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Search Minerals announces three new Foxtrot-like REE Prospects in SE Labrador
TORONTO , June 20, 2013 /CNW/ - Search Minerals Inc. ("Search" or the "Company") (TS...
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, June 20, 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 three 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 revised Preliminary Economic Assessment (\"PEA\") for the Foxtrot Project has been filed on SEDAR and is available at www.sedar.com and on the Company's website). The new Prospects, Fleet Fox, Fox Run and Silver Fox, along with the\n two previously announced Foxtrot-like Prospects, Fox Pond and Foxy\n Lady, all occur within 10 km of the Foxtrot REE Deposit.\n\n\nSearch is targeting these five Prospects, as well as additional targets\n with similar geophysical signatures and geology, as exploration targets\n for the 2013 field season.\n\n\nStephen Keith, President and Chief Executive Officer of Search, stated,\n \"Search is the only junior exploration company to identify and control\n an entire REE District. Our District, located close to a road network\n and the port and airport facilities at St. Lewis, has the potential for\n multiple REE deposits. The new Prospects that we have identified,\n combined with our flagship Foxtrot Project, illustrate the long-term\n growth value of Search. Foxtrot anchors the District with a positive\n and robust PEA, with a focus on critical elements such as dysprosium,\n while our exceptional team continues to add new prospects that could\n deliver significant value.\"\n\n\nHIGHLIGHTS\n\n\nFleet Fox and Fox Run, along with previously announced Fox Pond and Foxy\n Lady, exhibit Foxtrot-like REE mineralization, grades and host rocks;\n Silver Fox contains lower heavy REE (\"HREE\") and higher light REE\n (\"LREE\") than Foxtrot.\n\nChannel samples give average values of:\n\n\n220 ppm dysprosium (\"Dy\") (252 ppm Dy2O3), 1158 ppm yttrium (\"Y\") (1471 ppm Y2O3), 1710 ppm neodymium (\"Nd\") (1995 ppm Nd2O3) over 3.64m at Fleet Fox; and\n\n\n215 ppm Dy (247 ppm Dy2O3), 1104 ppm Y (1402 ppm Y2O3) and 1714 ppm Nd (1995 ppm Nd2O3) over 5.08m at Fox Run.\n\n\nThe Foxtrot-like district-wide REE mineralization consists of the\n Foxtrot Deposit, five Foxtrot-like prospects and additional\n Foxtr...