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Search Minerals discovers two further REE-Zr-Y-Nb prospects in the Port Hope Simpson REE District, SE Labrador
VANCOUVER, March 20, 2012 /CNW/ - Search Minerals Inc. ("Search" or the "Company") (TSX...
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\n\nVANCOUVER, March 20, 2012 /CNW/ - Search Minerals Inc. (\"Search\" or the \"Company\") (TSXV: SMY) and its wholly-owned subsidiary, Alterra Resources Inc., are pleased to\n announce the discovery of the Fox Pond and Foxy Lady rare earth element (REE)-Zr-Y-Nb prospects in the Port Hope Simpson REE\n District in SE Labrador. Encouraging analyses of several grab samples\n and channel samples from these prospects show concentrations of REE,\n Nb, Zr and Y equal to or greater than that of the resource at the\n Foxtrot Project\n\n\nHighlights: \n\n\nChannel samples from Fox Pond and Foxy Lady contain 236 ppm Dy over\n 2.49m, and 197 ppm Dy over 5.16m (including 232 ppm Dy over 1.36m),\n respectively;\n\n\nGrab samples from Fox Pond and Foxy Lady contain 1.70% TREE+Y, 347 ppm\n Dy (Fox Pond), 1.23% TREE+Y and 313 ppm Dy (Foxy Lady) respectively;\n\n\nFox Pond and Foxy Lady prospects occur 8 km along strike from the\n Foxtrot Project (9.26 million tonne resource).\n\n\nThe Fox Pond prospect has 7 channels, totalling 53.28m, and the Foxy Lady prospect has 4 channels, totalling 39.09m. The Fox Pond and Foxy Lady prospects occur within the Fox Harbour mineralized belt approximately 8\n km along strike to the east of the Foxtrot Project. They are located\n near the port of St. Lewis (see figure 1 below), within 2 km of\n tidewater and 1km of the road network. The rare earth mineralization is\n found in strata-bound, fine-grained, felsic volcanic units that are\n correlated to the Foxtrot Project felsic volcanic sequence and for\n which Search recently released an initial NI 43-101 resource estimate.\n (see Search's February 13, 2012 news release).\n\n\nInitial exploration, including regional mapping, grab samples, and\n channel sampling, at Fox Pond and Foxy Lady, yield similar rock types, mineralization styles, and REE values to\n those at the Foxtrot Project.\n\n\nWeighted averages from Fox Pond channel FPC-11-06 assayed 236 ppm Dy, 1282 ppm Y, 13,276 ppm Zr, 1998\n ppm Nd, and 1.18% TREE+Y over 2.49 m. Weighted averages from Foxy Lady channel FLC-11-02 assayed 197 ppm Dy, 1016 ppm Y, 12,993 ppm Zr, 1377\n ppm Nd, and 0.81% TREE+Y over 5.16 m. Table 1 highlights assay data\n from 2 channels (4 intervals) and 2 hand samples collected from the Fox Pond and Foxy Lady prospects during the 2011 field season. Analytical techni...