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Search Minerals Phase III Drilling Extends Mineralization to 450m at the Foxtrot REE-Zr-Y-Nb Project
VANCOUVER, April 27, 2012 /CNW/ - Search Minerals Inc. ("Search" or the "Company") (TSXV: ...
About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, April 27, 2012 /CNW/ - Search Minerals Inc. (\"Search\" or the \"Company\") (TSXV: SMY) and its wholly-owned subsidiary, Alterra Resources Inc., announce the\n completion and positive results from Phase III drilling at the Foxtrot Project (100% owned) in the Port Hope Simpson REE District, SE Labrador. Assay\n results from all diamond drill holes have been received and interpreted\n and are currently being integrated into an updated resource estimate.\n\n\nHighlights:\n\n\nEvery drill hole intersected REE-Zr-Y-Nb mineralization, ranging in true\n thickness from 5-25m;\n\nPhase III mineralization ranges up to 1.00% TREE (1.12% TREE+Y), 7.9%\n HREE (17.4% HREE+Y) including 209 ppm Dy (241 ppm Dy2O3) over 16.5 (true thickness);\n\nMineralization extends from surface to 450m depth at which level it is\n still open to depth;\n\nCurrent resource estimate of 9,260,000 tonnes is expected to increase\n significantly and an updated resource estimate has been commissioned to\n Roscoe Postle and Associates; and\n\nFoxtrot Project is located 9 km from ice-free deep-water port and 0.5km\n from all season gravel road.\n\n\nJim Clucas, President and CEO of Search Minerals notes \"We are delighted\n to report the extension of REE-Zr-Y-Nb mineralization, the\n characteristics of which remain constant from 200m depth to 450m depth.\n This will significantly expand our resource at the Foxtrot Project. \n The 9,260,000 tonnes resource estimate was based on a cut-off of 130ppm\n Dysprosium, and the deeper drilling supports the expectation that\n Dysprosium will be the highest value contributor to the economics of\n the project.\"\n\n\nThis resource estimate is based on a cut-off grade of 130 ppm Dy; see\n Search news release Feb. 12, 2012 for additional details on the\n following resource estimate to 200m depth:\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 (ppm)\n\n\nNd2O3 (ppm)\n\n\nY2O3 (ppm)\n\n\nHREO+Y (%)\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\...