Business
Search Minerals Announces Successful 2019 Exploration Season for Critical Rare Earth Elements in SE Labrador, Canada
VANCOUVER, British Columbia, Sept. 18, 2019 (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, Sept. 18, 2019 (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 preliminary results of its 2019 CREE (“Critical Rare Earth Element”) exploration program in SE Labrador, Canada. UAV (drone) magnetic surveys were completed on the FOX MEADOW property, the AWESOME FOX/NINETEEN FOX area and the DEEP FOX area. Channel sampling programs were also completed on the FOX MEADOW, DEEP FOX and SILVER FOX properties. A LIDAR survey has been scheduled for the DEEP FOX property but has not been completed. Assays for channel samples are in progress and will be reported at a later date. HIGHLIGHTS OF THE 2019 CREE EXPLORATION PROGRAM FOX MEADOW magnetic survey and channel sampling verifies that CREE mineralization is up to 124m wide and at least 650m long; AWESOME FOX/NINETEEN FOX magnetic survey outlines additional targets for a future trenching/channelling program; DEEP FOX area magnetic survey outlines surface mineralization at the DEEP FOX property and enhanced anomalies at the nearby FOXY LADY and FOX POND prospects; Three additional channels at DEEP FOX provide data to better outline the surface mineralization for a resource estimate; Four new channels at SILVER FOX have better defined the 640m long mineralized zone. Greg Andrews, President/CEO, states; “The 2019 summer exploration program delivered very positive results that continue to expand our possibilities for future development in our 70km District. Search has been working in the District since 2009, our knowledge and experience allows us to successfully find and evaluate additional CREE prospects in the District. “Search Minerals is well positioned to be a leader in the support of a North American Rare Earth Supply Chain. We have responded to various government agencies requesting information about Search Minerals and how to accelerate our entry into the REE supply chain in North America. We believe our key strengths are 1) district scale opportunity, 2) scalable and low capital/operating costs, 3) proprietary processing technology, which has produced a 99% high purity mixed rare earth oxide concentrate, 4) existing infrastructure including the Trans Labrador highway through the District, all season deep sea p...