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Search Minerals Announces Ten New Foxtrot-like REE Prospects in 64 km-long Mineralized Belt in SE Labrador
TORONTO , Oct. 30, 2013 /CNW/ - Search Minerals Inc. ("Search" or the "Company") (...
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Oct. 30, 2013 /CNW/ - Search Minerals Inc. (\"Search\" or the \"Company\") (TSXV: SMY) and its wholly-owned subsidiary, Alterra Resources Inc. (\"Alterra\") are pleased to announce the discovery of ten new Prospects in the\n Port Hope Simpson Rare Earth Element (\"REE\") District in SE Labrador, with mineralization similar to that at the\n Company's Foxtrot Project (\"Foxtrot\") (the Company's updated Preliminary Economic Assessment (\"PEA\") for the\n Foxtrot Project was filed on SEDAR in May 2013 and is available at www.sedar.com and on the Company's website). The new Prospects, Coastal Fox, Wiley Fox, Foxy Vixen, Fox Hound, Outfoxed, Jumping Fox,\n Awesome Fox, Fox Valley, Blackwater Fox and Fox Meadow, along with the four previously announced Foxtrot-like Prospects, Fox Pond, Foxy Lady, Fox Run and Fleet Fox, all occur within the Fox Harbour volcanic belt, the host of the\n Foxtrot REE Deposit.\n\n\nSearch targeted these 14 Prospects, as well as additional targets with\n similar geophysical signatures and geology, in the Company's 2013\n exploration program. These Prospects occur in the Fox Harbour volcanic\n belt, which has been traced for 64 km between St. Lewis and Port Hope\n Simpson, Labrador (see Figure 1).\n\n\nStephen Keith, President and Chief Executive Officer of the Company,\n stated, \"We are very pleased with the continued positive results we\n have seen from the Fox Harbour Belt.  Although our 2013 exploration\n budget was limited, we were able to confirm the presence of 14 targets\n with known REE mineralization within the District. These new Prospects,\n together with our flagship Foxtrot Project, truly illustrate the\n exceptional nature of this region, located in a safe jurisdiction, near\n deep water and infrastructure, all within trucking distance of one\n another. This is a region of significance for REE development—Foxtrot\n and the Fox Harbour volcanic belt fit perfectly into the Company's new\n strategy of focusing on critical metals.\"\n\n\nHIGHLIGHTS\n\n\nTen new REE Prospects (Coastal Fox, Wiley Fox, Foxy Vixen, Fox Hound,\n Outfoxed, Jumping Fox, Awesome Fox, Fox Valley, Blackwater Fox and Fox\n Meadow), along with four previously announced Prospects (Fox Pond, Foxy\n Lady, Fleet Fox and Fox Run), exhibit Foxtrot-like REE mineralization,\n grades and host...