Rare Earth Metals Inc Announces Additional Results From Drilling On Its Clay-Howells Rare Earth Elem
Thunder Bay, ON – Rare Earth Metals Inc (“Rare Earth Metals” or the “Company”) (TSX VENTURE:RA) is pleased to announce additional assay results from its recently completed drill program on the Clay-Howells Prospect in northern Ontario. A total of 5432 metres were drilled in 18 holes and all the holes have now been logged and split core samples have been sent to Actlabs for analysis. Preliminary assay results have now been received for 8 of these holes and these results are interpreted as defining two separate Magnetite-REE Zones tentatively labeled B Zone and C Zone. Highlights of the results received to date include 76.6 metres grading 0.69 % TREO, including a 4.9 metre intersection grading 2.45% TREO from hole CH-09, and 35 meters grading 0.85% TREO, including a 6.5 metre intersection grading 2.06% TREO in hole CH-17. Results from the latest results are tabulated below. Results from the initial Hole CH-01 were included in a previous press release dated March 15, 2010.
The higher grade zones are up to 13.9 meters wide, and appear to have a strike extent of over 400 metres, with grades between 1.03% and 2.45% TREO. Drilling has extended the higher grade zones to a vertical depth of up to 210 meters and the system remains completely open. Assay results are pending for the remainder of the holes and for some in fill sampling on the reported holes. Additional results will be released as they are received.
Please visit www.rareearthmetals.ca to view a map of the drill hole locations.
Results to date indicate the Clay-Howells prospect contains between 6% and 20% Heavy Rare Earth Oxides(HREO) and the individual zones also contain appreciable Niobium (up to 0.47% Nb2O5) and Iron content averages between 23% and 71% Fe2O3. These results support the initial exploration model of higher grade REE and Niobium Zones within a wide lower grade massive to semi-massive Magnetite/REE/Niobium Deposit. The Clay-Howells Prospect is hosted in a circular Carbonatite Complex and is analogous with the Bayan Obo Mine in China. The Bayan Obo Mine is currently the world’s largest REE producer but also has appreciable Iron and Niobium production.
All sampled drill core was split, with half the core bagged and sent to a prep lab in Thunder Bay. The samples were analyzed at Activation Laboratories utilizing inductively coupled plasma mass spectrometer. The digestion technique was total digestion that employs a lithium metaborate/tetraborate fusion. Note: All measurements are down-hole lengths and as best as can be discerned these should represent 70% to 90% of the true widths. The Rare Earth Element assays are given as Total Rare Earth Oxides (TREO) and the Total Iron is given as Fe2O3.
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
“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.”
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rare Earth Metals Inc.
Michael Stares
President and CEO
Phone: (807) 623-6840
Fax: (807) 623-9526
www.RareEarthMetals.ca