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Thu, April 19, 2012 Rare Earth Metals Reports 6.17% C-Graphite from Manitouwadge Property
April 19, 2012 08:30 ET
Rare Earth Metals Reports 6.17% C-Graphite from Manitouwadge Property
THUNDER BAY, ONTARIO--(Marketwire - April 19, 2012) - Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA)(OTCQX:RAREF)(PINKSHEETS:RAREF) is pleased to announce assay results from sampling completed during a recent due diligence prospecting program on the Manitouwadge Graphite Property. The property consists of 128 staked claim units totaling 2072 hectares, located approximately 30 kilometers north of the town of Manitouwadge in northwestern Ontario. RA owns a 100% interest in the claims.
A total of six surface grab samples were taken during the prospecting program and assay values range from 0.2% to 6.17% graphite. The samples were collected from an area 900 meters by 300 meters in size and encompass the Thomas Lake Road Graphite Occurrence. Sampling at the Thomas Lake Road showing resulted in an assay of 3.62% C-Graphite and the highest value of 6.17% C-Graphite came from a possible parallel zone located 900 meters to the west. The historic Thomas Lake Road Occurrence is described as a 4 meter wide zone of flake graphite, locally up to 20% graphite and hosted by strongly metamorphosed, granulite facies sediments (ref. OGS Open File Report 5889).
The recent sampling has identified graphite mineralization along a minimum 900 meter trend coincident with two or more airborne electromagnetic (AEM) zones located within an intense magnetic low. These geophysical features were defined using information from a 1989 airborne geophysical survey completed by Dighem Surveys for Noranda Exploration Services. The new graphite showings are coincident with a 4 kilometer long AEM trend, however, the full relationship of the graphite and the airborne "conductors" remains to be ascertained. Graphite is a highly conductive mineral; however, the electromagnetic signature depends on the zones' thickness, purity and continuity of the graphite minerals. A number of other similar AEM "conductors" in the area have also been staked and will be evaluated for their graphite potential.
Additional work will be done on the prospect samples to quantify the flake size of the higher grade samples. Rare Earth Metals is also planning an exploration program which will help determine the extent of the flake graphite mineralization. An initial grassroots program consisting of geophysics/ trenching/sampling on the Thomas Lake Road Graphitic horizon and prospecting of the AEM "conductors" will be under way by early May.
In summary, the Manitouwadge Graphite Property has a number of positive elements including:
- a known, but little worked, flake graphite horizon(s)
- three new graphite occurrences with assays up to 6.17% C-Graphite from recent due diligence prospecting
- a number of untested AEM "conductors", several of which are proximal to the old and newly discovered graphite showings
- a favourable geological setting consisting of recrystallized meta-sediments which are a common host to most flake graphite deposits
- excellent location and infrastructure
Michael Stares, President and CEO of Rare Earth Metals states, "This initial sampling program has generated some impressive graphite grades and has identified an extensive horizon of graphite mineralization within the recently staked claims. We look forward to completing the proposed field work and begin to fully evaluate the potential of this 100% owned project."
The surface grab samples described in this news release are selective by nature and are unlikely to represent average grades on the property. The samples were delivered to Actlabs sample prep facility in Thunder Bay, ON., where they were prepped and analyzed for their organic carbon (graphite) content using internal lab QA/QC protocols.
Reg Felix, P.Geo., is a qualified person as defined in National Instrument 43-101, and has reviewed and approved the technical information forming the basis for release.
About Rare Earth Metals Inc.
Rare Earth Metals is a well-funded company with a focus on exploring for Rare Earth Element deposits. The Company's shares are listed on the TSX-V exchange under the symbol RA and the OTCQX exchange under the symbol RAREF. The Company presently has two advanced projects in Ontario and Newfoundland and Labrador, both exhibiting multi element potential (REEs, Niobium, Beryllium, Zirconium and Iron Ore) and proximity to available infrastructure. Its flagship properties are the Clay-Howells Prospect and the Red Wine Project. The Company has recently acquired additional properties in the Coldwell Complex near Marathon, Ontario and the Lavergne-Springer REE Prospect near Sturgeon Falls, Ontario. Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under the Company's profile at [ www.sedar.com ]. For more information please visit the Rare Earth Metals web site at [ www.rareearthmetals.ca ].
ON BEHALF OF THE BOARD OF DIRECTORS OF RARE EARTH METALS INC.:
Michael Stares, President and CEO
This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at [ www.sedar.com ].
Company information distributed through the Market Access Program is based upon information that Standard & Poor's considers to be reliable, but neither Standard & Poor's nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
