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Rare Earth Metals Corp Announces Drill Program at Eden Lake,
REE-U Property, Manitoba
1/19/06
Rare Earth Metals Corp., (REM – TSX.V), January 19, 2006 (the “Company”) reports
that the first drill program at the Eden Lake, Rare Earth Elements (REE)
property in Manitoba is expected to begin in early February, 2006. Up to ten
targets will be drill tested at locations throughout the 8 square kilometer
area, where REE mineralization has been discovered. This mineralization has been
interpreted by outside consultants as the carbonatite end member of an Iron
Oxide Copper Gold (IOCG) deposit. This is the first discovery of its kind in the
Province of Manitoba .
The Eden Lake carbonatite complex is of particular interest due to its rare
earth element (REE) enrichments over an extensive area. The highest REE
concentrations encountered to date are in the carbonatite dikes with up to 1.6 %
total REE, and in hydrothermal REE-rich veins with grades up to 13.8 % total REE
plus Uranium values of up to 3,490 grams per tonne. Exploration of the Central
Zone has delineated two large and distinct zones of mineralization: 1) a zone
approximately 1 x 3 kilometers of REE-enriched apatite in carbonatite pods; and
2) a zone 0.3 x 2 kilometers of REE-rich britholite-allanite veins. Although
both of these zones are highly enriched in REE, the two mineralized zones have
distinctly different mineralogy.
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 Eden Lake claim block covers an area of approximately 28 square kilometers
and is located 35 kilometers from the mining community of Leaf Rapids, Manitoba
. The Company has an option to acquire a 100% interest in the Eden Lake Project.
The technical information in this release has been reviewed by Dr. George Gale,
P Eng. Qualified Person.
The TSX Venture exchange does not accept responsibility for the adequacy or
accuracy of this release.
On behalf of the Board of Directors,
John Roozendaal B.Sc.
President, Director
Rare Earth Metals Corp.
For more information about Rare Earth Metals Corp. please review the company’s
website www.RareEarthMetals.net
or speak with a Company representative toll free 866 816 0118 or locally at 604
986 2020 or by emailing
info@rareearthmetals.net
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