Mr. David Suleski reports
RARE ELEMENT REPORTS ADDITIONAL DRILLING RESULTS HIGH IN CRITICAL RARE EARTH ELEMENTS
Rare Element Resources Ltd. has released rare-earth-element assay results from the final core holes completed during the 2012 drilling program at the company's 100-per-cent-owned Bear Lodge property, located in northeastern Wyoming, United States. The drilling results confirm that the Bear Lodge deposits contain high grades of total rare earth oxide (TREO), including high abundances of combined critical rare earth oxides (CREOs).
Dr. James Clark, vice-president of exploration for Rare Element Resources, states: "Assay results are now in from all of the development and exploration core holes drilled during our 2012 program. We are extremely pleased with the results as most recent drill results confirm and further expand the quality and continuity of the Bull Hill REE deposit and the Whitetail Ridge resource area. We expect to significantly increase the measured and indicated resources in those deposits in preparation for the upcoming definitive feasibility study (DFS). Further, the results confirm the zones of [heavy-rare-earth-element] enrichment (europium, terbium, dysprosium and yttrium) at Whitetail Ridge and Carbon, and illustrate the significance of this world-class source of CREOs."
Critical rare earth oxides (CREO)
Critical rare earth elements (CREEs) are those with the highest value and for which the strongest future growth is projected. The company refers to the oxides of neodymium, praseodymium, Eu, Tb, Dy and Y as critical rare earth oxides (CREO). In 2011, the company identified significant HREEs (Eu, Tb, Dy and Y) in leached FMR (FeOx, MnOx and 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, 2011, Oct. 27, 2011, and Dec. 10, 2012). The current set of assay results from the Whitetail Ridge resource area and Carbon target confirms those important observations. Examination of aggregate significant intercepts from past drill results and 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.
Objectives of the 2012 drill program
The objectives of the 2012 drilling program were to expand and upgrade the district's resource categories at the Bull Hill and Whitetail Ridge oxide deposits, and to further delineate the HREE (Eu, Tb, Dy and Y) enrichment at the Whitetail Ridge resource area and Carbon target area. The drill results emphasize a Bear Lodge districtwide REE zonation, with a central zone of strong TREO enrichment that gives way to a peripheral zone with significant TREO, and strong Eu, Tb, Dy and Y enrichment.
The assay results from 35 core holes are announced in this release, and include assays from 15 core holes at the Bull Hill REE deposit, 18 holes from the Whitetail Ridge resource area and two holes from the Carbon REE target area.
AGGREGATE SIGNIFICANT ASSAY INTERCEPTS FROM THE CURRENT DRILL HOLE SET
Aggregate Sum CREO
Total significant No. of (Nd+Pr+Eu
Area drilled intercept holes TREO +Dy+Tb+Y) Eu2O3 Dy2O3 Y2O3
(m) (ft) (m) (ft) (%) (%) (%) (%) (%)
Bull Hill 4366.2 14321 819.7 2688.5 15 3.75 0.9 0.021 0.009 0.03
Whitetail 4614.2 15134.5 531.4 1743.5 18 2.78 0.76 0.025 0.024 0.07
Carbon 319.5 1048 16.3 53.5 2 4.92 1.03 0 0.020 0.08
Note: Significant assay intercepts defined as greater than 2 per cent TREO over an
intercept thickness of 10 feet (3.28 metres) or greater than 5 per cent TREO
over greater than five feet (1.64 m).
Other highlights of the current drill program include the following intercepts.
Bull Hill deposit:
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RES12-12 -- 14.3 metres (47 feet) of 4.10 per cent TREO (total rare earth oxide) and 25.3 m (83 feet) of 3.47 per cent TREO;
-
RES12-16 -- 28.8 m (94.5 feet) of 5.36 per cent TREO;
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RES12-19 -- 48.8 m (160 feet) of 3.48 per cent TREO;
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RES12-20 -- 36.6 m (120 feet) of 5.71 per cent TREO;
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RES12-22 -- 12.5 m (41 feet) of 5.71 per cent TREO;
-
RES12-23 -- 29.0 m (95 feet) of 2.94 per cent TREO;
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RES12-25 -- 20.6 m (67.5 feet) of 2.64 per cent TREO, 16.9 m (55.5 feet) of 9.93 per cent TREO, 15.7 m (51.5 feet) of 4.05 per cent TREO;
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RES12-26 -- 49.7 m (163 feet) of 3.07 per cent TREO, 17.1 m (56 feet) of 4.21 per cent TREO, 18.3 m (60 feet) of 5.85 per cent TREO;
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RES12-27 -- 12.2 m (40 feet) of 4.41 per cent TREO, 53.7 m (176 feet) of 3.60 per cent TREO;
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RES12-29 -- 14.9 m (49 feet) of 4.89 per cent TREO, 23.9 m (78.5 feet) of 4.89 per cent TREO;
-
RES12-30 -- 16.2 m (53 feet) of 2.58 per cent TREO, 37.2 m (122 feet) of 2.96 per cent TREO, 33.5 m (110 feet) of 2.38 per cent TREO.
Whitetail Ridge deposit:
-
RES12-59 -- 9.8 m (32 feet) of 3.86 per cent TREO;
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RES12-60 -- 19.2 m (63 feet) of 6.46 per cent TREO, 9.1 m (30 feet) of 3.09 per cent TREO;
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RES12-61 -- 15.2 m (50 feet) of 3.19 per cent TREO;
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RES12-64 -- 93.6 m (307 feet) of 2.26 per cent TREO, 16.9 m (55.5 feet) of 2.39 per cent TREO;
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RES12-67 -- 13.4 m (44 feet) of 2.70 per cent TREO, 7.6 m (25 feet) of 4.06 per cent TREO;
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RES12-71 -- 9.1 m (30 feet) of 2.92 per cent TREO, 15.2 m (50 feet) of 2.18 per cent TREO;
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RES12-74 -- 11.1 m (36.5 feet) of 3.10 per cent TREO;
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RES12-76 -- 18.0 m (59 feet) of 2.82 per cent TREO;
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RES12-79 -- 10.4 m (34 feet) of 3.47 per cent TREO.
Carbon target area:
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RES12-87 -- 11.9 m (39 feet) of 5.51 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 35 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 associated with a series of diatreme breccias at Bull Hill, Whitetail Ridge and Carbon 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 feet to 800 feet beneath the surface. Significant assay results for TREO, CREO, Eu2O3, Dy2O3 and Y2O3 for the current set of drill holes are listed in the attached tables.
Bull Hill resource area
Twelve of the current set of 15 core holes in the Bull Hill resource area were drilled along a prescribed northeast-southwest grid, at an azimuth of 045 degrees as infill holes in the main Bull Hill SW deposit. The remaining three holes were drilled at azimuths of 090 degrees, 015 degrees and 225 degrees to test subordinate groups of mineralized structures with orientations that differ from the main Bull Hill trend. The resource evaluation grid was established for the Bull Hill deposit in conjunction with Ore Reserves Engineering, the company's resource estimation consultant. The bearing, inclination and significant assay intercepts from the Bull Hill area drill holes are summarized in the attached table.
The tables use the following abbreviations for the ore types: oxide (Ox), oxide carbonate (OxCa), transition (Trans) and unoxidized (UnOx).
SIGNIFICANT DRILL ASSAY RESULTS FROM THE BULL HILL REE RESOURCE AREA
(Nd+Pr+Eu
Hole Interval Intercept TREO +Dy+Tb+Y) Eu2O3 Dy2O3 Y2O3
(m) (ft) (m) (ft) (%) (%) (%) (%) (%)
RES12-12 3-17.4 10-57 14.3 47 4.1010 0.9643 0.0199 0.0058 0.0209
41.8-67 137-220 25.3 83 3.4740 0.8088 0.0193 0.0054 0.0175
RES12-16 106.7-135.7 350-445 28.8 94.5 5.36 1.18 0.026 0.008 0.024
Includes 14 46 9.35
181-187 593-614 6.4 21 3.37 0.72 0.015 0.006 0.016
RES12-18 32-35.4 105-116 3.4 11 2.52 0.56 0.018 0.009 0.028
46.6-50 153-163.5 3.2 10.5 2.38 0.55 0.013 0.006 0.018
75.6-79 248-259 3.4 11 2.84 0.61 0.016 0.006 0.017
84.7-97.2 278-319 12.5 41 2.61 0.55 0.012 0.005 0.015
109.4-112 359-367 2.4 8 6.48 1.63 0.039 0.010 0.026
RES12-19 30-33 98-108 3 10 2.017 0.44 0.008 0.004 0.014
46.6-52.7 153-173 6.1 20 2.30 0.47 0.008 0.004 0.015
102.4-108 336-354 5.5 18 2.97 0.69 0.015 0.006 0.018
122-125.3 401-411 3 10 5.97 1.23 0.023 0.022 0.074
143.3-146.3 470-480 3 10 3.15 0.67 0.013 0.004 0.012
186.3-235 611-771 48.8 160 3.48 0.68 0.013 0.005 0.015
Includes 3.5 11.5 16.14
3.4 11 6.86
1.5 5 8.24
RES12-20 10-12.8 33-42 2.7 9 5.05 1.33 0.032 0.014 0.067
36.3-46.6 119-153 7.3 24 2.30 0.56 0.015 0.008 0.025
54.9-58.5 180-192 3.7 12 2.78 0.77 0.025 0.020 0.066
220-256 720-840 36.6 120 5.71 1.31 0.031 0.012 0.034
Includes 16.6 54.5 8.80
1.8 6 5.099
RES12-22 65.9-70.6 216-231.5 4.7 15.5 3.84 1.11 0.038 0.012 0.032
78.2-85 256.5-278.5 6.7 22 2.04 0.63 0.020 0.009 0.024
143.3-150 470-491 6.4 21 4.91 1.10 0.027 0.012 0.034
184.1-196.6 604-645 12.5 41 5.71 1.70 0.052 0.018 0.049
Includes 3.7 12 9.20
197.3-206 647-676 8.8 29 3.14 0.72 0.018 0.007 0.019
216.5-226 710-741 9.5 31 2.30 0.53 0.012 0.005 0.014
240-245 787-803 4.9 16 3.00 0.67 0.013 0.006 0.019
RES12-23 0-4.6 0-15 4.6 15 2.50 0.39 0.010 0.004 0.013
11.9-16.8 39-55 4.9 16 2.65 0.74 0.017 0.007 0.025
22.9-29 75-95 6.1 20 3.53 0.88 0.021 0.007 0.022
53-58.5 174-192 5.5 18 2.58 0.65 0.015 0.006 0.020
67.7-96.6 222-317 29 95 2.94 0.72 0.018 0.008 0.028
108.8-113.7 357-373 4.9 16 3.44 0.74 0.014 0.005 0.017
136.3-139.3 447-457 3 10 2.33 0.54 0.013 0.004 0.014
158.8-165 521-541 6.1 20 4.10 0.94 0.020 0.007 0.022
171.8-174.8 563.5-573.5 3 10 4.08 0.93 0.017 0.006 0.019
210-213 688-698.5 3.2 10.5 5.52 1.60 0.047 0.013 0.035
RES12-24 20.1-23.5 66-77 3.4 11 2.05 0.45 0.010 0.005 0.019
192-196.3 629.5-644 4.4 14.5 3.41 0.75 0.015 0.007 0.019
RES12-25 52-72.6 170.5-238 20.6 67.5 2.64 0.66 0.014 0.005 0.016
87.3-104.3 286.5-342 16.9 55.5 9.93 2.46 0.058 0.024 0.0691
121.5-125 398.5-410.5 3.7 12 2.97 0.71 0.014 0.004 0.013
146.3-162 480-531.5 15.7 51.5 4.05 0.93 0.022 0.009 0.026
180.5-183.5 592-602 3 10 2.53 0.53 0.011 0.004 0.013
RES12-26 69.2-119 227-390 49.7 163 3.07 0.68 0.014 0.005 0.016
125.6-143 412-468 17.1 56 4.21 1.05 0.022 0.008 0.025
153.3-172 503-563 18.3 60 5.85 1.41 0.029 0.014 0.050
202.7-211.6 665-694 8.8 29 3.32 0.75 0.012 0.006 0.019
267.5-275.2 877.5-902.5 7.6 25 2.58 0.64 0.012 0.005 0.021
287.2-290.2 942-952 3 10 2.01 0.57 0.015 0.007 0.022
RES12-27 6.1-9.6 20-31.5 3.5 11.5 2.50 0.84 0.031 0.032 0.104
15.5-21.6 51-71 6.1 20 2.89 1.07 0.048 0.029 0.08
61.3-73.5 201-241 12.2 40 4.41 1.31 0.044 0.033 0.116
116.8-122.9 383-403 6.1 20 3.14 0.83 0.023 0.014 0.042
129-132 423-433 3 10 2.22 0.49 0.010 0.005 0.014
187.5-191.8 615-629 4.3 14 2.86 0.85 0.024 0.012 0.041
263.7-266.8 865-875 3 10 3.45 1.03 0.024 0.008 0.030
282-285 925-935 3 10 2.38 0.52 0.011 0.004 0.015
290-343.6 951-1127 53.7 176 3.60 0.79 0.016 0.006 0.022
35.3-58.6 115.8-190.5 9.9 32.5 3.19 0.95 0.025 0.009 0.027
RES12-28 20.6-28.86 7.5-94.5 8.2 27 4.15 1.00 0.023 0.010 0.026
RES12-29 41.5-46.6 136-153 5.2 17 2.99 0.89 0.029 0.009 0.024
152.9-156.7 501.5-514 3.8 12.5 2.21 0.54 0.013 0.005 0.018
162-165.5 531.5-543 3.5 11.5 2.20 0.54 0.013 0.005 0.015
180-195.1 591-640 14.9 49 4.89 1.13 0.024 0.009 0.035
204.3-228.2 670-748.5 23.9 78.5 4.89 1.21 0.025 0.011 0.036
240.4-246.6 788.5-809 6.3 20.5 6.66 1.54 0.035 0.018 0.065
258-263 846-863 5.2 17 6.09 1.36 0.030 0.014 0.049
294-298.8 964-980 4.9 16 2.42 0.68 0.020 0.012 0.033
334.2-337.8 1096-1108 3.7 12 2.39 0.53 0.010 0.004 0.011
RES12-30 33-49.2 108.5-161.5 15.9 52 2.58 0.66 0.016 0.005 0.017
76.2-113.4 250-372 37.2 122 2.96 0.72 0.016 0.005 0.014
157.6-161.7 517-530.5 4.1 13.5 2.18 0.59 0.015 0.005 0.016
185-218.6 607-717 33.5 110 2.38 0.66 0.016 0.006 0.018
251.8-255.5 826-838 3.7 12 3.18 0.88 0.020 0.008 0.030
263.4-267.4 864-877 4 13 4.72 1.06 0.021 0.006 0.020
278.7-280.8 914-921 2.1 7 5.92 1.20 0.021 0.006 0.019
291.3-295.3 955.5-968.5 4 13 4.07 1.05 0.023 0.009 0.030
RES12-31 192.4-196 631-643 3.7 12 2.27 0.48 0.012 0.011 0.043
205.5-208-5 674-684 3 10 2.34 0.57 0.015 0.011 0.041
293.9-297.3 964-975 3.4 11 2.86 0.91 0.029 0.014 0.044
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. Twelve of the 18 core holes were drilled along an azimuth of 270 degrees on an east-west resource grid to test northerly trending mineralized structures, and six holes were drilled at azimuths of 225 degrees to 233 degrees to test northwesterly mineralized structures. The bearing, inclination and significant assay intercepts from the Whitetail Ridge area drill holes are summarized in the associated table.
SIGNIFICANT DRILL ASSAY RESULTS FROM THE WHITETAIL RIDGE REE DEPOSIT
(Nd+Pr
(+Eu+Dy
Hole Interval Intercept TREO +Tb+Y) Eu2O3 Dy2O3 Y2O3
(m) (ft) (m) (ft) (%) (%) (%) (%) (%)
RES12-59 27.1-36.9 89-121 9.8 32 3.86 0.95 0.026 0.017 0.055
96.3-99.4 316-326 3 10 3.04 0.80 0.025 0.0174 0.054
107.2-111.6 351.5-366 4.4 14.5 4.49 1.33 0.041 0.035 0.118
256.9-260.5 842.5-854.5 3.7 12 4.64 0.89 0.022 0.013 0.035
RES12-60 0-19.2 0-63 19.2 63 6.46 1.53 0.043 0.047 0.119
Includes 5.9 19.5 16.79
38.7-41.8 127-137 3 10 2.16 0.49 0.017 0.018 0.046
RES12-61 165.9-169 544-554 3 10 2.32 0.81 0.038 0.021 0.055
226.8-238.7 744-783 11.9 39 2.51 0.79 0.034 0.019 0.053
260.4-263.4 854-864 3 10 2.11 0.73 0.032 0.017 0.046
266.5-269.5 874-884 3 10 2.07 0.69 0.025 0.015 0.046
306.1-315.2 1004-1034 9.1 30 3.09 0.75 0.027 0.012 0.034
RES12-62 0-99.4 0-326 99.4 326 1.69 0.42 0.011 0.015 0.0455
27.4-35.4 90-116 7.9 26 2.72 0.64
70-84.1 226-276 15.2 50 3.19 0.77
93.3-96.3 306-316 3 10 3.23 0.77
RES12-63 0-3.5 0-11.5 3.5 11.5 5.98 1.83 0.076 0.057 0.096
20.3-24.4 66.5-80 4.1 13.5 6.27 1.51 0.050 0.057 0.126
87.5-90.5 287-297 3 10 2.05 0.60 0.018 0.030 0.083
136.3-139.3 447-457 3 10 3.54 0.85 0.021 0.029 0.086
153-157.3 502-516 4.3 14 2.90 0.98 0.033 0.049 0.131
166.5-171 546-561 4.6 15 5.18 1.19 0.034 0.052 0.135
RES12-64 47-140.5 154-461 93.6 307 2.26 0.71 0.024 0.019 0.065
147.6-164.5 484-539.5 16.9 55.5 2.39 0.77 0.025 0.023 0.076
252.7-257.9 829-846 5.2 17 2.38 0.76 0.034 0.023 0.058
303-307 994-1007 4.0 13 2.43 0.81 0.041 0.028 0.079
RES12-65 137.2-140.2 450-460 3 10 2.056 0.45 0.010 0.014 0.049
RES12-66 17.7-20.4 58-67 2.7 9 10.84 2.33 0.047 0.045 0.160
37.8-42.7 124-140 4.9 16 4.30 1.37 0.039 0.037 0.144
338.7-342.4 1111-1123 3.7 12 3.29 1.09 0.046 0.037 0.092
RES12-67 113.1-126.5 371-415 13.4 44 2.70 0.69 0.019 0.021 0.072
146.3-154 480-505 7.6 25 4.06 0.82 0.017 0.023 0.075
RES12-68 242-245.1 794-804 3 10 3.85 1.00 0.040 0.033 0.086
321.6-324 1055-1063 2.4 8 3.50 1.15 0.048 0.034 0.102
RES12-70 21.3-24.4 70-80 3 10 2.57 0.65 0.022 0.026 0.068
RES12-71 12.2-18.3 40-60 6.1 20 3.50 1.04 0.034 0.045 0.118
36.6-45.7 120-150 9.1 30 2.92 0.72 0.020 0.028 0.086
64-67 210-220 3 10 3.87 1.24 0.037 0.045 0.154
125-140.2 410-460 15.2 50 2.18 0.49 0.014 0.018 0.052
152.4-157.9 500-518 5.5 18 5.32 1.39 0.048 0.068 0.172
RES12-74 28-39.2 92-128.5 11.1 36.5 3.10 0.97 0.034 0.021 0.058
97-104.3 318-342 7.3 24 3.02 0.87 0.032 0.026 0.081
112.2-114.9 368-377 2.7 9 2.76 0.84 0.028 0.020 0.058
RES12-75 28.7-33.2 94-109 4.6 15 2.93 0.73 0.026 0.021 0.048
42.4-45.4 139-149 3 10 3.86 0.99 0.034 0.043 0.117
69.2-77.3 227-253.5 8.1 26.5 2.29 0.72 0.030 0.027 0.076
81.1-86 266-282 4.9 16 2.07 0.49 0.020 0.022 0.052
100.2-104.3 328.5-342 4.1 13.5 4.41 1.11 0.039 0.037 0.083
RES12-76 6.7-14 22-46 7.3 24 3.46 0.93 0.039 0.027 0.069
24.4-33.8 80-111 9.4 31 2.33 0.62 0.026 0.016 0.038
116.2-134.1 381-440 18 59 2.82 0.75 0.024 0.023 0.070
RES12-78 24.5-31.1 80.5-102 6.5 21.5 2.28 0.73 0.032 0.029 0.077
47.6-50.6 156-166 3 10 2.16 0.50 0.011 0.015 0.051
175.5-182.3 575.5-598 6.9 22.5 2.91 0.81 0.023 0.026 0.084
RES12-79 52.1-55.2 171-181 3 10 3.39 0.87 0.026 0.025 0.072
101.5-106.7 333-350 5.2 17 2.40 0.66 0.020 0.025 0.074
150.3-160.7 493-527 10.4 34 3.47 0.98 0.041 0.043 0.127
RES12-84 6.7-17.1 22-56 10.4 34 2.35 0.76 0.031 0.031 0.082
139.3-153 457-502 13.7 45 2.12 0.61 0.022 0.021 0.050
The 2012 drilling at the Whitetail Ridge resource area also identified significant gold mineralization. The gold mineralization occurs both coincident with, and outboard of, the HREE-enriched FMR dikes and veins. Significant gold intercepts from core holes drilled at Whitetail Ridge in 2012 are listed in the associated table.
GOLD MINERALIZATION IN THE WHITETAIL RIDGE REE RESOURCE AREA
Drill hole Interval Interval Intercept Intercept Au
(m) (ft) (m) (ft) (ppm)
RES12-52 270.9-282.6 888.5-927 11.7 38.5 0.67
321.5-334.1 1054.5-1096 12.7 41.5 0.67
RES12-53 93.9-96.8 308-317.5 2.9 9.5 1.36
RES12-56 0-9.45 0-31 9.5 31 0.75
58.8-60.7 193-199 1.8 6 3.03
RES12-62 73.8-79.3 242-260 5.5 18 0.80
157.5-181.7 516.5-596 24.2 79.5 0.61
RES12-63 0-3.5 0-11.5 3.5 11.5 0.56
16.9-19.2 55.5-63 2.3 7.5 1.07
20.3-26.4 66.5-86.5 6.1 20 1.05
130.2-175.9 427-577 45.7 150 0.82
188.1-197.3 617-647 9.1 30 0.50
252.1-267.4 827-877 15.2 50 1.07
276.5-291.8 907-957 15.2 50 0.56
RES12-64 147.6-153.7 484-504 6.1 20 0.63
RES12-65 112.8-142.1 370-466 29.3 96 0.67
RES12-66 312.2-317.4 1024-1041 5.2 17 0.57
RES12-71 0-6.1 0-20 6.1 20 0.76
88.4-182.9 290-600 94.5 310 1.24
REE assay results from drill holes RES12-52 and RES12-53 were reported in a news release dated Sept. 26, 2012, and REE assay results from drill hole RES12-56 were reported in a news release dated Dec. 10, 2012. The REE assay results from the rest of the Whitetail Ridge core holes with significant gold intervals are reported here. The gold mineralization is attributed to the same late, low-temperature hydrothermal event responsible for the HREE enrichment. The results represent the second-highest thickness-by-grade zone of gold mineralization ever intersected in the Bear Lodge district over a period spanning at least the last 30 years.
Carbon REE target area
The Carbon REE target is located about 1,200 feet (370 metres) northwest of the Whitetail Ridge deposit along an apparent northwest-trending zone of mineralization. Two reverse-circulation 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 (Dec. 10, Sept. 26 and March 26, 2012, and Aug. 4, 2011). The REE mineralization can be interpreted as either the northwestern extension of the Whitetail Ridge system or, alternatively, a distinct FMR/carbonatite mineralized system. Significant REE-bearing intercepts from the two core holes drilled at the Carbon target area in 2012 are summarized in the associated table.
SIGNIFICANT DRILL ASSAY RESULTS FROM THE CARBON REE EXPLORATION TARGET
(All RC drill holes)
(Nd+Pr+Eu
Interval Intercept TREO +Dy+Tb+Y) Eu2O3 Dy2O3 Y2O3
Hole (m) (ft) (m) (ft) (%) (%) (%) (%) (%)
RES12-72 62.7-67 205.5-220 4.4 14.5 3.33 1.06 0.030 0.042 0.167
RES12-87 70.4-82.3 231-270 11.9 39 5.51 1.024 0.016 0.012 0.050
Assays, quality control and standard certification
Assays for REE and other selected elements in the 2012 drill program holes reported were conducted by Activation Laboratories Ltd. of Ancaster, Ont., Canada, 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 (code UT-1-0.5g aqua regia ICP/MS analytical package). Gold assays for each sample were conducted using ActLabs code 1A2 Au method (fire assay/AA 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 carryover 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.
Bulk sample drilling
The company conducted a bulk sampling drill program in 2012 to provide additional mineralized material for the upcoming pilot plant test program that will be part of the definitive feasibility study, scheduled to commence mid-year 2013. The program consisted of 14 drill holes totaling 6,853.5 feet of large-diameter core. The holes were PQ sized (85 millimetres inside diameter) or PQ with HQ tails (HQ has 63.5 mm inside diameter). The drill hole material is being combined with material from the 2011 bulk sample drilling program (38 PQ and HQ drill holes totalling 5,821.5 feet) and trench samples to provide more than 21 short tons of mineralized material to the 2013 pilot plant.
John T. Ray, MS, Rare Element's qualified person under Canadian 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 as filed on SEDAR.
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