Mr. Dave Suleski reports
RARE ELEMENT DRILLING RESULTS EXPAND DISTRICT-WIDE ENRICHMENT ZONES OF CRITICAL RARE EARTH ELEMENTS INCLUDING EU, TB, DY, AND Y
Rare Element Resources Ltd. has released rare-earth-element (REE) assay results from 21 drill holes completed during the continuing 2012 drilling program at the company's 100-per-cent-owned Bear Lodge property, located in northeastern Wyoming, United States. The current drilling continues to demonstrate that the Bear Lodge resource is one of the highest-grade total-rare-earth-oxide (TREO) deposits in the world and now also highlights the significant value of the content of combined critical rare-earth oxides (CREOs).
Highlights
- Drill results reveal enrichment of critical rare earths as a districtwide zonation of europium, terbium, dysprosium and yttrium surrounding high-grade neodymium-praseodymium-lanthanum-cesium central core.
- Drill intercepts document significant thicknesses and elevated
concentrations of Eu, Tb, Dy and Y enrichment encountered at Whitetail
Ridge resource area, and Carbon and Taylor target areas.
- The high abundances of critical rare-earth oxides (CREOs include Nd, Pr,
Eu, Tb, Dy and Y) demonstrate that the Bear Lodge rare-earth district
represents a growing world-class occurrence of those rare-earth elements
(REEs) that represent the strongest projected future growth in demand
and price. The assay grades for Eu, Tb, Dy and Y are among the highest
of the North American REE deposits. Europium grades (currently the
highest-priced REE) are among the highest in the world.
- Drilling has been extended into December. Complete assay results from
the 2012 program are expected in January, followed shortly by an updated
National Instrument 43-101 resource estimate. Metallurgical testing is currently under way
at a number of laboratories, and additional testing and pilot plant work
are planned in conjunction with the start of a definitive feasibility
study in 2013.
Dr. Jim Clark, vice-president of exploration for Rare Element Resources, stated: "The additional results from our 2012 drilling confirm and expand the quality and continuity of the Bull Hill REE deposit, where the company expects to significantly increase the measured and indicated resources in preparation for its upcoming definitive feasibility study. At the same time, work continues on the development of an indicated resource at Whitetail Ridge, which is slated for inclusion in the definitive feasibility study. The zones of heavy-rare-earth-element (Eu, Tb, Dy and Y) enrichment continue to expand at Whitetail Ridge, Carbon and Taylor. The most recent drill results include some of the thickest intercepts and elevated concentrations yet encountered at Whitetail Ridge, Carbon and Taylor."
Expanding critical rare-earth elements
Critical rare-earth elements are those for which the strongest future growth is projected and higher values are attributed. The company refers here to the oxides of Nd, Pr, Eu, Tb, Dy and Y as critical rare-earth oxides (CREO). In 2011, the company identified significant heavy rare-earth elements (HREE) (Eu, Tb, Dy and Y) in leached FMR (F (iron oxide), M (manganese oxide), R (REE minerals)) and oxide-carbonate dikes at the Whitetail Ridge resource area, and at the East Taylor and Carbon target areas (see news releases dated Aug. 4 and Oct. 27, 2011). The assay results further confirm those important observations. Mineralogical studies indicate that the HREE mineralization is found primarily in the rare-earth fluocarbonates, synchysite and parisite, at Whitetail Ridge and Carbon, and in xenotime, an yttrium-vanadium phosphate, and rare-earth fluocarbonates at East Taylor. Examination of significant intercepts from the current set of drill assay results indicates that there is a districtwide zonation in which the strongest TREO enrichment occurs within a central zone focused on the Bull Hill and Bull Hill Northwest deposits, while the strongest HREE (Eu, Tb, Dy and Y) enrichment is found in mineralization peripheral to the central zone and focused at the Whitetail Ridge deposit, and at the Carbon and Taylor REE target areas. The peripheral enrichment zone is ascribed to a late-stage, low-temperature hydrothermal event.
Key objectives and results of 2012 drill program to date
The objectives of the current drilling program are to further expand and upgrade the Bull Hill and Whitetail Ridge oxide resources, and further delineate the HREE (Eu, Tb, Dy and Y) enrichment at the Carbon target area. The drill results highlight more details of a Bear Lodge districtwide zonation, with a central zone of strong TREO enrichment that gives way to a peripheral zone of significant Eu, Tb, Dy and Y enrichment.
The results announced in this release include assays from eight core holes at the Bull Hill REE deposit; five core holes and three reverse circulation (RC) drill holes from the Whitetail Ridge resource area; two RC drill holes from the Carbon REE target area; and three RC drill holes from the Taylor REE target area. The RC drilling is being conducted for exploration purposes only and results will not be included in the updated resource estimates.
TOTAL SIGNIFICANT ASSAY INTERCEPTS FROM THE CURRENT DRILL HOLE SET
Sum CREO
No. of (Nd+Pr+Eu+
drill Metres Feet Intercept Intercept TREO Dy+Tb+Y) Eu2O3 Dy2O3 Y2O3
holes drilled drilled (m) (ft) (%) (%) (%) (%) (%)
Bull Hill deposit
8 2,051.5 6,729 447.6 1,468 3.71 0.9 0.021 0.008 0.02
Whitetail Ridge deposit
8 1,901.0 6,235.5 147.6 484 3.27 0.86 0.027 0.027 0.09
Carbon target
2 417.7 1,370 76.2 250 8.37 1.92 0.041 0.036 0.14
East Taylor target
3 536.6 1,760 76.2 250 3.08 0.76 0.019 0.025 0.10
Other highlights of the current drill program include the following
intercepts:
Bull Hill REE resource area
-
RES12-08 -- 19.2 metres (63 feet) at 4.05 per cent TREO;
-
RES12-09 -- 33.7 m (110.5 feet) at 5.37 per cent TREO,
9.8 m (32 feet) at 2.52 per cent TREO,
58.5 m (192 feet) at 2.29 per cent TREO and
9.8 m (32 feet) at 4.24 per cent TREO;
-
RES12-11 -- 25.3 m (83 feet) at 5.73 per cent TREO,
37.0 m (121.5 feet) at 3.53 per cent TREO,
25.8 m (84.5 feet) at 4.76 per cent TREO
and 19.2 m (63 feet) at 2.29 per cent TREO;
-
RES12-14 -- 26.2 m (86 feet) at 3.56 per cent TREO,
7.9 m (26 feet) at 6.18 per cent TREO and
11.6 m (38 feet) at 7.38 per cent TREO;
-
RES12-17 -- 9.8 m (32 feet) at 4.46 per cent TREO.
Whitetail Ridge REE resource area
-
RES12-55 -- 5.9 m (19.5 feet) at 3.78 per cent TREO;
-
RES12-56 -- 25.6 m (84 feet) at 3.76 per cent TREO
and 8.4 m (27.5 feet) at 4.71 per cent TREO;
-
SUN-163 (RC) -- 36.6 m (120 feet) at 4.02 per cent TREO.
Carbon REE target area
-
SUN-150 (RC) -- 18.2 m (60 feet) at 3.29 per cent TREO
and 6.1 m (20 feet) at 4.54 per cent TREO;
-
SUN-151 (RC) -- 39.6 m (130 feet) at 13.03 per cent TREO.
Taylor REE target area
-
SUN-158 (RC) -- 12.2 m (40 feet) at 4.51 per cent TREO;
-
SUN-160 (RC) -- 6.1 m (20 feet) at 6.29 per cent TREO
and 45.7 m (150 feet) at 2.44 per cent TREO.
The host for rare-earth mineralization in the Bear Lodge Mountains is an alkaline igneous complex that forms the core of the mountain range. Rare-earth mineralization intersected in the 21 holes is primarily contained within the near-surface oxidized and leached FMR, and oxidized and incompletely leached (oxide carbonate (OxCa)) equivalents of carbonatite dikes that are widespread in the district, and concentrated in dike swarms and stockwork zones along the southwest flank of the Bull Hill diatreme, west of the Bull Hill drainage, and in association with the Whitetail Ridge diatreme, northwest of Bull Hill. The host rocks at Bull Hill and Whitetail Ridge consist largely of heterolithic intrusive breccia, while the host rocks west of Bull Hill are predominantly trachyte, phonolite and subordinate breccia. FMR refers to the major constituents of the highly oxidized, former carbonatite dikes that occur in the depth range from the surface to 300 m to 500 m beneath the surface. Significant assay results for TREO, CREO, Eu, Dy and Y for the current set of drill holes are listed in the tables.
Bull Hill resource area
Seven of the eight holes in the Bull Hill resource area were drilled along a prescribed northeast-southwest grid at an azimuth of either 45 degrees as infill holes in the main Bull Hill Southwest deposit. Drill hole RES12-08 was drilled at an azimuth of 180 degrees as both an infill and a test for mineralized cross-structures. The resource evaluation grid was established for the Bull Hill deposit in conjunction with Ore Reserves Engineering, the company's resource estimation consultant. Significant assay intercepts from the Bull Hill area drill holes are summarized in the table.
SIGNIFICANT DRILL ASSAY RESULTS FROM THE BULL HILL REE DEPOSIT
Sum
CREO
(Nd+Pr+
Eu+Dy+
Hole From-to From-to Intercept TREO Tb+Y) Eu2O3 Dy2O3 Y2O3
(m) (ft) (m) (ft) (%) (%) (%) (%) (%)
RES12-08 65.9-74.7 216-245 8.8 29 3.42 0.71 0.015 0.006 0.02
104.4-110.7 342.5-363 6.3 20.5 3.42 0.71 0.013 0.005 0.02
135.7-139.0 445-456 3.4 11 2.60 0.55 0.008 0.003 0.01
149.1-155.2 489-509 6.1 20 3.11 0.65 0.011 0.003 0.01
191.2-193.3 627-634 2.1 7 2.94 0.91 0.027 0.007 0.03
235.2-237.9 771-780.5 2.9 9.5 4.86 1.04 0.016 0.006 0.02
256.4-275.6 841-904 19.2 63 4.05 0.93 0.018 0.007 0.02
Total 48.8 160 3.64 0.81 0.016 0.006 0.02
RES12-09 17.8-51.5 58.5-169 33.7 110.5 5.37 1.41 0.033 0.012 0.03
includes 8.2 27 15.66
68.6-70.1 225-230 1.5 5 2.76 0.71 0.016 0.005 0.01
117.9-120.1 387-394 2.1 7 6.03 1.49 0.031 0.011 0.03
127.7-130.2 419-427 2.4 8 4.76 1.41 0.036 0.014 0.05
141.3-150.9 463-495 9.8 32 2.52 0.60 0.015 0.006 0.02
159.5-163.4 523-536 3.9 13 5.16 1.03 0.018 0.006 0.02
171.5-230.0 562.5-754.5 58.5 192 2.29 0.69 0.018 0.007 0.02
277.1-286.9 909-941 9.8 32 4.24 1.13 0.027 0.009 0.03
Total 121.8 399.5 3.53 0.95 0.023 0.009 0.02
RES12-10 234.6-243.1 769.5-797.5 8.5 28 2.61 0.52 0.011 0.004 0.01
Total 8.5 28 2.61 0.53 0.011 0.004 0.01
RES12-11 2.7-6.1 9-20 3.4 11 4.28 0.98 0.016 0.006 0.02
13.9-29.9 45.5-98 16.0 52.5 2.53 0.62 0.012 0.005 0.02
42.4-67.7 139-222 25.3 83 5.73 1.54 0.035 0.014 0.05
92.1-129.1 302-423.5 37.0 121.5 3.53 0.97 0.026 0.011 0.03
includes 2.4 8 11.07
452-536.5 25.8 84.5 4.76 1.03 0.019 0.007 0.02
includes 14.5 47.5 7.37
178.4-180.3 585-591.5 2.0 6.5 7.18 1.54 0.027 0.008 0.03
194.7-201.2 638.5-660 6.6 21.5 3.22 0.73 0.012 0.004 0.01
210.4-215.9 690-708 5.5 18 3.05 0.67 0.012 0.004 0.01
232.3-251.5 762-825 19.2 63 2.29 0.50 0.011 0.003 0.01
Total 140.7 461.5 3.90 0.97 0.021 0.008 0.03
RES12-13 30.8-34.1 101-112 3.4 11 2.39 0.54 0.016 0.010 0.03
77.1-86.4 253-283.5 9.3 30.5 2.87 0.64 0.012 0.005 0.01
143.9-147.6 472-484 3.7 12 2.53 0.57 0.011 0.004 0.01
205.8-208.5 675-684 2.7 9 2.09 0.50 0.010 0.005 0.01
238.6-242.1 782.5-794 3.5 11.5 2.51 0.52 0.014 0.008 0.02
Total 22.6 74 2.59 0.57 0.013 0.006 0.01
RES12-14 0-2.4 0-8 2.4 8 2.33 0.61 0.016 0.009 0.03
54.3-80.5 178-264 26.2 86 3.56 0.84 0.024 0.014 0.04
100.6-104.3 330-342 3.6 12 4.80 0.98 0.025 0.013 0.03
114.3-134.1 375-440 19.8 65 2.21 0.52 0.013 0.005 0.02
155.8-163.7 511-537 7.9 26 6.18 1.23 0.025 0.007 0.02
179.9-182.3 590-598 2.4 8 5.10 1.03 0.017 0.005 0.02
212.8-224.4 698-736 11.6 38 7.38 1.47 0.026 0.009 0.03
Total 74.1 243 4.15 0.9 0.021 0.010 0.03
RES12-15 47.3-48.8 155-160 1.5 5 4.02 0.86 0.026 0.011 0.03
57.9-61.4 190-201.5 3.5 11.5 3.13 0.79 0.023 0.010 0.03
152.7-156.2 501-512.5 3.5 11.5 2.36 0.78 0.024 0.011 0.03
Total 8.5 28 2.97 0.80 0.024 0.011 0.03
RES12-17 27.4-37.2 90-122 9.8 32 4.46 1.13 0.028 0.009 0.03
88.4-91.5 290-300 3.0 10 6.40 1.27 0.026 0.013 0.04
156.6-159.3 513.5-522.5 2.7 9 2.14 0.74 0.027 0.013 0.04
178.3-179.9 585-590 1.5 5 2.47 0.77 0.026 0.009 0.03
223.0-225.5 731.5-739.5 2.4 8 4.39 0.93 0.016 0.004 0.01
246.9-250.0 810-820 3.0 10 2.06 0.43 0.009 0.004 0.01
Total 22.6 74 3.97 0.96 0.024 0.009 0.03
Whitetail Ridge resource area
Rare-earth mineralization in and adjacent to the Whitetail Ridge resource area is associated with the Whitetail Ridge diatreme. The REE mineralization occurs in north- and northwest-trending dikes, veins and stockwork zones. The five core and three RC drill holes were drilled along an azimuth of 270 degrees on an east-west resource grid. Significant assay intercepts from the Whitetail Ridge area drill holes are summarized in the table.
SIGNIFICANT DRILL ASSAY RESULTS FROM THE WHITETAIL RIDGE REE DEPOSIT
Sum
CREO
(Nd+Pr+
Eu+Dy+
Hole From-to From-to Intercept TREO Tb+Y) Eu2O3 Dy2O3 Y2O3
(m) (ft) (m) (ft) (%) (%) (%) (%) (%)
RES12-54 183.9-187.2 603.5-614 3.2 10.5 2.37 0.77 0.023 0.021 0.07
Total 3.2 10.5 2.37 0.77 0.023 0.021 0.07
RES12-55 37.3-39.0 122.5-128 1.7 5.5 3.90 0.69 0.016 0.025 0.14
42.8-45.1 140.5-148 2.3 7.5 2.19 0.57 0.016 0.013 0.04
54.3-60.2 178-197.5 5.9 19.5 3.78 1.11 0.037 0.036 0.12
116.1-117.8 381-386.5 1.7 5.5 3.47 0.67 0.013 0.008 0.03
Total 11.6 38 3.44 0.87 0.026 0.026 0.09
RES12-56 17.9-20.1 59-66 2.1 7 2.34 0.70 0.022 0.021 0.06
58.8-84.4 193-277 25.6 84 3.76 1.25 0.048 0.041 0.15
160.7-163.7 527-537 3.0 10 2.85 0.63 0.019 0.019 0.05
176.5-184.9 579-606.5 8.4 27.5 4.71 0.99 0.020 0.017 0.05
186.4-188.4 611.5-618 1.9 6.5 3.25 0.66 0.012 0.010 0.04
Total 41.2 135 3.79 1.1 0.037 0.032 0.11
RES12-57 112.2-114.0 368-374 1.8 6 2.73 0.93 0.035 0.030 0.10
Total 1.8 6 2.73 0.93 0.035 0.030 0.10
RES12-58 209.8-214.2 688-702.5 4.4 14.5 3.73 0.83 0.023 0.017 0.06
Total 4.4 14.5 3.73 0.83 0.023 0.017 0.06
SUN-161 173.8-182.9 570-600 9.1 30 2.09 0.52 0.015 0.018 0.05
198.2-207.3 650-680 9.1 30 2.09 0.46 0.010 0.010 0.03
Total 18.3 60 2.09 0.49 0.013 0.014 0.04
SUN-162 12.2-18.3 40-60 6.1 20 2.31 0.56 0.014 0.014 0.05
27.4-40.5 90-100 3.0 10 2.03 0.56 0.015 0.022 0.07
64.0-73.1 210-240 9.1 30 2.25 0.54 0.014 0.024 0.06
85.4-88.4 280-290 3.0 10 2.21 0.57 0.014 0.022 0.08
94.5-97.6 310-320 3.0 10 2.08 0.51 0.014 0.018 0.05
Total 24.4 80 2.21 0.55 0.014 0.020 0.06
SUN-163 91.5-128.0 300-420 36.6 120 4.03 1.03 0.035 0.034 0.11
152.4-158.5 500-520 6.1 20 2.99 0.55 0.015 0.018 0.05
Total 42.7 140 3.88 0.96 0.032 0.032 0.10
Carbon REE target area
The Carbon REE target is located about 1,200 feet (370 m) northwest of the Whitetail Ridge deposit along an apparent northwest-trending zone of mineralization. Two RC drill holes (SUN-076 and SUN-079) completed during the 2010 Sundance gold exploration program cut significant REE mineralization in FMR and unoxidized carbonatite vein material. Assays from drill holes at the Carbon target in 2010 and 2011 were reported in previous news releases (Sept. 26, 2012, March 26, 2012, and Aug. 4, 2011). The REE mineralization may portend the northwestern extension of the Whitetail Ridge system or, alternatively, a distinct FMR/carbonatite mineralized system. Significant REE-bearing intercepts from the last two holes drilled at the Carbon target area in 2012 are summarized in the table.
SIGNIFICANT DRILL ASSAY RESULTS FROM THE CARBON REE EXPLORATION TARGET
Sum
CREO
(Nd+Pr+
Eu+Dy+
Hole From-to From-to Intercept TREO Tb+Y) Eu2O3 Dy2O3 Y2O3
(m) (ft) (m) (ft) (%) (%) (%) (%) (%)
SUN-150 64.0-70.2 210-230 6.1 20 2.89 0.59 0.011 0.010 0.03
85.4-103.7 280-340 18.3 60 3.29 0.99 0.024 0.019 0.08
179.9-186.0 590-610 6.1 20 4.54 1.34 0.036 0.044 0.16
630-650 6.1 20 2.67 0.62 0.013 0.020 0.08
Total 36.6 120 3.33 0.93 0.022 0.022 0.09
SUN-151 70.1-109.8 230-360 39.6 130 13.03 2.83 0.059 0.048 0.19
includes 18.3 60 25.87
Total 39.6 130 13.03 2.83 0.059 0.048 0.19
Taylor target area
The Taylor target is located approximately 2,500 feet (760 m) west of the main Bull Hill rare-earth deposit and 2,500 feet southwest of the Whitetail Ridge deposit. Part of the zone appears to have an easterly strike, as opposed to the dominant northwesterly and northerly mineralized structures in the Bull Hill/Whitetail Ridge deposits. The company is working to better understand the overall structural regime and the mineralogical distribution, both of which appear to be complex. The identification of the zone and its enrichment in HREE, relative to the Bull Hill deposits, were discussed in a news release dated Aug. 4, 2011, and drilling results from Rare Element's 2011 drill program were reported in news releases dated Oct. 27, 2011, and March 26, 2012. Selected pulps of assay intervals from Newmont Mining's historic gold exploration drilling at the Taylor target were reassayed for REE in 2012, and results were reported in a news release dated Sept. 26, 2012. Significant assay results from the three RC drill holes at the Taylor target are given in the table.
SIGNIFICANT DRILL ASSAY RESULTS FROM THE TAYLOR REE EXPLORATION TARGET
Sum
CREO
(Nd+Pr+
Eu+Dy+
Hole From-to From-to Intercept TREO Tb+Y) Eu2O3 Dy2O3 Y2O3
(m) (ft) (m) (ft) (%) (%) (%) (%) (%)
SUN-157 140.2-143.3 460-470 3.0 10 2.54 0.60 0.015 0.019 0.09
Total 3.0 10 2.54 0.60 0.015 0.019 0.09
SUN-158 45.7-57.9 150-190 12.2 40 4.51 1.01 0.029 0.027 0.11
134.1-143.3 440-470 9.1 30 2.46 0.56 0.013 0.020 0.09
Total 21.3 70 3.63 0.82 0.022 0.024 0.10
SUN-160 24.4-30.5 80-100 6.1 20 6.29 1.5 0.029 0.025 0.11
7.2-121.2 250-400 45.7 150 2.44 0.65 0.016 0.025 0.10
includes 3.0 10 7.53
3.0 10 7.72
Total 51.8 170 2.89 0.75 0.018 0.025 0.10
Values from the Bull Hill measured and indicated resource, and the Whitetail Ridge inferred resource are shown for comparison in the table.
CRITICAL RARE EARTHS IN THE BULL HILL AND WHITETAIL RIDGE DEPOSITS
Deposit Tonnes TREO Sum CREO Eu2O3 Dy2O3 Y2O3
(M) (%) (Nd+Pr+Eu+Dy+Tb+Y) (%) (%) (%)
(%)
Bear Lodge
(Bull Hill;
M+I (1.5% c/o)) 6.84 3.79 0.92 0.021 0.011 0.03
Bear Lodge
(Whitetail
Ridge;
inferred (1.5% c/o)) 4.35 2.51 0.685 0.022 0.022 0.065
Assays, quality control and standard certification
Activation Laboratories Ltd. of Ancaster, Ont., Canada (ActLabs), conducted the assaying for the rare-earth elements in the 2012 drill holes reported here in its Ontario assay facility. ActLabs is accredited to ISO 9001 and ISO 17025 methods. The samples were prepared and subjected to lithium metaborate fusion, followed by ICP analysis and a mass spectroscopy finish.
For the 2012 drill hole assays, analytical quality is monitored through the use of randomly inserted quality control samples, including standards, blanks and duplicates, which are blinded to the analytical laboratory. Results from the analyses at ActLabs are evaluated continuously by Dr. Jeffrey Jaacks, the company's quality assurance/quality control consultant, who is a qualified person according to National Instrument 43-101. The results from the current data set of 2012 drill hole assays indicate acceptable accuracy and precision. Blank analyses also indicate no issues with carry-over contamination. For the reassay of intervals from historic gold exploration drill holes, only internal quality control data from Actlabs and ALS Chemex were used to monitor the quality of the assay data and those assay data are deemed to be of acceptable accuracy and precision.
Dr. Donald Ranta, Rare Element's qualified person under NI 43-101, supervised the preparation of the scientific and technical information concerning the company's mineral project contained in this news release. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources, as well as data verification procedures, and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors, please see the technical reports for the project filed on SEDAR.
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