http://www.finanznachrichten.de/...t-its-mount-bisson-project-256.htm
Rare Earth Industries Samples High Grade Rare Earths Including 10.86% TREO At Its Mount Bisson Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/22/11 -- Rare Earth Industries ("RND" or the "Company") (TSX VENTURE: RND)(FRANKFURT: 3CK1)(WKN: A1JHA3) is pleased to announce its first tranche of assay results from the Phase I exploration program on its Mount Bisson Rare Earth Element Project. Notable results include 3 samples which assayed over 10% TREO, and 11 samples which assayed from 5.43% to 10.86% TREO. Significant results of the bedrock sampling program are presented below that focused on the Central Zone where Paget Minerals previously documented a total REE value of 8.64% (equivalent to 10.14% TREO). Please see Paget news release of August 25, 2010 for more details. These total REE values are amongst the highest ever reported in British Columbia.
Phase I results have achieved the following:
-- Delineation of a 100- by 500- metre zone of high grade REE
mineralization in allanite-rich veins, which range from 1.51% to 10.86%
total REO (Central Zone), that remains open along strike;
-- Verification of 2010 Paget Minerals high grade total REO value by
replicate sampling by the QP (10.14% vs 9.98%).
TREO+ HREO+
Sample Y2O3 LREO Y2O3 Y2O3
Sample # Type (wt.%) (wt.%) wt.%) (wt.%)
--------------------------------------------------
L651820 grab 7.73 7.77 0.11 0.04
L651822 grab 10.31 10.23 0.08 0.03
L651823 grab 10.08 9.99 0.09 0.03
L651824 grab 1.52 1.49 0.03 0.01
L651825 grab 3.48 3.44 0.05 0.02
L651908 grab 1.48 1.45 0.03 0.01
L651910 grab 8.21 8.15 0.06 0.02
L651911 grab 10.86 10.71 0.16 0.05
L651912 grab 8.48 8.35 0.13 0.04
L651913 grab 7.10 6.92 0.08 0.03
I637251(i) grab 9.98 9.93 0.08 0.03
chips
over
I651253(i) 50 cm 5.43 5.35 0.08 0.03
chips
over
I651254(i) 75 cm 7.26 7.16 0.10 0.03
I651255(i) grab 6.90 6.90 0.14 0.05
--------------------------------------------------
(i) samples I637251 to I637255 collected by the QP on a June 28 visitation
to the Central Zone
The Mount Bisson Project, located 50 kilometres northwest of Mackenzie, BC, lies within the Rocky Mountain Rare Metal belt and is readily accessible by forestry service and logging roads. Specifically, the various rare earth element occurrences on the property comprise part of the 3 by 9 km Wolverine pegmatite field. The Central zone comprises multiple, allanite-rich veins, 15 to 75 cm in width, exposed over a minimum strike length of 500 metres and hosted in the Wolverine gneisses of the Omineca belt. This mineralization remains open in all directions.
The vein mineralogy consists of 40 to 50% (modal) allanite, which is the main REE-bearing mineral, associated with diopside, titanite, apatite, epidote, magnetite, garnet, quartz and sparse scheelite and chevkinite (REE-Nb-Th-Ti-Ca-Fe silicate mineral). Mineral analyses of allanite at the nearby Laura Occurrence, revealed a range of La2O3+Ce2O3+Pr2O3+Nd2O3) values from 17.2% to 24.8% (Mount Bisson 43-101 geological report, p.50).
Based upon favourable results in the discovery of 7 new rare earth element-rich veins, Phase II exploration will be initiated in September in order to obtain more detailed information on the full extent of the mineralization and its structural controls. Phase II will consist of additional rock chip and bulk rock channel sampling to collect larger sample volumes. It will focus on expanding the occurrence zones and gathering of additional data to design an initial stage drilling program. Phase II is expected to take approximately three weeks to complete, with further results expected in October of this year.
NI 43-101 Disclosure
The technical information contained in this press release has been reviewed by Mr. Frederick W. Breaks, Ph.D, P.Geo., who is a qualified person for the purpose of National Instrument 43-101 and a consulting geologist to the Company. He visited the site on June 28 and 29, 2011 and is responsible for the content of this news release. The NI 43-101 technical report for Rare Earth Industries "Geological report on the Mount Bisson rare earth element claim-group" by Frederick W. Breaks, is dated Nov. 28, 2010.
It is cautioned that grab samples are by nature selective and therefore may or may not represent average values.
TREO = total rare-earth oxides (La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3 and Lu2O3)
LREO = total light rare-earth oxides (La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, and Eu2O3)
HREO = total heavy rare earth oxides (Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3 and Lu2O3)
LREO and HREO defined by Castor, B. and Hedrick, J.B. 2006. Rare Earth Elements, p.769-792 in Industrial Minerals and Rocks. Society for Mining, Metallurgy and Exploration.
QA/QC
All samples from the project were analyzed by ALS Chemex Laboratories at Vancouver, BC that utilized the ME-MS-81D analytical package that contains all of the rare earth elements, yttrium and numerous trace elements in addition to the major elements. This method involves a four acid fusion and analysis via ICP-MS.
Eight samples, which exceeded the upper detection limit of the ICP-MS determination for La (greater than 10,000 ppm), Ce (greater than 10,000 ppm) and Pr (greater than 1000 ppm), were reanalyzed by ICP-AES (Inductively Coupled Plasma Atomic Emission Spectrophotometry) at the same laboratory.
ABOUT RARE EARTH INDUSTRIES:
Rare Earth Industries Ltd ("RND") is a mineral exploration company with the objective of building an industrial enterprise focused on the high-value processing and separations of rare earth elements and rare metals. The Company was formed by executives from the fields of specialized rare earths geology, mine development, chemical processing, and marketing and distribution of finished rare earths products. RND is focused on developing an environmentally sustainable supply chain for rare earths and rare metals sourced entirely outside of China. Rare earth elements are used in magnets for electric vehicles, display screens for electronics, rechargeable batteries and other high-demand products. RND is publicly traded on the TSX Venture Exchange under the symbol RND. For more information, visit www.rareearthindustries.com.
Stock Exchange Information:
TSX Venture Exchange Symbol: RND
Frankfurt - 3CK1 (WKN: A1JHA3)
Safe Harbor Statement
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 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. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Contacts:
Media Contacts:
Rare Earth Industries Ltd.
Rob Smith, Chief Executive Officer
(604) 558-0022
(604) 608-3282 (FAX)
rsmith@rareearthindustries.com
Rare Earth Industries Ltd.
Dan Sutton
Investor Relations
(604) 558-0022 or Cell: (604) 218-8371
(604) 608-3282 (FAX)
info@rareearthindustries.com
www.rareearthindustries.com
|
|
2
Thread abonnieren
