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Drilling Update - Mexican Lithium Joint Venture
Drilling Update - Mexican Lithium Joint Venture.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 1963G Rare Earth Minerals PLC 04 June 2013 \n \n\n4 June 2013\n \nRare Earth minerals plc\n(\"Rare Earth Minerals\" or \"the Company\")\n \nDrilling Update - Mexican Lithium Joint Venture\n \nRare Earth Minerals PLC (AIM: REM) is pleased to provide an update on the diamond drill program that is underway at the El Sauz - Fleur lithium concessions in Northern Mexico, and under joint venture with Bacanora Minerals Ltd. (BCN: TSX-V). The first diamond drill hole (ES-01) has been completed and the second hole (ES-02) is being drilled. The program contemplates 2,500 m of drilling in 10 holes.\nThe first hole was drilled 300 m southeast of and on strike with the La Ventana lithium deposit; the second hole is 1,250 m southeast and also on strike with the La Ventana lithium deposit. The intersections in the first hole encountered a 44 m length of upper clay and a 24 m length of lower clay (Table 1), which is estimated to be equivalent to true thicknesses of 41.4 m and 22.6 m for the upper and lower clay units respectively. These intervals correlate well with the thicknesses of clay units found on La Ventana. The second hole has encountered the upper clay unit and at the time of writing is still in this unit. \nThe results of the first two holes successfully demonstrate continuity of the clay units of the La Ventana lithium deposit onto the Fleur concession. Analytical results from drill core samples taken across the clay units are expected within the next 3 to 4 weeks. Next drill holes will test continuity onto the El Sauz concession where the clay units are exposed at surface. \nTable 1. El Sauz - Fleur 2013 Drill Results to date:\n\n\n\n\nHole: ES-01\n\n\n\n\nFrom\n\n\nTo\n\n\nInterval\n\n\nLithology\n\n\n\n\n0\n\n\n99\n\n\n99\n\n\nBasalt\n\n\n\n\n99\n\n\n143\n\n\n44\n\n\nUpper clay\n\n\n\n\n143\n\n\n156\n\n\n13\n\n\nIgnimbrite\n\n\n\n\n156\n\n\n180\n\n\n24\n\n\nLower clay\n\n\n\n\n180\n\n\n204\n\n\n24\n\n\nBasal volcanics\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHole: ES-02\n\n\n\n\n0\n\n\n3\n\n\n3\n\n\nOverburden\n\n\n\n\n3\n\n\n188\n\n\n185\n\n\nBasalt\n\n\n\n\n188\n\n\n227\n\n\n39\n\n\nUpper Clay\n\n\n\n\n227\n\n\nIn progress\n\n\n\n\n \nDavid Lenigas, The Company's Chairman commented: \n\"REM is pleased to report that the same clay sequences have been identified along strike from the 6...