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Rare Earth Metals Announces Eden Lake Drill Results
5/19/06
Rare Earth Metals Corp., (REM – TSX.V), May 19, 2006 (the “Company”) reports the
results of the winter drill program at its Rare Earth Elements property at Eden
Lake, Manitoba. Six holes totaling 765 meters were drilled into the northeastern
half of an 8 square km zone of intensely altered rocks.
Carbonatite veins and lenses with rare earth-bearing apatite were intersected in
four of the holes.
Multiple veins of apatite-bearing carbonatite occur with a zone of carbonate
altered rocks that is in excess of 50 m of core length in hole EL-06-03. These
drill holes are interpreted to have intersected the uppermost portion or the
margin of a carbonatite body. Although no economic grades of mineralization were
intersected, the 2006 drill program confirms that carbonatite is more common in
the topographically low areas of the property and contains rare earth-bearing
apatite. Five of the holes intersected altered (fenitized) rock, which is a
common alteration at the edges of carbonatite masses.
This drill program was able to test 5 of the 10 anomalies identified from the
exploration work done to date. The drill results provide a framework for further
evaluation of the vegetation, soil and rock data collected over the property.
This review will help in the planning the next phase of exploration.
The drill results establish that the carbonatite magma intruded late in the
history of the Eden Lake igneous complex. The mineralization discovered to date,
represents the upper portions of a carbonatite magmatic system. Dr George Gale
VP Exploration states “Evidence that the mineralization is late in the
geological history of the area is encouraging as an early carbonatite intrusion
is more likely to have been replaced by later phases of the complex whereas a
later intrusion is more likely to be intact.
Future exploration for large carbonatite bodies in this area will be focused
beneath and around the apatite-bearing carbonatite veins discovered in DH-EL-03
and DH-EL-04. The southwestern portions of the property are largely hidden
beneath widespread clay overburden. This area of the property is of particular
interest as large carbonatite bodies may sub-crop beneath this cover.”
The company wishes to emphasize that this is the first drill program on a very
large property and it has provided important and valuable information that will
be used to further evaluate the property and guide additional exploration.
Further, it is important to note that the Eden Lake property is considered by
its consultants to represent the carbonatite end member of the 'Iron Oxide
Copper Gold' type of deposit. These deposits are typically large magma-related
hydrothermal systems. The large aerial extent of the hydrothermal alteration in
the Eden Lake area suggests that there may be a large body associated with this
alteration system.
The technical information in this release has been
reviewed by Dr. George Gale, P Eng. Qualified Person.
On behalf of the Board of Directors,
John Roozendaal B.Sc.
President, Director
Rare Earth Metals Corp.
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