Business
Mexico Lithium Project - NI43-101 Technical Report
Mexico Lithium Project - NI43-101 Technical Report.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 3804Q Rare Earth Minerals PLC 14 October 2013 \n \n\n \n \n14 October 2013\n \nRare Earth minerals plc\n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nMexico Lithium Project - NI43-101 Technical Report\n \n \nRare Earth Minerals (AIM: REM) announces that the Company's Joint Venture Partner Bacanora Minerals Ltd (\"Bacanora\") has filed the Technical Report (\"Report\") on the maiden estimated resource in respect of the Fleur and El Sauz concessions (\"Concessions\") that form part of the Sonora Lithium Project in northern Mexico. \n \nThe Report, in compliance with the recognised Canadian Security Administrators' National Instrument 43-101 and CIM guidelines for reporting resources and reserves, has been filed by Bacanora on SEDAR and is also available for download on the Company's website at www.rareearthmineralsplc.com.\n \nThe total inferred Lithium Carbonate Equivalent (\"LCE\") resources at a cut-off of 2,000 ppm lithium on the Fleur-El Sauz Project is 1,486,000 tonnes LCE from 88,271,000 tonnes of clay at an average grade of 1.68% LCE. REM has at present a 30% interest in the Fleur-El Sauz Project, implying REM's share of the estimated inferred resource is 445,800 tonnes of LCE.\n \nThe initial inferred lithium resources for the Concessions apply a cut-off of 2,000 ppm Li for the combined Upper and Lower Clay Units. The Upper Clay Unit has an inferred Li resource estimated at 20,060,000 tonnes averaging 2,748 ppm Li (1.46% LCE) and the Lower Clay Unit has an inferred Li resource estimated at 68,211,000 tonnes averaging 3,278 ppm (1.75% LCE). \n \nThe recently completed drilling campaign on the Concessions tested a 4 kilometre strike length of the lithium-bearing volcanic-sedimentary succession, which remains open down dip and to the east as well as on strike to the south. A relatively high-grade portion of the deposit underlies the northern 2.7 kilometres of the area tested and, at a cut-off of 3,000 ppm Li, contains 53,929,000 tonnes averaging 3,922 ppm Li (2.09% LCE).\n \nIn addition, other potentially valuable alkali metals and alkali earth metals, such as potassium, cesium, rubidium and strontium show marked anomalism in the clays that host the lithium and are being investigated to determine if they will add further value to...