Rare Earth Metals Inc Announces The Latest Results From The Clay-Howells Rare Earth Elements/Niobium
TSX-V symbol: RA
Thunder Bay, ON – Rare Earth Metals Inc (“Rare Earth Metals” or the “Company”) (TSX VENTURE:RA) is pleased to announce assay results from the 4 remaining drill holes on the Clay-Howells Prospect in northern Ontario. The Main Zone has been drill tested for a strike length of approximately 700 meters with numerous magnetite zones encountered in all drill holes such as previously announced drill hole CH-13 (P.R. April 20, 2010) which intersected 105.3 meters averaging 0.694% TREO, 0.14% Nb2O5 and 57.83% Fe2O3 including 16.9 meters of 1.088% TREO, 0.14% Nb2O5 and 65.95% Fe2O3. The magnetite zones continue to exhibit good continuity with the Rare Earth Elements, Niobium and Iron values received to date. All holes completed to date can be viewed in the Company’s web site.
The Company is undertaking preliminary metallurgical test work and composite samples from the 2010 drilling have been forwarded to Xstrata Process Support of Falconbridge Ontario for quantitative mineralization characterization along with magnetic separation testing to help determine the liberation and association profile of these minerals. Results will be available in approximately five weeks.
The four drill holes gave the following results:
| Hole | FROM | TO | Length(m) | TREO (%) | Nb2O5(%) | Fe2O3(t) (%) | ||
| CH-07 | 222 | 232.8 | 10.8 | 1.15% | 0.19% | 31.10% | ||
| CH-10 | 190.3 | 277 | 86.2 | 0.53% | 0.10% | 40.65% | ||
| CH-10 | inc | 191.8 | 199 | 7.5 | 0.88% | 0.25% | 45.25% | |
| CH-10 | and | 239.5 | 247 | 7.5 | 1.01% | 0.10% | 66.48% | |
| CH-15 | 156.9 | 180.2 | 23.3 | 0.61% | 0.30% | 49.45% | ||
| CH-18 | 231.9 | 234.9 | 3 | 1.06% | 0.23% | 68.95% | ||
| CH-18 | 249.8 | 254.8 | 5 | 1.15% | 0.13% | 28.87% | ||
| CH-18 | inc | 254 | 254.8 | 0.8 | 4.44% | 0.31% | 59.03% | |
Note: All measurements are down-hole lengths and as best as can be discerned these should represent between 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.
Prospecting crews are now on the property following up on all other magnetic and radiometric anomalies on the 110 square kilometer complex. Michael Stares, President of Rare Earth Metals, remarks, “The Company is encouraged with the results to date as the Clay-Howells Complex continues to display great exploration potential. Rare Earth Metals continues to perceive the Clay-Howells Main Zone as an Iron deposit with Rare Earth Elements and Niobium bi-products. Approximately 4% of the property has been explored to date. We will continue to follow up on all targets in the complex.”
President Michael Stares is also pleased to announce the appointment of Reginald Felix as V P Exploration to be effective May 1, 2010. Mr. Felix is a geologist with more than thirty years of exploration experience, including 20 years with Noranda. He spent most of his professional career exploring for base metals, gold, uranium, and potash deposits spanning a number of geologic terrains from New Brunswick to British Columbia. Prior to joining the Rare Earth Metals team, Mr. Felix worked on Inter-Citic’s Dachang gold project in western China. Mr. Felix holds a BSc. in Geology from the University of New Brunswick.He is currently Exploration Manager for Rare Earth Metals.
Rare Earth Metals is also pleased to announce it has engaged Dr. David Lentz as a technical advisor on its Rare Earth properties. Dr. Lentz is a professional geoscientist registered with the Association of Professional Engineers and Geoscientists of New Brunswick and is a full professor on the Fredericton campus of UNB and holds the UNB Economic Geology Chair. Before coming to UNB, Dr. Lentz worked as a researcher with the Geological Survey of Canada and the New Brunswick Department of Natural Resources. For more than 20 years, he has been an active volunteer in the field of geology and has made many outstanding contributions to GAC’s Mineral Deposits Division. Dr. David Lentz received the GAC Harvey Gross Young Scientist Award in 1999, the Canadian Institute of Mining and Petroleum Distinguished Lecturer Award for 2007-08 and the CIM Boldy Award in 2009. David Lentz has also received a 2007 Geological Association of Canada (GAC) Distinguished Service Award. David is associate editor for several economic geology journals.
The Company also announces the issuance of 450,000 incentive stock options exercisable at $0.35 for five years to various directors, employees and consultants.
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