Rare Earth Metals Inc. Discovers New Rare Earth Element Showings At Clay Howells With Results Up To
TSX-V symbol: RA
Thunder Bay, ON – Rare Earth Metals Inc (“Rare Earth Metals” or the “Company”) (TSX VENTURE:RA) has received initial assay results from a sampling program carried out on its properties in the Clay Howells Alkaline Complex in the Kapuskasing area of Northern Ontario. These results include values up to 3.58 per cent and 1.63 percent total rare earth oxides (TREO) from the newly discovered RD and CK 14 zones respectively. The RD zone represents a peripheral zone of the alkalic carbonatite intrusive complex typified by late stage crosscutting mafic dykes at the contact with the enclosing gneissic rocks. Both the RD and the CK zones represent untested radiometric anomalies situated approximately 6 kilometers and 5 kilometers respectively from the main Clay Howells Iron – REE – Nb deposit which was drill tested this past winter (See press releases for February, March, and April, 2010). A number of assays are still pending for samples collected from several other zones discovered during this recent prospecting program.
The Clay Howells alkaline complex is located 45 kilometers north of Kapuskasing, Ontario and has an aerial extent in excess of 110 square kilometers. The property was acquired in July, 2009 in order to evaluate the iron and rare earth mineral potential of the main Clay Howells Prospect located in the eastern part of the Carbonatite. There had been no previous exploration work carried out on the remainder of the Complex which is now the focus of a prospecting/sampling program targeted on radiometric and magnetic anomalies generated from a recently completed airborne survey. The recent results confirm the high potential for the Complex to host various styles of Rare Earth Element mineralization and field work will continue to both identify new areas of mineralization and to advance the known targets.
In addition to the regional prospecting/sampling program, results are expected soon from metallurgical/mineralogical work being carried out by Xstrata Process Support in Sudbury, ON, on the Clay Howells Iron-REE-Nb Deposit. This work is being carried out on recently obtained drill core composites to better understand the ore hosting minerals and to carry out preliminary magnetic separation work to better evaluate the deposit’s economics. Definition drilling will be initiated on the deposit pending these results.
The Company would also like to update plans for exploration at its Letitia Lake/Red Wine properties in west central Labrador. The properties are underlain by the Red Wine Alkaline Complex and are host to a number of known rare element showings including the Mann #1 Be/REE/Nb deposit. A ten man camp has been mobilized to a site on Orma Road which is 40 kilometers from the centre of the property and 80 kilometers north of Churchill Falls, and a program of channel sampling will be initiated in the next week. An airborne magnetic and radiometrics survey is expected to start shortly and a follow-up program of sampling and mapping will follow. This field work is expected to continue to the end of July and a diamond drill program is scheduled for August/September.
The Clay Howells sampling, reported above, was carried out by Rare Earth Metals personnel in May, 2010, and all samples were delivered to a sample preparation facility in Thunder Bay. The samples were analyzed at Activation Laboratories using inductively coupled plasma mass spectrometer. The digestion technique was total digestion that employs a lithium metaborate/tetraborate fusion. TREO represents the total rare earth oxides.
Wayne Reid, PGeo, is a qualified person as defined in National Instrument 43-101, and has reviewed and approved the technical information forming the basis for release.
About Rare Earth Metals Inc.
Rare Earth Metals is a well-funded company with a focus on exploring for Rare Earth Element deposits. The Company’s shares are listed on the TSX-V exchange under the symbol RA and the OTCQX exchange under the symbol RAREF. The Company presently has two advanced projects in Ontario and Newfoundland and Labrador, both exhibiting multi element potential (REEs, Niobium, Beryllium, Zirconium and Iron Ore) and proximity to available infrastructure. Its flagship properties are the Clay-Howells Prospect and the Red Wine Project. The Company has recently acquired additional properties in the Coldwell Complex near Marathon, Ontario and the Lavergne-Springer REE Prospect near Sturgeon Falls, Ontario. Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under the Company’s profile at www.sedar.com. For more information please visit the Rare Earth Metals website at www.rareearthmetals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF RARE EARTH METALS INC.:
“Michael Stares”
President and CEO
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rare Earth Metals Inc.
Michael Stares
President and CEO
Phone: (807) 623-6840
Fax: (807) 623-9526
www.RareEarthMetals.ca