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Auxico Resources Confirms 1.6 Km Strike Length on Company-Controlled Rare Earth Property in Colombia
MONTREAL, Aug. 25, 2021 /CNW Telbec/ - Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce new test results that confirm the presence of high-grade
About this update from Auxico Resources Canada, Inc.
[{"type":"text","content":" MONTREAL, Aug. 25, 2021 /CNW Telbec/ - Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce new test results that confirm the presence of high-grade rare earth metals at a distance of 1.6 kilometres from the initial discovery point on the Company-controlled property in the department of Vichada in Colombia. For reference, please see the new results under Sample #1 in the table below with a total rare earth oxide content of 55.03%. Results from the initial discovery point were the subject of a previous news release published by the Company on May 28, 2021, and they are presented in the table below under Sample #18 with a total rare earth oxide content of 56.81%. Rare Earth Element Symbol Sample #18 Sample #1 Sample #2 Grade (%) Grade (%) Grade (%) Cerium CeO2 31.09 33.53 38.70 Neodymium Nd2O3 9.49 7.64 7.73 Lanthanum La2O3 9.40 6.87 7.36 Praseodymium Pr6O11 2.44 2.02 4.53 Samarium Sm2O3 1.81 1.78 2.27 Gadolinium Gd2O3 0.75 0.97 1.38 Dysprosium Dy2O3 0.72 0.68 0.71 Yttrium Y2O3 0.50 0.14 0.05 Ytterbium Yb2O3 0.40 1.05 0.35 Erbium Er2O3 0.21 0.35 0.13 Total Rare Earth Oxide Content 56.81 55.03 63.21 Auxico signed a memorandum of understanding to earn a 70% interest in a joint venture for the exploitation and trading of industrial sands (tantalum ore) originating from properties in the department of Vichada, Colombia. Auxico's partner has an exclusive purchase agreement for industrial sands with the indigenous community Guacamayas-Maipore. The Company is pleased to report the discovery of high-grade rare earth metals at a distance of 9 kilometres from the Company-controlled property, within the 20,000-hectares permit area held by the indigenous community Guacamayas-Maipore. For reference, please see Sample #2 in the table above, with a total rare earth oxide content of 63.21%. In the past week, the Company's Qualified Person (\"QP\"), Joel Scodnick, P.Geo., has taken 22 samples from 15 prospect pits, of which almost all of them contain red sands and gravels, as well as varying degrees of altered pegmatitic material. This area within the limits of the property measures 1.6 km long by 750 m wide and is open in a...