31.3 56.5 25.2 0.77 31%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Additionally, results from the 2011 prospecting and soil
geochemistry surveys at Dory Pond have defined a number of
additional targets that will need testing. These new prospect
sample results include values up to 8.48% total rare earth oxides
(TREO) and 4.63% zirconium oxide (ZrO2). Values from the prospect
samples also contained very significant Heavy Rare Earth content
that varied from 4% to 54% TREO. Several new occurrences of rare
earth mineralization were discovered in the Dory Pond area, further
extending the previously reported mineralized zones and showings
(see previous press releases dated August 31, September 22,
November 22, and December 13, 2010). Significant results from these
196 prospect samples collected during the 2011 season, are
tabulated below:
----------------------------------------------------------------------------
Block/
Samples Anomaly %TREO %HREO %ZrO2 %Ce2O3 %La2O3 %Nd2O3 %Y2O3 %Dy2O3
----------------------------------------------------------------------------
17 B3N-1 0.48 - 11 to 0.005- 0.03 - 0.01 - 0.01 - 0.03 - 0.004 -
8.48 54 0.16 3.50 2.29 1.03 0.80 0. 113
----------------------------------------------------------------------------
----------------------------------------------------------------------------
33 B3N-2 0.46 - 4 to 51 0.01 - 0.03 - 0.01 - 0.01 - 0.002 - 0.0005
2.89 2.87 1.30 0.80 0.39 0.61 - 0.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
9 B3N-5 0.58 - 7 to 48 0.03 - 0.16 - 0.08 - 0.08 - 0.04 - 0.009 -
4.71 2.26 1.38 0.55 0.63 1.45 0.23
----------------------------------------------------------------------------
----------------------------------------------------------------------------
4 B3N-7 0.69 - 34 to 2.27 - 0.17 - 0.07 - 0.09 - 0.19 - 0.03 -
0.89 50 4.63 0.26 0.13 0.11 0.28 0.045
----------------------------------------------------------------------------
----------------------------------------------------------------------------
2 B3N-9 1.67 - 7 to 14 0.02 - 0.69 - 0.39 - 0.26 - 0.15 - 0.02 -
4.61 0.08 2.13 1.38 0.53 0.20 0.03
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Soil geochemistry was also completed over the Dory Pond REE-Zr
Mineralized Zone which is outlined by a mineralized boulder train
that has been traced for over 4000 meters. Results from a total of
1739 B-horizon samples have now been compiled and these outline
three separate high REE zones from 250 meters to 1600 meters
wide.
The Dory Pond area is shaping up as the best target for Heavy
Rare Earths in the Red Wine belt and this recent work has outlined
a number of new targets for additional drill testing including step
out drilling on the 21.0 meter intersection in hole B3N -3.
QA/QC protocol - Drill core, prospect and soil samples were
transported by helicopter daily to Rare Earth Metals Inc.'s camp.
At the Company's core shed, drill core samples were taken at
geologically significant intervals, typically over 1.5 meters. Core
recovery was approximately 95%. The designated sample intervals
were cut using a diamond saw or manual core splitter. One half of
the core was selected for geochemical analysis with the remaining
half being placed back into the core box. Care was taken to ensure
that neither half of the core represents a bias with respect to the
nature and mineral content of the sample. Standard reference,
duplicate and blank samples were inserted in soil and drill core
samples for quality control. The sample interval and methodology
are consistent with industry standards. Samples were delivered by
Company personnel to Activation Laboratories Ltd.'s (Actlabs)
sample preparation facility in Happy Valley - Goose Bay, Labrador.
Pulverized drill core and grab samples, and dried soil samples were
sent by Actlabs personnel from Goose Bay to its analytical facility
in Ancaster, Ontario for analysis. Drill core and prospect samples
were prepared for analysis using a lithium metaborate/tetraborate
fusion method. An analytical package including the analysis of
major oxides by ICP-OES and a suite of 43 trace elements by ICP-MS
was implemented. Niobium was determined by XRF. Soil samples were
analyzed by INAA and a suite of multi elements were determined
using the 1D+34enh package. Accuracy and precision of the results
is further tested by Activation Labs through the systematic
inclusion of reference samples, blanks and duplicate samples.
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), and the Zirconium assays are given as Zirconium
Oxide (ZrO2). 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 sample
analysis described above are in decreasing order: Cerium, Lanthanum
and Neodymium.
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) Rare Earth Metals Inc. Nick
Vermeulen Consultant (807) 623-6840 or Cell: (604) 741-4150 (807)
623-9526 (FAX)nick@rareearthmetals.cawww.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)
Historical Stock Chart
From Jul 2024 to Aug 2024
Canada Rare Earth (PK) (USOTC:RAREF)
Historical Stock Chart
From Aug 2023 to Aug 2024