Business
Filing of Technical Report
Filing of Technical Report.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 9358K Rare Earth Minerals PLC 06 January 2016 \n \n\n \nRare Earth Minerals Plc.\n \n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nFiling of Technical Report on Updated Mineral Resource Estimate for the Sonora Lithium Project, Mexico\n \nRare Earth Mineral Plc (AIM: REM) is pleased to announce that Bacanora Minerals Ltd (\"Bacanora\") in which REM holds 17.19%, has filed a Technical Report (\"Report\") in respect to the Sonora Lithium Project in Mexico (the \"Project\"),. The Report has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects and is entitled, NI 43-101 Mineral Resource Estimate for Sonora Lithium Project, Mexico, December 2015. The lead author of the Technical Report is Mr. Martin Pittuck (MSc., C.Eng., MIMMM), who is a \"Qualified Person\" within the meaning of NI 43-101 and the AIM Rules for Companies, and is independent of the Company. The Report is available for download on the Company's website.\n \nThe Report provides detail in relation to the Mineral Resource Statement (\"MRE\") announced by REM in its press release dated November 23, 2015. REM holds an interest in the Sonora Lithium Project though its 17.19% holding in Bacanora Minerals Ltd ('Bacanora') and the joint ventures interest of 30% in each of Megalit S.A. de CV and Mexalit S.A. de CV as more fully described below. \n \nThe table below shows the MRE for the Sonora Lithium Project with an effective date of November 19, 2015. The statement has been classified in accordance with the terminology, definitions and guidelines given in the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and has been reported in accordance with NI 43-101, by the Qualified Person, Mr. Martin Pittuck (MSc., C.Eng., MIMMM). \n \nThe updated Mineral Resource statement for the Sonora Lithium Project was reported using a cut-off grade of 450 ppm lithium and was contained within a pit shell based on reasonable optimisation parameters and lithium selling price agreed between SRK and Bacanora. \n \nThe updated Mineral Resource statement comprises:\n· Indicated Mineral Resource estimated at 364 Mt, averaging 2,600 ppm Li for ...