Business
Rare Earth Metals Inc. Progress Report
May 9, 2011 (Filing Services Canada) -- Rare Earth Metals Inc. (RA - TSX Venture), ("Rare Earth...
About this update from Canada Rare Earth Corp.
[{"type":"text","content":"\nRare Earth Metals Inc. Progress Report\n\n May 9, 2011 (Filing Services Canada) -- \nRare Earth Metals Inc. (RA - TSX Venture), (\"Rare Earth Metals\", \"RA\" or the \"Company\")is pleased to announce that its shares will commence trading in the United States on the OTC market's prestigious tier, OTCQX on Friday, May 13, 2011.  Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com. RA's U.S. trading symbol is \"RAREF\".  Rare Earth Metals' shares are also listed on Canada's TSX Venture Exchange under the symbol \"RA\". Berenbaum Weinshienk PC will serve as Rare Earth Metals' Principal American Liaison (\"PAL\") on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities law. Rare Earth Metals Inc. is also pleased to announce an update on its 2011 exploration programs.Clay-Howells: The Clay-Howells Property covers the Clay-Howells Carbonatite Complex located 40 kilometres north-northeast of Kapuskasing, Ontario. The Property is 100%-owned by Rare Earth Metals Inc. and previous drilling in early 2010 resulted in the partial delineation of the Clay-Howells REE/Nb bearing Magnetite Zone. The zone is analogous to the Bayan-Obo Iron/REE/Nb Mines in Mongolia and was discovered as the result of testing an airborne magnetic anomaly. Evaluation work including magnetic separation and mineralogy is continuing on this deposit however in order to start evaluating the remainder of the 110 square kilometre Carbonatite Complex an eight hole diamond drill program was initiated this winter to test other magnetic anomalies. This drill program was concluded on April 7 and approximately 2154 metres of drilling was completed. The drilling was designed to test a number of high priority magnetic zones located outside of the main Clay-Howells Deposit and consists of both discrete magnetic highs and magnetic lows associated with circular features within the Clay-Howells Carbonatite Complex. Portable XRF (X-Ray Fluorescence) readings, along with favourable geology and magnetite mineralization support the presence of REE mineralization in a number of the holes and a total of 235 samples have been submitted to Activation Laboratories for analysis. Preliminary results indicate the presence of narrow zones of REE and Niobium mineralization ...