First Rare Earth Samples from Canada

RNS Number : 3204M

Rare Earth Minerals PLC

15 August 2011

 



15 August 2011

Rare Earth minerals plc

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

First Rare Earth Samples from Canada

Rare Earth Minerals PLC (AIM: REM) is pleased to announce that it has received results from the initial exploration program on the Cup Lake Rare Earth Project located in Saskatchewan, Canada, with the most significant sample assaying 8.78% of total rare earth oxides.

Work conducted during July 2011 was successful in locating two areas of rare earth mineralisation on the claims at Cup Lake and at Schmitz Lake.

The Cup Lake occurrence consists of a varied succession of Aphebian metasediments and intercalated metavolcanics.  A grab sample from an old trench at this site analysed 7.5 weight% total rare earth elements ("TREE"), equivalent to 8.78% total rare earth oxides ("TREO"), i.e. lanthanum 1.94%; cerium 3.56%; praseodymium 0.393%; neodymium 1.28%; samarium 0.173%; europium 0.005%; gadolinium 0.091%; terbium 0.009%; dysprosium 0.03% and erbium 0.017%.

At Schmitz Lake two rock samples returned anomalous concentrations of rare earth elements, with values of 0.209 and 0.175 weight % TREE's, equivalent to 0.243% and 0.21% TREO's.  The samples at Schmitz Lake were from pegmatitic dykes in felsic gneisses.  The proportion of heavy rare earth elements to light rare earth elements varies between 1% and 3% for the Cup Lake and Schmitz Lake samples.  A total of 30 samples of between 1-2kg each were taken and these were processed by Saskatchewan Research Council ("SRC") Laboratory in Saskatoon, Saskatchewan.

The association in some of the samples with elevated phosphorous and uranium concentrations as well as the proportions of light rare earths in comparison to heavy rare earths indicates that the mineralisation at Cup Lake is very similar to that found at the Hoidas Lake rare earth deposit in northern Saskatchewan.

The results are very encouraging and warrant further follow-up work in order to determine the continuity, extent and average grade of the REE mineralisation.  A program of further exploration work will now be planned in order to more fully evaluate the potential of the Cup Lake rare earth occurrences.

Rare Earth Minerals has beneficial ownership of 51% of the Cup Lake rare Earth Project and has the right to earn up to an 80% interest.

David Lenigas, Rare Earth Minerals Director and CEO states:

"These results are extremely encouraging, especially as global demand and prices for rare earth minerals are increasing.  The Company is very pleased with the results to date and is optimistic that continued exploration at Cup Lake will yield further positive results in this area, which is under explored for rare earth minerals."

Qualified Person's Statement:

Information in this announcement relates to information compiled by Carl G Verley, P.Geo who is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is a Qualified or Person with respect to the information disclosed herein.

For further information please contact:     

Rare Earth Minerals Plc

David Lenigas, Director

[phone]

WH Ireland

James Joyce

[phone]

 

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