Rare Earth Metals Reports 1.50% Treo Over 94.2 Meters From Lavergne- Springer Project, Near Sudbury,
Thunder Bay, ON – Rare Earth Metals Inc. (“Rare Earth Metals”, “RA” or the “Company”) (TSX-V: RA; OTCQX: RAREF, PINK SHEETS: RAREF) is pleased to report Rare Earth Element results from the first drill hole on the West Lavergne REE Mineralized Zone at the Lavergne-Springer property. The property is located 8 km north of the Trans-Canada Highway, in Springer Township, immediately north of the Town of Sturgeon Falls and 80 km east of Sudbury, Ontario. The results from DDH-SL-01 include a best intersection of 1.50% TREO over 94.2 meters within a larger zone of mineralization which assayed 0.94% TREO over 359.8 meters. The HREO/TREO ratio from the 94.2 meter intersection is 6.1% and the 367.4 meter composite is 6.7%.
DDH SL-11-01 is the first hole of the 2011 drill program, which was initiated to test the Lavergne REE Mineralized Zones. It is anticipated that a minimum of eight holes will be completed and the results will be released as they become available. As reported in a previous press release dated June 28, 2011, DDH SL-01 was drilled near the site of a previous drill hole DDH-L-69-1 completed by Geophysical Engineering and Surveys Ltd. of North Bay, Ontario in 1969. A location map of the drill holes can be viewed on the Company’s website at www.rareearthmetals.ca. Significant results from the latest drill hole are tabulated below:
The results from this initial hole indicate that the Lavergne REE Mineralized Zone is LREE enriched with cerium, lanthanum and neodymium being most abundant. One of the five rare earth elements identified by the U.S. Department of Energy in a December 20, 2010 “Critical Materials Strategy” document as most critical to the U.S. economy over the next 15 years is the light rare earth neodymium (the other four are heavy rare earths – dysprosium, terbium, yttrium and europium).
The Company is also pleased to report that it has contracted Dr. Anthony Mariano to conduct a bench metallurgical test on samples from SL-01 to assess the potential of the ease or otherwise with which the rare earths can be liberated from the host minerals. Dr. Mariano is a geological consultant specializing in rare earths and other rare metals, a seasoned mineralogist and petrographer, and is a recognized authority on REE mineralogy and deposits at a world level.
Said Dr. Mariano: “At 15% to 18% neodymium oxide to total rare earth oxide composition, the SL-01 mineralized intervals have a high proportion of neodymium. In recent mineralogy studies performed on rocks and drill core, it appears that the major REE-bearing mineral, synchysite [Ca(Ce,Nd)CO3F], occurring in clustered aggregates, should be amenable to physical processing. Other positive features to the Springer–Lavergne carbonatite is its logistically favorable location and the unusually low radioactivity associated with the host REE mineralization. Thorium ranges from 138 to 240 ppm and Uranium is
Commented Michael Stares, President of Rare Earth Metals, “It appears we are on our way in outlining a rare earth enriched mineralized zone on the Springer–Lavergne prospect. Mineralogy studies to date, as previously reported in press releases dated July 6 and 18, 2011, show simple mineralogy with the identification of synchysite as the predominate REE bearing mineral. Synchysite hosts the REEs cerium, lanthanum, neodymium and yttrium and contains only low volumes of uranium and thorium. This is important as this mineral has similar characteristics to bastnaesite, another member of the REE carbonate family which is found at the Mountain Pass REE deposit, the only producing rare earth mine in North America. To find a rare earth deposit is very difficult, but to find a rare earth deposit with a simple mineralogy that reduces complications during the extraction process is rare indeed. We are also looking forward to the results of the bench metallurgical test work that Dr. Mariano will be conducting to assess the potential for cost effective metallurgy.”
Mr. Stares further commented, “The distribution of the rare earths within the TREO mix in drill hole SL-01 is significant, and it will be interesting to see how it holds up in the other holes testing the zone. The abundance of neodymium is good news for RA as the metal is a vital component in Neodymium Iron Boron permanent magnets. These are the most powerful permanent magnets known and have many uses in consumer electronics, from cellular phones, iPods, and hard disk drives, through to hybrid cars, aircraft and wind turbines.”
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 Thunder Bay, Ontario. Prepared samples were forwarded to Actlabs’ analytical facility in Ancaster, Ontario for analysis. 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. The most abundant REEs from the drill-hole composites described above are in decreasing order: Cerium, Lanthanum and Neodymium. A breakdown of the most abundant REE’s from the drill holes can be found on the Company’s website at www.RareEarthMetals.ca.
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.:
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.
President and CEO
Phone: (807) 623-6840
Fax: (807) 623-9526
Phone: (807) 623-6840
Cell: (604) 741-4150
Fax: (807) 623-9526
Standard and Poor’s Customer Contact:
Standard and Poor’s Media Relations Contact:
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.