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Rush Rare Metals Provides Results of 2024 Exploration Program at Boxi, Finds New Samples on Sigeom From Previous Exploration in 2011, and Provides Updates Respecting Copper Mountain
VANCOUVER, BC / ACCESSWIRE / July 12, 2024 / Rush Rare Metals Corp. (CSE:RSH) ("Rush" or the "Company) is pleased to provide the following updates after complet
About this update from Rush Rare Metals Corp
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / July 12, 2024 / Rush Rare Metals Corp. (CSE:RSH) (\"Rush\" or the \"Company) is pleased to provide the following updates after completion of its spring 2024 exploration program at its Boxi property in Quebec (hereinafter \"Boxi\" or the \"Property\") and further updates respecting its Copper Mountain Property in Wyoming (hereinafter \"Copper Mountain\"). Boxi Update Boxi is a road accessible property comprised of over 8,000 hectares a short distance from Mont Laurier. Boxi was formerly held by Areva S.A. (now Orano), who held the Property based on early samples returning high values for Uranium. Orano dropped the Property following the Fukushima incident in 2013, and Uranium mining was subsequently suspended in Quebec under a temporary moratorium still in place today. Rush subsequently acquired the Property on the strength of Niobium values in samples taken by Orano in 2011. Niobium is categorized as a critical mineral in Canada and is used to make strong, light weight and corrosion resistant steel, superconductors, and various other highly topical products. There are only three Niobium mines of any significance in the world, two of them in Brazil, and the third, the Niobec Mine, just 350km from Boxi in Quebec. At Niobec, mining occurs at between 90 and 450 meters, and Niobium grades are between 0.4 and 0.5% (based on previous disclosures made by Niobec's operator). Given the limited number of Niobium mines world-wide, and the multiple and increasing uses for Niobium, there has been a surge of market interest in Niobium projects recently. For example, on the strength of a new Niobium discovery in Australia, WA1 Resources Ltd. has climbed from a price of $0.14 per share AUD in October 2022, to a current price of over $17 AUD per share (and a market capitalization of approximately $1B AUD) as of July 11, 2024. The spring 2024 exploration program expands on a similar program conducted in 2023, both revolving around a mineralized dyke that runs along the surface through the Boxi Property and for a distance of as much as 15km or more. In addition to completing the spring 2024 program, some additional data was discovered on SIGEOM (a government sponsored interactive map containing geoscientific data collected within Quebec over the past 150 years) surrounding past exploration at Boxi - 15 additional sampl...