Business
Yangibana REE Project Update
Yangibana REE Project Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 1947S Rare Earth Minerals PLC 16 March 2016 \n\nRare Earth Minerals Plc.\n \n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\n \nYangibana REE Project Update & Grant of Additional Mining Licenses\n \nRare Earth Mineral Plc (AIM: REM) advises that Hastings Rare Metals Limited (\"Hastings\"), REM's 70% joint venture partner in the Yangibana Rare Earths Elements (\"REE\") Project (\"Yangibana\") in Western Australia, has announced the grant of additional mining licenses over the Yangibana Project inclusive of licenses owned by the joint venture. The full Hastings news release dated 14 March 2016 is available at: http://www.asx.com.au/asxpdf/20160314/pdf/435t45yy7js94g.pdf. In addition on the 11 March 2016 Hastings released their Interim Financial Report for the period ending 31 December 2015 which contains information in relation to the licenses owned by the joint venture. The full Hastings news release dated 11 March 2016 is available at: http://www.asx.com.au/asxpdf/20160310/pdf/435qmjhd45x36l.pdf The Hastings releases also contains information on areas and licenses which REM has no interest.\n \nHIGHLIGHTS ON JOINT VENTURE ASSETS (30% interest owned by REM)\n \n· Additional Mining Leases (\"ML\") Granted - covering resources and targets at Bald Hill North and Yangibana prospects (M 09/161 and M 09/163 respectively)\n· A total of 3 ML granted under the joint venture which now covers some 31.2 km2, all of the MLs are free of Native Title.\n· The JORC resource estimated for two of these three MLs (previously announced 06/10/2015):\no Indicated Resources at these assets now stand at 2.7 million tonnes at 1.46% TREO** containing 0.50% Nd2O3-Eq* \no Inferred Resources at these assets now stand at 0.6 million tonnes at 1.28% TREO** containing 0.46% Nd2O3-Eq*\n· Pre-Feasibility Study that commenced in early 2015 is nearing completion. Processing test work is advanced, infrastructure sites selected for all major components.\n· Mine designs based on optimised open pits and waste dumps have been designed on ML N/159 (Yangibana North).\n \nFurther diagrams of the granted mining licenses and the Yangibana Nort...