Rare Earth Metals Reports High Grade Of 4.96% Treo Over 12 Meters From 2012 Drilling At Lavergne – S
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 final geochemical results from the 2012 drill program on the Lavergne-Springer REE property. This latest phase of drilling was directed at the Lavergne West Zone and has resulted in multiple intersections of the REE zone which will now be the focus of a 43-101 compliant resource calculation. Of particular note in the latest results is a high grade intersection from Hole SL-12-20 which assayed 4.96% TREO over 12 meters within a larger zone of mineralization which assayed 1.15% TREO over 105.5 meters. This is the highest grade zone intersected to date. The drill hole is located near the southern part of the Lavergne West REE trend and detailed drilling will be required to better define its dimensions.
The results from the last twelve holes (DDH-SL-12-11 to DDH-SL-12-22), along with the first three holes of the program (DDH-SL-12-08 to DDH-SL-12-10 which were previously released on March 5, 2012), are outlined in the attached table. The 3500 meters drill program was completed in January and February, 2012, and the Lavergne West Zone trend has now been tested over a strike length of 750 meters. A total of 22 holes have now been completed on the property during two drill programs in 2011 and 2012. The main REE zone occupies the northern 325 meters of the mineralized trend and widths in this 325 meter length vary from 20 meters at the north end to 360 meters in the centre. The recent intersection in Hole SL-12-20 is located in the southern part of the trend and may indicate a second zone. All measurements are down-hole lengths and as best as can be discerned should represent 70% to 90% of the true widths. The Lavergne-Springer mineralization is Light Rare Earth dominant with the HREO/TREO ratios from these latest results ranging from 1.4% to 5.5%.
The property is located in Springer Township, immediately north of the Town of Sturgeon Falls and 80 km east of Sudbury, Ontario. Seven holes were completed in 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).
Significant results from all the 2012 drill holes are tabulated below:
Note: No significant intersections in DDH-SL-13, 14, 16 and 21.
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.
“We are very encouraged with the recent drill results and look forward to bringing the project along to a resource estimate,” says Michael Stares, President and CEO of Rare Earth Metals. “More drilling will be needed to better define the higher grade intercepts like that in DDH-SL-12-20, however our understanding of the mineralization has increased tremendously in the last 10 months since we acquired the property. We continue to believe that the positive attributes afforded by the REE hosting mineralogy and property infrastructure will play key roles in advancing the Lavergne–Springer project.”
The Company is also pleased to report that it has completed the purchase of the Surface Rights to the eastern half of the Patent (64 hectares) for a total of $150,000 (see previous press release dated June 7, 2011).
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.:
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
Matt Witiluk, C.A.
Phone: (807) 623-6840
Fax: (807) 623-9526
Standard and Poor’s Customer Contact:
Standard and Poor’s Media Relations Contact: