Ms. Anne Hite reports
RARE ELEMENT REPORTS 2011 GOLD DRILLING ASSAY RESULTS, INCLUDING THE BEST RESULTS EVER
Rare Element Resources Ltd. has released assay results from 34 rotary (reverse circulation) and two core holes drilled at the Sundance gold project, Wyoming (drill holes SUN-093 to SUN-128). A total of 36 drill holes containing 22,930 feet (6,989 metres) were drilled during 2011, including 20 holes on near-surface targets within oxide zone mineralization at the Taylor and Smith target areas and 15 holes (7,925 feet/2,416 metres) of condemnation drilling in a proposed tailings disposal site in Section 16. Additionally, six core holes (1,945 feet/593 m) were drilled in the Taylor area to define a zone of coincident heavy-rare-earth-element and gold mineralization. Gold exploration activity during 2011 was focused on: 1) step-off drilling from known mineralization, 2) new target area testing and 3) condemnation of an area proposed for tailings disposal. This press release covers the results of all the gold exploration drilling in 2011 while previous drilling results were reported in press releases Oct. 27, 2011, and Dec. 5, 2011.
John T. Ray, exploration manager for the company, stated: "SUN-116, located at the Smith target area, has the highest gold grades and thickest interval of more than one gram per tonne gold ever reported for the entire district and is open in two directions. We are excited about the discovery of this new prospect and anticipate determining the size and orientation of its high-grade nucleus. Most of the holes in the East Taylor area have significant near-surface intercepts of more than one gram per tonne gold. Our goal of the 2011 drilling to find areas of higher-grade gold mineralization was achieved. Over the next few years, additional drilling will be needed to determine the extent of this mineralization."
Smith gold target
In 2010, drill hole SUN-060 intersected 0.89 gram per tonne gold over 85.5 metres, including 1.3 g/t over 44.2 m along the strike of the main pseudoleucite body in veined phonolite wall rock. SUN-116 is a follow-up hole situated 100 metres west of SUN-060 and oriented to intersect a mineralized trend believed to be perpendicular to the main zone. Assays from SUN-116 returned 1.21 g/t Au over 176.8 m, including 4.5 g/t Au over 24.4 m, and penetrated similar host rock of K-feldspar veined phonolite. This represents, by far, the highest grade and thickest gold drill intercept in the 50-year exploration history of the entire Bear Lodge alkaline complex. Drill hole SUN-117, collared west of SUN-116, contains an intercept of 1.35 g/t Au, and SUN-118 has 1.24 g/t Au each over widths of 12.2 m. Farther to the west, SUN-119 has significant intercepts exceeding 0.5 g/t Au. These data are beginning to define a new target area of noteworthy grade adjacent and perpendicular to the main Smith deposit. The occurrence of open-space K-feldspar veining and the higher-grade intervals (up to 11.4 g/t Au) within this new zone is suggestive of a feeder structure. One-half kilometre east of the main Smith deposit, drill holes SUN-123 and SUN-125 are follow-up tests of 2010 drill hole SUN-069, which contains an intercept of 0.49 g/t Au over 27.4 m, coincident with a northeast-trending valley structure. Similar grades over narrower intervals in SUN-123 and SUN-125 suggest potential for a new area of low-grade gold mineralization. Assays from core hole SUN-120C are pending. Eight rotary holes containing 5,410 feet (1,649 m) were drilled to test areas adjacent to and outboard of the Smith gold resource area (SUN-115 through SUN-119, SUN-122, SUN-123 and SUN-125). Gold mineralization at Smith is hosted by a steeply dipping, brecciated pseudoleucite dike that strikes northwesterly. The mineralization extends from the surface to a depth of 1,000 feet (300 m) and remains open at depth.
SELECTED SIGNIFICANT GOLD INTERCEPTS FROM THE 2011 DRILLING PROGRAM
AT THE SMITH TARGET AREA, SUNDANCE PROJECT, WYOMING
(greater than 20 feet and greater than 0.40 g/t Au)
GT=
gram
From Length Grade thickness
Hole No. TD (ft) (ft) To (ft) (ft) Length (m) (ppm) (m)
SUN-115 520 300 320 20 6.1 0.43 2.6
SUN-116 815 165 225 60 18.3 0.49 9.0
235 815 580 176.8 1.21 213.4
SUN-117 620 125 165 40 12.2 1.35 16.4
SUN-118 545 115 135 20 6.1 0.44 2.7
245 275 30 9.1 0.41 3.8
325 365 40 12.2 1.24 15.2
490 520 30 9.1 0.41 3.7
SUN-119 660
205 225 20 6.1 0.52 3.2
550 590 40 12.2 0.45 5.5
615 645 30 9.1 0.61 5.6
SUN-120C 847 Assays pending
SUN-122 975 650 670 20 6.1 0.42 2.6
745 770 25 7.6 0.43 3.3
810 850 40 12.2 0.44 5.4
940 960 20 6.1 0.64 3.9
SUN-123 600 460 480 20 6.1 0.51 3.1
520 550 30 9.1 0.46 4.2
SUN-125 675 605 655 50 15.2 0.45 6.9
Taylor gold target
Representative grades within the mineralized plume at Taylor range from 0.42 to 0.67 g/t Au over thicknesses of 56 to 192 m. In 2010, SUN-090 penetrated a higher-grade portion of the plume that assayed 1.34 g/t Au over 62.5 m with coincident heavy-rare-earth-element-enriched mineralization. Eleven rotary holes (7,550 feet/2,301 m) were drilled at Taylor in 2011 to define a potential minable resource (SUN-104 through SUN-114). The gold mineralization at Taylor is contained within a plume-like mass hosted by Tertiary alkaline intrusions and Cambro-Ordovician sandstones of the Deadwood formation. The mineralization generally extends from the surface to a depth of about 400 feet (125 metres). In 2011, core drilling was conducted in the vicinity of rotary hole SUN-090 to determine controls on the HREE enrichment and coincident gold mineralization. Results included 1.93 g/t Au over 39.5 m, 1.38 g/t Au over 24.7 m and 2.01 g/t Au over 49.2 m, respectively. In the same cluster and 30 m to the east, RES11-31 assayed 0.77 g/t Au over 71.3 m from surface to a depth of 234 feet, RES11-32 contains 0.55 g/t Au over 70.7 m from surface to a depth of 232 feet, and RES11-33 has 0.49 g/t Au over 49.7 m from the surface to a depth of 163 feet. These results indicate an approximate width of 120 m for this easterly trending zone of gold mineralization and HREE enrichment. Gold assay results are pending for RES11-28.
Rotary drill results from the Taylor area are also shown. Drill holes SUN-109 and SUN-110 identify the continuation of anomalous gold mineralization to the northwest on the west side of Taylor Ridge, whereas drill holes SUN-104, SUN-105, SUN-108 and SUN-111 effectively cut off gold mineralization on the east side of Taylor Ridge. The gold intercepts in SUN-113, including 0.93 g/t Au over 7.6 m, are associated with a cylindrical resistivity anomaly and show potential for the development of another satellite deposit on the west side of the ridge. Drill hole SUN-114 failed to reach its target depth to test historical gold intercepts, owing to poor ground conditions.
SELECTED SIGNIFICANT GOLD INTERCEPTS FROM THE 2011 DRILLING PROGRAM
AT THE TAYLOR TARGET AREA, SUNDANCE PROJECT, WYOMING
(significant intercepts (greater than 20 feet and greater than 0.40 g/t Au)
GT=gram
Length Grade thickness
Hole No. TD (ft) From (ft) To (ft) (ft) Length (m) (ppm) (m)
RES11-
26 139 9.5 139 130 39.5 1.93 76.3
RES11-
26A 81 0 81 81 24.7 1.38 34.1
RES11-
27 580 6 168 162 49.2 2.01 98.9
238 268 30 9.1 0.58 5.3
549 580 31 9.4 0.69 6.5
RES11-
31 260 0 234 234 71.3 0.77 55.2
RES11-
32 385 0 232 232 70.7 0.55 38.8
RES11-
33 500 0 163 163 49.7 0.49 24.5
SUN-104 785 155 175 20 6.1 0.53 3.2
SUN-106 680 20 50 30 9.1 0.42 3.9
210 250 40 12.2 0.44 5.4
590 610 20 6.1 0.42 2.6
SUN-107 530 0 20 20 6.1 0.53 3.2
SUN-109 750 0 20 20 6.1 0.42 2.6
40 125 85 25.9 0.57 14.8
540 585 45 13.7 0.50 6.8
700 720 20 6.1 0.75 4.6
SUN-110 750 420 450 30 9.1 0.50 4.5
595 615 20 6.1 0.41 2.5
SUN-112 630 290 310 20 6.1 0.55 3.3
SUN-113 600 275 300 25 7.6 0.93 7.0
430 455 25 7.6 0.48 3.6
SUN-114 660 135 160 25 7.6 0.56 4.3
185 215 30 9.1 0.45 4.1
Section 16 area
Section 16 is an area east of Bull Hill that is under consideration for a stockpile and waste facility for the proposed rare-earth-element mine. During 2011, 15 rotary holes aggregating 7,533 feet/2,296 m were drilled to assess the REE and gold mineralization potential. Limited drilling of four holes on the west side of Section 16 suggests minimal exploration potential manifested in drill hole SUN-093 by an isolated, narrow gold zone assaying 0.46 g/t Au over 7.6 m and thin and sparse iron-manganese-rare-earth dikes. Most of the remaining holes were drilled in the central portion of the section. Although no significant REE mineralization was encountered, anomalous gold mineralization is identified in four holes. Drill holes SUN-098, SUN-101, SUN-126 and SUN-128 contribute to the definition of an anomalous zone that is subject to additional evaluation in 2012.
SELECTED SIGNIFICANT GOLD INTERCEPTS FROM THE 2011 DRILLING PROGRAM
AT THE SECTION 16 AREA, SUNDANCE PROJECT, WYOMING
(significant intercepts (greater than 20 feet and greater than 0.40 g/t Au)
GT=gram
To Length thickness
Hole No. TD (ft) From (ft) (ft) (ft) Length (m) Grade (ppm) (m)
SUN-093 500 75 100 25 7.6 0.46 3.5
SUN-098 620 425 460 35 10.7 0.75 8.0
SUN-099 635 585 615 30 9.1 0.73 6.7
SUN-101 385 305 325 20 6.1 0.40 2.5
360 385 25 7.6 0.50 3.8
SUN-103 505 465 505 40 12.2 0.41 5.0
SUN-126 600 265 410 145 44.2 0.58 25.7
490 510 20 6.1 0.41 2.5
SUN-128 590 105 130 25 7.6 0.44 3.3
240 265 25 7.6 0.46 3.5
355 375 20 6.1 0.47 2.9
480 535 55 16.8 0.43 7.2
Donald E. Ranta, PhD, PGeo, serves the board of directors of the company as an internal, technically qualified person. Technical information in this news release has been reviewed by Dr. Ranta and has been prepared in accordance with Canadian regulatory requirements that are set out in National Instrument 43-101. This news release was prepared by company management, which takes full responsibility for the content.
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