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Search Minerals Announces Initial Deep Fox Drill Results
VANCOUVER, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- Search Minerals Inc. ("Search" or the "Company") (TSXV:SMY), and its wholly-owned subsidiary, Al
About this update from Search Minerals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- Search Minerals Inc. (\"Search\" or the \"Company\") (TSXV:SMY), and its wholly-owned subsidiary, Alterra Resources Inc. (“Alterra”), are pleased to announce the results of the initial three holes (500m) of a planned 12 drill hole (2000m) drill program at the Deep Fox CREE (Critical Rare Earth Element) prospect located in the Port Hope Simpson (PHS) CREE District in SE Labrador. These results indicate that high CREE grades and significant widths occur both underground and on the surface at Deep Fox. HIGHLIGHTS OF THE INITIAL THREE HOLES OF THE DEEP FOX DRILL PROGRAM Three drill holes at Deep Fox indicate high CREE grades and significant widths both underground and on surface; these are similar to or higher than found at Foxtrot; Assay highlights: FD-17-02: 1231 ppm Y, 1852 ppm Nd, 512 ppm Pr, 41.3 ppm Tb and 241 ppm Dy over 14.13m (true width); FD-17-03: 1321 ppm Y, 1911 ppm Nd, 530 ppm Pr, 41.1 ppm Tb and 241 ppm Dy over 8.04m (true width); Greg Andrews, President and CEO comments: “These initial Deep Fox drill results are very encouraging and support our compelling basis for the drill program. First, the results indicate that the Deep Fox CREE mineralization follows the model established for the Foxtrot CREE mineral resource; mineralization observed on surface can be followed along the volcanic stratigraphy at depth. Second, higher grades of our key elements (Nd, Pr, Dy, Tb) than Foxtrot evidenced at surface, continue underground at Deep Fox. Third, although the strike length is not yet confirmed, the widths were larger than those at Foxtrot. Search plans to finish the current outlined 2000m drill program commencing in May/June 2018, and upon returns of good results and funding, anticipates drilling an additional 2000m program to potentially establish a resource at Deep Fox. This could outline a second resource in the PHS CREE District. We have continued to advance our District during low rare earth prices and are now poised to benefit with the renewed interest in the sector led by government initiatives for renewable energy, electrification of vehicles and increasing prices of our key rare earth elements.” Assay results from the initial three holes at Deep Fox are outlined in Table 1. Analytical techniques (assays by Actlabs Ltd.), sample prepa...