Rare Earth Metals Reports Initial Results From 2012 Drilling at Lavergne-Springer
March 05 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 initial geochemical results from recent drilling on the
Lavergne-Springer REE Mineralized Zone. Fifteen holes, totalling
approximately 3500 meters, were completed in January and February
and the main Lavergne West Zone has now been tested over a strike
length of 750 meters. The results from the first three holes
(DDH-SL-12-08 to DDH-SL-12-10) have been received and include a
best intersection of 2.04% TREO over 22 meters within a larger zone
of mineralization which assayed 1.40% TREO over 116.7 meters in DDH
SL-12-08. The HREO/TREO ratio from the 22 meter intersection is
4.2% and the 116.7 meter composite is 4.7%. The other two holes
intersected the zone at shallow depths and exhibited a higher grade
upper zone within a wider zone of mineralization. Significant
results from the recent drill holes are tabulated below:
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HREO
(i) Nd2O3%
Hole TREO TREO +Pr2O3
Drill Depth From To Interval (i) (i) Ce2O3 La2O3 Nd2O3 Pr2O3 TREO
Hole (m) (m) (m) (m) % (%) (%) (%) (%) (%) (%)
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SL-08 288 13 129.7 116.7 1.40 4.7 0.64 0.37 0.24 0.07 21.6
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Inc
19 119 100 1.49 4.7 0.68 0.39 0.25 0.07 21.3
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Inc
19 41 22 2.04 4.2 0.94 0.57 0.31 0.10 20.0
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and
62 89 27 1.70 4.5 0.78 0.48 0.25 0.08 19.5
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SL-09 255 60 148.5 88.5 1.05 6.9 0.45 0.21 0.22 0.06 26.5
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66 96 30 1.47 5.5 0.65 0.31 0.31 0.08 26.7
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SL-10 150 10 150 140 0.95 3.2 0.45 0.29 0.12 0.04 17.5
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inc
10 69 59 1.40 2.9 0.67 0.44 0.18 0.06 17.1
----------------------------------------------------------------------------
10 34 24 2.08 2.7 0.99 0.66 0.26 0.09 16.8
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Over 1700 core samples have been submitted for geochemical
analyses from the 2012 drilling and results will be released as
they become available. Initial results from the early winter
drilling program suggest the East and West Zones are connected and
are a part of a much larger mineralized system. A 43-101 resource
calculation based on the 6000 meters of drilling completed in
2011-2012 is expected to be available by mid-May, 2012. A location
map of the drill holes can be viewed on the Company's website at
www.rareearthmetals.ca.
Commented Michael Stares, President and CEO of Rare Earth
Metals, "We are very pleased with the initial results which
indicate the Lavergne West Zone has good continuity over
substantial widths and may contain a higher grade upper zone. This
project has a number of positives including location and
infrastructure, simple mineralogy and very low thorium levels. Once
we establish the zones size and grade parameters, we expect to
advance the project towards a preliminary economic assessment
because of these positives."
Background - The Lavergne-Springer property is located in
Springer Township, located immediately north of the Town of
Sturgeon Falls and 80 km east of Sudbury, Ontario. Seven holes were
completed in the summer of 2011 to initially test the
Lavergne-Springer Zones. Five of these early holes tested the
Lavergne West Zone over a strike length of 300 meters and produced
drill widths varying from 79 meters to 360 meters with higher grade
intersections up to 1.65% TREO over 90.2 meters within a larger
zone of 1.43% TREO over 157.5 meters in hole SL-11-03 (see previous
press release dated Sept 15, 2011). Of particular note is the
unusually low radioactivity associated with the host REE
mineralization in this zone. (Thorium ranges from 12 ppm to 320 ppm
averaging 57 ppm and Uranium is less than 30 ppm). Mineralogy
studies completed in 2011 indicate that the host REE bearing
mineral is synchysite, a calcium REE fluoro-carbonate mineral
(press releases dated July 6 and July 18, 2011). Of particular note
is that the synchysite shows an appreciable content of 18%
Neodymium. Results from beneficiation test work confirm synchysite
as a mono-mineral source of the REE mineralization, thus
eliminating complications with physical processing from other rare
earth minerals. Attempts to concentrate synchysite on a bench scale
were successful through the use of magnetic and gravity techniques
(press release dated Jan 17, 2012).
Core from the drill program was logged at Rare Earth Metals'
core shack on site and split in half using a hydraulic 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 Manitoulin Transport and shipped to Actlabs'
sample preparation facility in Ancaster, Ontario. Prepared samples
were analyzed by Actlabs' analytical facility in Ancaster, Ontario.
The digestion technique utilized 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.
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) www.RareEarthMetals.ca
Corporate Communications: Matt Witiluk, C.A. (807) 623-6840 (807)
623-9526 (FAX)matt@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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