Business
New Discovery of REE on Greenland Licences
New Discovery of REE on Greenland Licences.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 0658U Rare Earth Minerals PLC 13 October 2014 \n\n \n13 October 2014 \n \nRare Earth Minerals Plc.\n \n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nNew Discovery of REE on Greenland Licences\n \nRare Earth Minerals Plc (AIM: REM) announces, further to its release on the 24 September 2014, that the analysis of samples taken during the recent exploration programme on its 100% owned Greenland exploration licenses has identified a new discovery of Rare Earth Elements (\"REE\") in southern Greenland near Narsarsuaq . \n \nHighlights:\n \n· 16 samples were re-submitted for full suite of REE analyses with results exceeding the Company's expectations.\n· 5 of 16 samples exceeded 7,000 ppm Total Rare Earth Oxides (\"TREO\") with a further two exceeding 2,000 ppm TREO, with the highest value being 18,179 ppm (1.82%).\n· These results included three significant neodymium oxide (Nd2O3) assays which contained 2,928 ppm of Nd2O3. \n· Samples were taken from the target area which previously reported mineralised samples of zinc, manganese, silver and gold. \n \nKiran Morzaria, the Company's Chief Executive Officer commented:\n \n\"The discovery of a new Rare Earth Element deposit east of the world class Kvanefjeld REE project is significant for REM. These assay results are orders of magnitude higher than those previously reported and are indeed higher than the reported resource grades on the nearby Tanbreez deposit. In addition some of these samples contain significant quantities of neodymium oxide, which is a critical rare earth oxide or CREO as defined by the US department of energy. This along with the proximity of these results to two of the world's largest REE deposits, is very encouraging indeed.\"\n \nREE Sampling Results:\n \nExploration on REM's 100% owned 2012/14 licence, which straddles the contact of the Julianehåb Granite and the Eriksfjord Sandstone, initially showed anomalous zinc in pan concentrates to 1,580 ppm Zn. Lithological sampling in the Eriksfjord Sandstone located samples to 0.38% Zn in float, results that indicated more work was required in the area.\n \nFollow up sampling located significant gold anomalism in veined sandsto...