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Carbonatite Complex Enriched in REE's
Discovered At Eden Lake, Manitoba, Program Underway
June 5, 2003
TSX Venture REM
Rare Earth Metals Corp. is
pleased to report the results of a preliminary surface exploration program
carried out at the Company's Eden Lake Project in Manitoba, Canada. The Eden
Lake project is located 35 km northwest of Leaf Rapids, Manitoba. The program
was completed under the direction of Dr. Hamid Mumin, Associate Professor
(Mining & Exploration Geology), Brandon University (Qualified Person).
Reconnaissance and detailed geological mapping, sampling and petrographic study,
led to the discovery of an extensive area (at least 7 square kilometers) of
hydrothermal and magmatic stock-work veining and breccia exposed in outcrop.
Carbonatite dikes and plugs have been discovered at three locations. The
property geology is characteristic of a large carbonatite complex. This is the
first discovery of its kind in the Province of Manitoba.
A surprising variety of mineralization styles were encountered within the Eden
Lake carbonatite complex, and several of these may have economic potential
including;1) high-grade veins, 2) the carbonatite bodies, 3) fenitic selvages of
the carbonatite bodies, and 4) altered syenite and other host rocks.
The Eden Lake carbonatite complex is of particular interest due to its rare
earth element (REE) enrichments over an extensive area. The elements F, Ba, Sr,
U, Th, Sc, Y, plus REEs (La, Ce, Sm, Nd, Pr, Eu, Gd, Dy, Tb, Tm, Er, Yb and Lu)
are variably enriched throughout the complex. Rare Earth enriched minerals
identified in petrographic studies include Strontium-REE-apatite, britholite,
allanite and REE mineral inclusions in andradite garnet. Significant REE
enrichments occur in all hydrothermally metasomatized rocks. The highest REE
concentrations encountered to date are in the carbonatite dikes (up to 1.6 %
total REE, 9764 ppm Sr and 745 ppm Y) and in hydrothermal REE-rich veins (up to
13.8 % total REE, 5307 ppm Y and 5465 ppm Th + U).
The discovery of Heavy Rare Earths (Eu-Lu) is especially encouraging as they are
typically more valuable than Light Rare Earths. For example, Europium Oxide,
over the past decade, sold between $250 and $1700 /kg according to the USGS 2002
Report on Commodities. The USGS estimates the value of refined rare earths
consumed in the United States in 2002 at more than $1 billion dollars.
Approximately 80% of North America's REEs are sourced from China.
The world's largest REE deposits are those at Bayan Obo in China, with grades of
3 to 6% REO(Rare Earth Oxide) and reserves of at least 40 million metric tons,
and at Mountain Pass in California with a grade averaging 9.3% REO and reserves
of 20 million metric tons (USGS Fact Sheet fs087-02).
Approximately 140 samples were collected and analyzed at ACME Analytical
Services Laboratories Ltd., in Vancouver, for 43 elements by inductively coupled
plasma-mass spectrometry (ICP-MS), utilizing a lithium borate fusion technique
for enhanced accuracy in REE detection.
The second phase of exploration at Eden Lake, under the direction of Dr. Mumin,
has commenced (June 2nd 2003) and will focus on; a) locating core carbonatite
intrusions associated with the complex, b) locating high-grade veins and the
source of the high-grade mineralization, and c) identifying any other
significant mineralization within the complex. This program will continue
exploration with detailed and reconnaissance mapping and sampling and an
exploration bio-geochemical survey for "blind mineralization" in overburden
covered valleys between the outcropping ridges.
The company wishes to acknowledge the support it received from the Manitoba
Mineral Exploration Assistance Program (MEAP) which resulted in an expanded
program at Eden Lake. Dr. Mumin's involvement with the Eden Lake Project was
in-part due to his research into Iron-Oxide-Copper-Gold (Olympic Dam) deposits
and a scoping study of the Province of Manitoba he has initiated. Discussions
with many members of the Manitoba Geological Survey were instrumental in Dr.
Mumin selecting Eden Lake as a priority target for the initial IOCG (Olympic
Dam) scoping study. John Camier M.Sc. was an invaluable partner in completing
the fieldwork and logistics for this project and is an active participant in the
program now underway.
Rare Earth Metals Corp. is a mineral exploration company actively exploring for
new gold deposits at Assean Lake, Manitoba and at the Longstreet Mine Project in
Nevada, and continues the search for specialty metal and Iron-Oxide-Copper-Gold
deposits in the Eden Lake area of Manitoba.
On behalf of the Board,
John Roozendaal
President
For more information contact our office toll free at
1 866 816 0118 or visit our website
www.rareearthmetals.net
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