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Rare Earth Metals Corp Updates Copper-Zinc VMS Exploration Progress,
Snow Lake, Manitoba
10/12/06
Rare Earth Metals Corp (TSX.V: REM) October 12, 2006 (the "Company") is pleased
to update the Company’s progress exploring for copper-zinc deposits in the Flin
Flon-Snow Lake VMS belt in Manitoba, Canada.
The summer 2006 exploration program focused on three of the seven distinct
property blocks held by Rare Earth Metals Corp in the Flin Flon-Snow Lake VMS
belt: Sails Lake, Reed Lake and the Nine Seven Zone.
Sails Lake consists of 8 claims covering 19 square kilometers and is located
approximately 30 km from the mining community of Snow Lake; Reed Lake consists
of 11 claims covering 20 square kilometers and is located 75 km by road from
Snow Lake; and the Nine Seven Zone consists of 8 claims covering 13 square
kilometers and is 80 km by road from Snow lake.
The target for the Snow Lake Copper Zinc Project is the discovery of a 5 million
tonne Copper Zinc deposit in the eastern or Snow Lake region of the belt. The
Flin Flon-Snow Lake VMS belt has yielded 24 producing mines averaging
approximately 5 million tonnes and grading approximately 2% copper and 4 % zinc.
(http://www.rareearthmetals.net/prop-reedlake.html)
Vice-President of Exploration, Dr. George Gale, P. Eng., states. “The summer
2006 program was designed to provide the Company’s geological field team the
opportunity to closely examine these three claim blocks and focus on specific
areas to determine their potential to contain copper-zinc rich Volcanogenic
Massive Sulphide (VMS) type deposits.”
The Sails Lake Project
Sails Lake was optioned because previous exploration, which targeted gold
mineralization on the property, identified hydrothermal alteration commonly
associate d with VMS type mineral deposits. An airborne SPECTREM survey by HBED
also revealed a number of anomalies that had not been previously investigated.
This summer’s Sails Lake project had four main objectives: Investigate known
mineral occurrences identified in the government Mineral Deposit reports and in
assessment files that chronicle previous exploration work; determine which of
the occurrences were related to volcanogenic massive sulphide deposits (VMS);
map the areas around the VMS type alteration to determine its geological
setting; and collect soil samples for geochemical studies along favorable
strata.
Two of eight mineral occurrences investigated at Sails Lake exhibited strong VMS
characteristics. The two occurrences are adjacent to a major linear feature that
conforms to both a SPECTREM anomaly and rock strata. These occurrences were
found to contain iron, copper- and/or zinc-bearing sulphide minerals. Rock
exposures near the largest occurrence contain chemical sedimentary rocks (exhalites)
that are typical of those associate d w ith, and occurring on top of, VMS
mineralization. The remaining occurrence is exposed in a small shallow trench in
a swamp.
Detailed mapping of the rocks immediately north of the two mineralized zones
revealed that they are predominantly layered mafic volcanic rocks and not
intrusions as previously suggested. These rock units are ‘right-way-up’ and any
associated extensive alteration zone will occur in the area south of the mineral
occurrences that is now covered by an extensive swamp. The airborne anomalies
occur at the southern margin of, or just within this layered sequence, which is
significant as VMS deposits commonly occur at contacts where there are major
changes in volcanic rock types. A previous Induced Polarization survey
identified a conductive unit in the swamp approximately 50 m south of the known
occurrences and it also parallels layering within the layered mafic rocks.
Additional grid lines were established in the vicinity of the VMS occurrences
and an untested airborne conductor. 125 soil samples were collected at 25 m
intervals along lines spaced 100 m apart to determine if there are zones of
metal enrichments along the length of the conductive unit.
The soil analytical data has recently been received and is being interpreted. It
is apparent from the raw data and initial interpretation, that there are two
areas along the conductor with highly anomalous values in Cu, Zn, Ni, Pb and
other elements. These data suggest that there are base metal-rich zones along
this conductive unit and mineralized horizon.
This summer’s program confirmed the presence of two VMS occurrences on the
relatively small portion of the property investigated and established that the
geology is favourable for hosting VMS mineralization.
The Reed Lake Project :
The Reed Lake claim group was the first VMS property acquired by the company in
early 2005. Earlier geochemical studies of exhalites and rhyolitic rocks from
two holes put down on SPECTREM and ground electromagnetic conductors on the Reed
1 claim indicated that the area was underlain by favourable geology. It also
showed that these rocks are not only altered, but also contain pathfinder
elements commonly associated with VMS deposits. Extensively altered rhyolite
immediately below the sulphide-bearing conductor has not been drilled and is
highly prospective. The remainder of the project area is considered to have
additional VMS potential due to the presence of other drill intersections of VMS
type mineralization, which occur in the western part of the property. In
addition, the property partly surrounds, and contains rocks similar to those
found at the Freebeth VMS zone, which is owned by HudBay Minerals Inc.
The objective of the 2006 summer program at Reed Lake was to establish the
presence of base metal anomalies associated with the Reed 7, Tower and Reed 1
conductors.
These conductors vary in length from a kilometer to several kilometers and so it
is necessary to target the specific portions of the conductors having an
associated metal enrichment to increase the potential of intersecting economic
mineralization at an early stage of exploration. The Company conducted a
successful orientation geochemical survey over a portion of the Reed 7 claim in
2005. These data identified anomalous zinc in soil over a 2 km long conductor,
which was previously investigated with one drill hole that intersected ‘near
solid sulphides’ with minor zinc mineralization. In 2006, soil samples were
collected along the length of this conductor.
At the ‘Tower Anomaly,’ a 2005 orientation survey revealed a multi-sample Au
anomaly in an area where there was an untested electromagnetic anomaly. In 2006
soil samples were collected over a 600 x 400 m grid as anomalous gold is
commonly present at the edge of VMS deposits.
A 2005 soil geochemical survey on the Reed 1 claim revealed moderate to strong
zinc anomalies in peat immediately north of the undrilled portion of the
conductor. Additional samples could not be collected in 2006 in this area
because of high water levels on Reed Lake .
Each of these geochemical surveys targeted known geophysical conductors in
volcanic rocks that underlie the flat-lying limestones. Samples have been
prepared and submitted for analyses. The analytical data received to date
indicate the existence of base metal anomalies on both the ‘Tower Anomaly’ and
the Reed 7 geophysical targets.
The Nine Seven Zone Project
The Nine Seven Zone is located approximately 5 km south of the Paleozoic
limestone – volcanic rock contact and approximately 5 km southwest of the Reed
Project. A number of geophysical conductors occur within a 3 km long unit of
felsic and mafic volcanic rocks that occur beneath approximately 30 m of
flat-lying limestone. VMS type mineralization with low values in copper and zinc
were identified in four holes drilled at two sites in 1974. Drill cores from two
of the anomalies are stored in the Manitoba Government core library. These were
sampled and analyzed for pathfinder elements that occur in association with base
metal massive sulphides. The data indicates that concentrations of base metals
may occur along these same horizons and it is possible that the bore holes may
have intersected the margins of a VMS mineralized system.
The summer 2006 geochemical program targeted geophysical anomalies discovered in
historical data sets, which were compiled and researched over the winter from
technical reports for the area. The Nine Seven zone was the last property to be
sampled this field season and the results of the program are pending. The
program targeted geophysical anomalies in the dry accessible portions of the
claims.
Dr. Gale says “Results from the Reed 7, Tower and Nine Seven sites will be used
to formulate a contemplated 2006-2007 winter drill program. As well, we are
investigating several high resolution airborne geophysical methods to help
refine priority targets for drilling, identify new targets and to assist
preparations for geological mapping of areas not reconnoitered this summer.”
The Company is investigating additional opportunities to expand our existing
land package in the prolific Flin Flon –Snow Lake VMS Belt.
All technical information in this release has been reviewed by Dr. George Gale,
P.Eng, Vice President of Exploration, Rare Earth Metals Corp.
Rare Earth Metals Corp is acquiring, exploring and developing copper-zinc
properties in the Flin Flon-Snow Lake VMS Belt. The Company’s other projects
include the Lynn Lake Gabbros nickel-copper properties in Lynn Lake Nickel Belt,
the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite
Complex, Specialty Metals property. All properties are located in the mining
friendly province of Manitoba , Canada .
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal,
President,
For more information call (604) 986-2020 or Toll Free: 1-866-816-0118 or view
our website www.RareEarthMetals.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this news release.
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