Rare Earth Metals Inc. Reports Positive Results From Preliminary Metallurgical Test Work Carried Out
Thunder Bay, ON – Rare Earth Metals Inc (“Rare Earth Metals” or the “Company”) (TSX VENTURE:RA) has received preliminary metallurgical/mineralogical test work results on the Clay- Howells Iron-REE-Nb Deposit, in the Kapuskasing area of Northern Ontario, being carried out by Xstrata Process Support in Sudbury, ON. This work is being carried out on three drill composites selected from its previously reported winter drilling program. The purpose of the test work is to better understand the ore hosting minerals and to carry out preliminary magnetic separation work to better evaluate the deposit’s economics. The results to date are from the magnetic separation work only, which involves crushing and pulverizing the sample and putting the fine material through a magnetic separator to produce two fractions, a Non Magnetic fraction and a Magnetic fraction. Preliminary results from this test work indicate that a large majority of the magnetite and rare earth mineralogy is coarse grained and that there is a consistent upgrading of REE grade into the Non Magnetic fraction and a substantial upgrade of the Iron content in the Magnetic fraction. In summary 69.7% of the material reported to the Magnetic fraction and 30.3% reported to the Non Magnetic fraction.
Non Magnetic fraction: Testing of the three samples produced a 46.6% to 65.2% recovery of the Rare Earth Elements to the Non Magnetic fraction. The lower recovery of 46.6% resulted in a Non Magnetic fraction grade of 1.4% TREO with the Heavy REO representing 11.8% of the Total. The highest recovery of 65.2% resulted in a Non Magnetic fraction grade of 3.9% TREO with the Heavy REO representing 7.1% of the Total. A breakdown of the more abundant REO’s in the higher grade Non Magnetic fraction includes 1.79% Ce2O3, 1.08% La2O3, 0.52% Nd2O3 and 0.13% Y2O3. Further upgrading of Rare Earth Elements to the Non Magnetic fraction will require optimization of the grind size as well as testing different settings on the magnetic separator. It is anticipated that, after initial magnetic separation, additional REE concentration of the Non Magnetic fraction could be done with conventional flotation methods if the mineralogy is favourable.
Magnetic fraction: Analysis of the Magnetic fraction showed a recovery of between 86.1% and 93.1% of total Iron (Fe2O3). The amount of Fe2O3 reporting to the Magnetic fraction increased by an average of 35% from feed grade of the composites. The Iron grade of the Magnetic fraction ranged from 55.8% to 71.7% Fe2O3 and it is thought that a magnetite concentrate of similar grade is possible from this deposit.
These test results demonstrate that magnetic separation will result in two products being produced, one a high grade iron concentrate and the second being a higher grade REE product that may be amenable to further upgrading. The results are very preliminary in nature and a larger sample will be required to follow up with the next phase of test work that would include a further upgrading of the non magnetic fraction. The mineralogy report is expected in early July.
Wayne Reid, P Geo, and Lori Kormos, P Geo and Chief Geoscientist for Xstrata Process Support, arequalified persons as defined in National Instrument 43-101, and have 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