Rare Earth Metals Reports HREO and Niobium Values From Initial Sampling of the Coldwell Property
February 28 2012 - 8:30AM
Marketwired
Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company")
(TSX VENTURE:RA)(OTCQX:RAREF)(PINKSHEETS:RAREF) is pleased to
report geochemical results from the first round of sampling on its
Coldwell Property located north of Lake Superior in north-western
Ontario. A total of 66 prospect samples were taken on the property
returning analytical values ranging from 0.03% up to 3.97% TREO
with HREO/TREO ratios ranging from 9% to 54%. A breakdown of the
individual Rare Earth Oxides include Ce2O5 from 0.01% to 1.63%,
La2O5 from 0.006% to 0.97%, Nd2O3 from 0.003% to 0.45%, Y2O5 from
0.003 to 0.43% and Dy2O5 from 0.001% to 0.066%. Niobium values were
also very prospective with values ranging from 0.02% Nb2O5 to 1.29%
Nb2O5. The sampling program was focused on airborne radiometric
anomalies outlined from a recently completed 1522 line kilometer
airborne magnetic and radiometric survey (see previous press
release dated June 7, 2011). These new discoveries can be grouped
into two main clusters associated with radiometric highs. The
southeast anomalous cluster is defined by four separate samples
assaying between 0.84% and 3.97% TREO with HREO/TREO ratios between
17.4% and 32.8%. The second cluster, located 6 kilometers to the
northwest, is Niobium rich with a total of 18 separate samples
taken over a 1 kilometer length assaying between 0.2% and 0.8%
Nb2O3.
This first pass prospecting program confirms that the Coldwell
Property hosts Niobium and rare earth element (REE) mineralization
with a significant Heavy REE component and the zones tend to be
associated with radiometric anomalies which in some cases are
several kilometers in size. Follow up prospecting, trenching and
sampling to further evaluate these occurrences is scheduled for
after break-up. A map of the sample locations and results can be
found on the Company's website at www.RareEarthMetals.ca.
The Coldwell Property consists of 707 unpatented claim units
encompassing 128 square kilometers. The property was staked in
2010-2011 and is 100% owned by Rare Earth Metals Inc. It is located
275 kilometers east of Thunder Bay and is accessible by road and
railway. The Coldwell Property is underlain by the Coldwell
Alkaline Complex which is the largest alkaline intrusion in North
America encompassing 580 square kilometers. Previous exploration in
the Coldwell was focused on the PGM-Copper-Nickel potential and
includes Stillwater's Marathon PGM project located on the eastern
rim of the Complex. The RA property mainly covers the central and
western sections of the Complex.
Commented Michael Stares, President and CEO of Rare Earth
Metals, "We are very pleased with these initial results which
suggest that the central Coldwell Complex has potential for
significant Rare Earth Element and Niobium mineralization. We will
be seeking a partner to help finance follow-up exploration work
which will concentrate on the Heavy REE and Niobium components of
the new occurrences."
The surface grab samples described in this news release are
selective by nature and are unlikely to represent average grades on
the property. The samples were delivered by Company personnel to
Activation Laboratories Ltd.'s sample preparation facility in
Thunder Bay, Ontario. Once processed, representative pulps were
sent to Activation Laboratories Ltd.'s analytical facility in
Ancaster, Ontario for analysis. The digestion technique was total
digestion that employs a lithium metaborate/tetraborate fusion and
the analysis is completed using ICP/MS and XRF techniques. 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.
Reg Felix, 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 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
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