Rare Earth Prices Unlikely To Replicate 2003 Decline
It also states that a total of 13 samples were analyzed for the complete range of REEs and that the exploration program's results confirm that the property has high levels of HREEs as well as a high ratio of critical rare earth elements.
At its Lofdal rare earth project in Northwestern Namibia, Namibia Rare Earths (TSX:NRE,OTCQX:NMREF) intersected two new mineralized zones in Area 6 and one new zone in Area 5.
That brings the total number of discoveries at Lofdal — one of which has been drilled into a 43-101 compliant resource — to 17 over a two-year period, according to a press release. Rare earth mineralization occurs in these new zones over very broad widths grading 0.2 to 0.7 percent total rare earth oxide with moderate levels of HREE enrichment (10 to 25 percent).
Namibia Rare Earths' president, Don Burton, confirmed that Area 6 continues to provide encouraging results over a very large area, noting that while its mineralized zones have lower rare earth enrichment than those seen in Area 4, Area 6 is still a heavily enriched zone with the potential for much higher tonnage.Securities Disclosure: I, Adam Currie, hold no direct investment interest in any company mentioned in this article. Related reading: Overview of Molycorp Californian Rare Earth Deposit Rare Earth Prices Unlikely to Replicate 2003 Decline from Rare Earth Investing News
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