Rare Earth Metals undertakes aggressive exploration program
Rare earth metals and rare earth elements, the collection of 17 earth elements in the periodic table (scandium, yttrium and 15 lanthanides), have been making headlines for a valid reason. Holding unique magnetic, fluorescent, and chemical properties, these elements are often key materials used in science and technology, most notably in hybrid vehicles. The Toyota Prius, for example, contains 65 pounds of rare earth elements. Other applications include motors, metal hydride batteries, glass, auto catalysts, lasers and ceramics.Demand for these materials steadily outpaces supply, as their applications transition from innovative theory to everyday use. This creates ideal conditions for rare earth element exploration and development companies. Rare Earth Metals Inc., with a seasoned exploration team, has charted such a trajectory, and is focused on discovering economically significant rare earth element deposits in Canada, particularly those with high-quality existing infrastructure or strong potential for mine development. With project areas in Northern Ontario and Newfoundland and Labrador, the company is poised to move decisively forward in 2012.
Other rare earth projects
The Clay Howells REE deposit is located north of Kapuskasing, Ontario and hosts a magnetite iron REE deposit. After drilling programs in 2010 and 2011, a 43-101-compliant resource of 8.4 million tonnes grading 0.732% TREO, 44% Iron Oxide and 0.13% Niobium Oxide was calculated. Rare Earth Metals is actively seeking a partner to carry out the next phase of metallurgy, economic evaluation and marketing.
In Labrador, the company is focusing on two areas in what is known as the Red Wine Project Area. At the Two Tom prospect, infill drilling in 2011 has defined a 43-101 resource of 40.6 million tonnes averaging 1.18% TREO, 0.26% Niobium Oxide and 0.18% Beryllium Oxide. At Dory Pond, limited drilling has intersected up to 1.11% TREO with a heavy rare oxide to total rare earth ratio of 42%. Heavy rare earths, the last nine elements in the lanthanide group, plus Yttrium are highly sought-after with a value of up to $3,800 per kilogram in oxide form. Rare Earth Metals plans an aggressive exploration program in this area in the summer of 2012.
Tagged Anthony Mariano Sr., Canada, Chemistry, drilling, Economic geology, Matter, metallurgical test, Mining, new territory, Ontario, physical processing, Rare earth element, Rare Earth Metals Inc., Springer-Lavergne project, Sudbury, Tony Mariano Jr.