Rare Element Resources Increases REO Mineral and Indicated Resources At Bear Lodge
Wednesday, January 4, 2012 10:41 AM
Rare Element Resources Ltd. (NYSE Amex:REE)(TSX:RES) says that the company’s current rare earth oxide resource(REO) estimate at its Bear Lodge project in Wyoming has increased by 6.8 million tons at 3.75% REO. The new resource estimate is derived from a rare earth element database that includes 117 core drill holes completed by Rare Element Resources between 2008 and 2011, the company says. “The company's 2011 exploration program completed a record number of drill holes, although the results of less than half of the holes have been received and logged,” says Don Ranta, chairman of Rare Element Resources. “These interim updated results have expanded and upgraded the known resources, and discovered targets with substantial potential for defining additional rare-earth resources with significant middle and heavy REE-enrichment.” Fourteen different REE oxides, both heavy and light, were included in the updated mineral and indicated resource increase. Yttrium was also discovered within the mineralization zone. Rare Element Resources is a mineral resource company focused on REE and gold development in Wyoming.
By Alex Létourneau of Kitco News; aletourneau@kitco.com
www.kitco.com/reports/KitcoNews20120104_MM.html