Business
Search Minerals commissions Preliminary Economic Assessment for the Foxtrot Project
VANCOUVER, Feb. 29, 2012 /CNW/ - Search Minerals Inc. ("Search" or the "Company") (TSXV: S...
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Feb. 29, 2012 /CNW/ - Search Minerals Inc. (\"Search\" or the \"Company\") (TSXV: SMY) and its wholly-owned subsidiary, Alterra Resources Inc., have\n commissioned Roscoe Postle & Associates (\"RPA\") to proceed with their\n recommendation to complete a Preliminary Economic Assessment (\"PEA\"),\n as described in the NI 43-101 Technical Report on the Foxtrot Project,\n filed on February 8, 2012.  The NI 43-101 provided Search with the\n following resource estimate which was outlined in the table:\n\n\nThis resource estimate is based on a cut-off grade of 130 ppm Dy; see\n the Search news release (Feb. 12, 2012) for additional details\n\n\n\n\n\n \n\n\nTonnes\n\n\nDy (ppm)\n\n\nNd (ppm)\n\n\nY(ppm)\n\n\nHREE+Y (%)\n\n\nTREE+Y(%)\n\n\nIndicated\n\n\n3,410,000\n\n\n189\n\n\n1442\n\n\n1059\n\n\n0.18\n\n\n0.89\n\n\nInferred\n\n\n5,850,000\n\n\n181\n\n\n1277\n\n\n1016\n\n\n0.17\n\n\n0.80\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nTonnes\n\n\nDy2O3\n(ppm)\n\n\nNd2O3\n(ppm)\n\n\nY2O3 (ppm)\n\n\nHREO+Y\n(%)\n\n\nTREO+Y(%)\n\n\nIndicated\n\n\n3,410,000\n\n\n218\n\n\n1687\n\n\n1345\n\n\n0.21\n\n\n1.07\n\n\nInferred\n\n\n5,850,000\n\n\n208\n\n\n1494\n\n\n1290\n\n\n0.21\n\n\n0.96\n\n\nJim Clucas, President and CEO of Search, states, \"We look forward to\n receiving the PEA which should enable third parties to compare Search\n with others in the REE space. It will also provide management with a\n blueprint for the development of the FOXTROT project. The summary\n report will be available  mid March  with a detailed report to follow.\"\n\n\nQualified Person:Dr. Randy Miller, Ph.D., P.Geo, is the Company's Vice President\n Exploration and Qualified Person for the purposes of NI 43-101. The\n company will endeavour to meet high standards of integrity,\n transparency, and consistency in reporting technical content, including\n geological and assay (e.g., REE) data.\n\n\nAbout Search:Search Minerals Inc. (TSXV: SMY) is a TSX Venture Exchange listed\n company, headquartered in Vancouver, B.C. Search is the discoverer of\n the Port Hope Simpson REE District, a highly prospective light and\n heavy REE belt located in southeast Labrador where the company controls\n a dominant land position in a belt 135km long and up to 12km wide.  In addition...