Rare Earth Metals Reports Positive Metallurgical Test Results And Follow-Up Drill Program On Lavergn
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 give an update on its Lavergne-Springer Project and initiatives planned for the next few months.
A minimum 2500 meter drill program is underway at the Lavergne-Springer Project in Northern Ontario, located 70 km east of Sudbury. This drilling is a follow-up to the Company’s successful initial drilling campaign completed in 2011. The objective of the program is to continue to expand the size of the Lavergne REE Zones, to test for areas of higher grades, and to move the project forward to a 43-101 compliant resource. A total of seven holes were completed in the summer of 2011 to test the Lavergne–Springer REE Mineralized 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 in the most northerly hole (see previous press release dated Sept 15, 2011). Results from this new drilling will be released as they become available.
Ongoing mineralogy studies indicate that the mineral hosting the REEs at the Lavergne Zone is synchysite, a calcium REE fluro-carbonate mineral. The Company has contracted Dr. Anthony Mariano Sr. and Tony Mariano Jr. to conduct a bench metallurgical test on samples from the 2011 drilling to assess the potential to liberate the synchysite into a concentrate form. Initial results from this beneficiation work confirm synchysite as a mono-mineralic 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. The fine–grained nature of the synchysite mineralization indicates flotation as a potential technique for physical processing. A final report is expected by end of January, 2012. Additional metallurgical test-work will be completed in 2012 by a major processing laboratory focusing on a flotation process for concentrating the rare earth bearing synchysite, and a 43-101 compliant resource estimate for the Lavergne-Springer prospect is planned to be available by third quarter of 2012.
Michael Stares, President and CEO of Rare Earth Metals stated, “The preliminary beneficiation results are extremely positive, and we are very pleased with the work done by Tony Mariano Sr. and Jr. as their test results have given us the confidence we need to bring the Lavergne-Springer project ahead at a rapid pace. This will surely add to the already very positive things that this project has going for it.”
Reg Felix, 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 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
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