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Final Drill Results Mexico Lithium Project
Final Drill Results Mexico Lithium Project.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 1448M Rare Earth Minerals PLC 21 August 2013 \n \n\n \n \nRare Earth minerals plc\n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n\nFinal Drill Results Mexico Lithium Project\n \nRare Earth Minerals (AIM: REM) has received final analytical results for drill core from its Fleur-El Sauz Lithium Project in northern Mexico. The results provide continued firm evidence that Fleur-El Sauz has potential to be part of a major high grade lithium discovery.\n \nIn addition to the assay results shown below, the Fleur - El Sauz deposits identified to date remain open on strike and at depth.\n \nHighlights:\n \n· REM intersects significant lithium values in both Upper Clay and Lower Clay Units in all drill holes of the first phase programme conducted at its Fleur - El Sauz Lithium Project.\n \n· All ten diamond drill holes, ES-01 to ES-10, show a 4 kilometre strike length for the lithium clay units on the concessions.\n \n· Intervals with significant lithium (greater than 1,000 ppm Li) average 18.27 metres and 27.62 metres in true thickness for the Upper and Lower Clay Units, respectively.\n \n· Preparation of a maiden lithium resource estimate is now underway, with results from this study expected within the next several weeks.\n \n \nDavid Lenigas, the Company's Chairman commented: \n \n\"REM is pleased to report that the final holes confirm the extension of mineralisation through the Fleur - El Sauz licences and increase the potential of outlining a new and substantial lithium deposit.\n \n\"The total known world resource of lithium metal is estimated to be only just over 30 million tonnes, with total world annual production expected to rise from the current 150,000 tonnes of Lithium Carbonate Equivalent (\"LCE\") to 300,000 tonnes by 2020. The majority of current world production is based on brine pumping from Salars in South America, and deposits in China and Australia.\n \n\"Lithium is an important metal in today's quest for energy and energy storage solutions, for example in the fast-growing electric car market. To be part of this discovery is a very exciting prospect for the Company. The substantial amount of lithium...