Rare Earth Metals Reports 1.35% Treo Over 45.0 Meters From Initial Drill Results From Its Letitia La
Thunder Bay, ON – Rare Earth Metals Inc (“Rare Earth Metals”, “RA” or the “Company”) (TSX VENTURE:RA) is pleased to report Rare Earth Element/Niobium/Beryllium results from the initial five drill holes on its Letitia Lake/Red Wine property located approximately 110 kilometers northeast of Churchill Falls in west central Labrador. A total of 18 diamond drill holes totaling 2920 meters have been completed on the Project including six on the Mann #1 Deposit, and eleven on the Two Tom mineralized zone.
The initial six holes tested the Mann #1 over a 700 meter strike length and all holes intersected the REE/Nb/Be zone over substantial widths (drill thicknesses between 21 meters and 45.0 meters). The results include a best intersection of 1.35% TREO, 0.38% Nb2O3, 0.30% BeO over 45 meters in hole DDH-Mann#1-04. The HREO/TREO ratio from this composite is 5.65%. Included in this intersection was a 19.5 meter section assaying 1.77% TREO. The full results from the five holes are tabulated below:
The Company has been carrying out field work on the Red Wine Belt since June, 2010, culminating in this initial drill program. The drilling has been targeted on the two more advanced mineralized zones with the final hole in the program targeted on a third area called the Dory Lake Mineralized Zone. To date, the Mann #1 is the most advanced of the known rare metal mineralization in the Belt and is located in the northwest region of the property where a 50 meter wide zone of Be/Nb/REE mineralization has been mapped intermittently over a strike length of more than 2 km. Five trenches were completed over a 600 meter strike length with results up to 1.35% TREO, 0.52% Nb2O5, and 0.31% BeO over 30.0 meters (see previous press releases dated August 4, 10, and 31, 2010). The zone remains open in all directions. The second advanced target is the Two Tom mineralized zone which is located 18 kilometers east of the Mann #1 in the eastern region of the property. Results from prospecting and channel sampling at Two Tom were previously reported in press releases dated August 31 and September 22, 2010. This zone has been traced for 3 kilometers with mineralization found in both intermittent outcrop and within large, 50 meter by up to 200 meter size boulder fields of 80-90% mineralized angular to sub-angular boulders. Prospect sample assay results ranged up to 6.31% TREO, 8.71% Nb2O5 and 2.00% BeO. Five trenches were completed over approximately 200 meters of strike length and these results were previously reported with a best result of 1.7% TREO, 0.34% Nb2O5, and 0.27% BeO over 17.8 meters. The Two Tom mineralized zone remains open in all directions. The drill program tested a 1.3 kilometer portion of the mineralized zone with eleven holes, however these results are pending.
Commented Michael Stares, President of Rare Earth Metals “We are very pleased with our success rate to date in the Red Wine complex. These results from the Mann #1 drilling confirms the continuity of the mineralized zones found at surface and is a further testament to the excellent potential that the Red Wine Rare Metals Belt holds. From the first days of exploration in early June to the drilling success at the Mann #1 our company has demonstrated it can advance these projects quickly. We are looking forward to receiving the drill results from the Two Tom mineralized zone, which have had some stellar results from our initial trenching and prospecting program.”
The field program at Red Wine has now been completed for the year and the remainder of the drill results and prospect sample results should be received over the next six weeks. Results will be released as they are received. A substantial follow-up program is anticipated in 2011. The Company would like to thank the Government of Newfoundland and Labrador for its support of this project through a financial contribution from the Junior Exploration Assistance program.
Core from the drill program was transported by helicopter from the drill site, logged at Rare Earth Metals’ camp and split in half using a diamond table saw or a manual core splitter. One half of the core was sent to Activation Laboratories Ltd. (“Actlabs”) for analysis and the other half was kept in core boxes at the camp for reference. All samples were delivered by Company personnel to Actlabs’ sample preparation facility in Happy Valley-Goose Bay. The samples were processed and representative pulps sent to Actlabs’ analytical facility in Ancaster, Ontario. The digestion technique was total digestion that employs a lithium metaborate/tetraborate fusion and the analysis is completed using ICP, ICP/MS and XRF techniques. For QA/QC purposes Rare Earth Metals systematically inserts duplicates and blanks into every sample batch. The Company has also established a program of third party check-assays with other labs to confirm the original results. Actlabs is an ISO 17025 (Lab 266) and NELAP (lab E87979) accredited lab for specific registered tests. The Rare Earth Element assays are given as Total Rare Earth Oxides (TREO), the Niobium assays are given as total Niobium Oxides (Nb2O5), and the Beryllium assays are given as total Beryllium Oxides (BeO).
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