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Mexico Lithium Project - Update Stage 2 Drilling
Mexico Lithium Project - Update Stage 2 Drilling.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 2591R Rare Earth Minerals PLC 24 October 2013 \n \n\n24 October 2013\n \nRARE EARTH MINERALS PLC\n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nMexico Lithium Project - First Update Stage 2 Drilling\nRare Earth Minerals PLC (AIM: REM) announces that the first hole of a scheduled 24 hole second phase of diamond drilling (Stage 2 Programme) has been successfully completed and identified 59 metres of the same clay formation previously encountered during Phase one drilling on the El Sauz and Fleur Lithium concessions (the \"Concessions\" or individually, a \"Concession\") in northern Mexico.\nDavid Lenigas, Rare Earth Minerals Chairman commented: \n\"The Company is very pleased to have started the second stage of drilling on this Lithium Project and that the first hole has successfully intersected the same sequence of clay down dip from the previously identified lithium-bearing clays. With drill and assay results from the expanded programme, it is expected the new data will provide further evidence that the concessions host a new, large lithium resource.\"\nUpdate:\nThe diamond drill under contract from Godbe Drilling of Colorado, USA has completed the first hole of this campaign (ES-11) approximately 200 metres northeast of hole ES-01 and within 20 metres of the boundary with the neighbouring La Ventana concession to the north. It was drilled to a total depth of 258.16 metres and intersected a 35 metre interval of the upper clay unit and a 24 metre interval of the lower clay unit. The estimated true thickness of the upper clay is 33 metres and that for the lower clay is 22.5 metres. The preliminary log of the main units intersected in ES-11 is tabulated below.\nThe result of the first hole successfully demonstrates continuity of the clay units to depth down dip of the previously drilled resource and this new mineralisation will add to the overall resource once assays confirm the quantities of Lithium in the clay. A full suite of analytical results for lithium and other alkali metals and alkali earth metals from drill core samples are expected over the coming weeks. \n \nTable 1. Preliminary Log of Hole ES-11\n \nHole: ES-11 \nFrom To ...