Drilling Results from Cinovec

RNS Number : 0430J

Rare Earth Minerals PLC

06 September 2016

 

Rare Earth Minerals Plc

("Rare Earth Minerals", "REM" or "the Company")

Drilling Results from the Cinovec Lithium - Tin Project

Rare Earth Mineral Plc (AIM: REM; OTC: REMMY) is pleased to report that European Metals Holdings Limited ("EMH"), in which REM owns a 16.4% shareholding, has announced the analystical results  for the confirmation drillhole CIW-11 at the Cinovec Lithium-Tin-Tungsten Project ("the project" or "Cinovec"). The full EMH announcement can be found at: http://europeanmet.com/assets/6_Sept_2016_Drill_Programme_Update_FINAL.pdf

Highlights:

§  Drillhole CIW-11 returned two main mineralized intercepts of 89.95m averaging 0.61% Li2O and 109.4m averaging 0.38% Li2O.

§  The first intercept includes a high-grade interval of 63.85m @0.76% Li2O, which hosts an internal very high grade interval of 12m @1.04 %Li2O. In addition, two sections of this lithium interval contain significant tin and tungsten mineralization: 2.85m averaging 0.27% tin and 0.053% tungsten; and 6m averaging 0.18% tin and 0.009% tungsten. This yields the best Li intercept recorded by the Company to date.

§  Drilling continues in the main section of the deposit, targeting near-surface mineralization on the flanks of the historic underground mine. Altogether, five drillholes (1,644m) have been completed this year, with three underway.

Kiran Morzaria, Chief Executive of REM, commented:

"These results from the Cinovec Lithium-Tin deposit are hugely positive and we look forward to seeing further results from the ongoing drilling campaign."

Qualified Person:

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance).

- Ends -

For further information, please contact: 

Rare Earth Minerals plc

Andrew Suckling                                                                                                                                       [phone]

Kiran Morzaria                                                                                                                                      [phone]

WH Ireland Limited (NOMAD & Broker)                                                                                   [phone]

James Joyce

James Bavister

Square1 Consulting                                                                                                                             [phone]

David Bick

Brain Alexander

 

END

 

 

DRLUGURCBUPQUQQ