TSX: RES & AMEX: REE
VANCOUVER, June 28, 2011 /PRNewswire/ - Rare Element Resources Ltd. (TSX: RES and NYSE Amex: REE) is pleased to announce that the 2011 rare earth element ("REE") drilling program has commenced at the Company's Bear Lodge rare earth element project in Wyoming.
Two core drilling rigs are currently on the project site and will be used to test the Bull Hill REE area and Whitetail Ridge REE targets. A third drill rig is expected to begin work shortly. The program to test the REE targets will consist of approximately 40 angle drill holes to general depths of 400 to 1,200 feet.
The REE drilling program will be augmented by geological mapping, geophysical surveys, soil and rock chip geochemical surveys, and additional bulk sampling of near-surface mineralized material.Rare Element's exploration and evaluation plans for the Bear Lodge project in 2011 include:
- Additional resource definition drilling to expand and upgrade the resources at the Bull Hill SW, Whitetail Ridge, and Bull Hill NW deposits.
- Exploration drilling at the Bull Hill West, Carbon REE, and other prospective REE targets identified during the 2010 exploration program.
- Geological mapping, geochemical sampling, and geophysical surveys over selected areas in order to better delineate current target areas and identify new targets for economic REE mineralization.
- Collection of additional bulk sample mineralized material for the pilot plant testing from a second large diameter core drilling program in select, well-mineralized areas, along with additional sampling of mineralized surface exposures in road cuts, trenches, and drill sites.
- A condemnation drilling program to ensure that the proposed low-grade stockpile and waste facility will not cover ground that is prospective for REE and/or gold mineralization.
- Environmental baseline and geotechnical studies directed toward ultimate mine development.
- Continued metallurgical testing of oxide zone mineralized material for optimization of mineral concentration and chemical concentration processes.
- Pilot plant metallurgical testing on bulk sample material collected in 2010 to produce a potentially saleable rare earth carbonate concentrate.
- Continuation of metallurgical testing on the oxide-carbonate mineralized material.
- Completion of a Preliminary Feasibility Study in the first quarter of 2012.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV