By Mark Weaver
TORONTO, Jan. 4 /CNW/ - Pele Mountain Resources (TSX-V:GEM) is a Canadian mineral exploration
and development company focused on the sustainable development of its
100% owned flagship Eco Ridge Mine Uranium and Rare Earth Elements
("REE") Project in Elliot Lake, Ontario. The vast uranium and REE
mineralization at Eco Ridge provides Pele investors with outstanding
leverage to these critical metals. Very shortly, Pele expects to
release an updated NI 43-101 resource estimate that will include both
uranium and Rare Earth Oxides ("REO") for the first time.
As the uranium market continues firming and extreme tightness in the REE
market persists, market prices for uranium and REE remain exceptionally
strong. Particularly, the uncertainty regarding long-term REE supplies
has led to a rush to develop REE resources outside of China. At
MoneyinMetals.com, we believe that Eco Ridge possesses strategic
advantages that may place it ahead of its competitors in the race to
bring these resources to production.
Eco Ridge lies within a proven mining camp with well-understood geology,
in-place infrastructure, and which has produced more than 300 million
pounds of uranium. Elliot Lake is the only Canadian mining camp to
reach commercial REO production and was once the primary source of
heavy REO in North America.
The goal is for Eco Ridge to be a uranium mine that would produce REO as
by-products. Therefore, it isn't wholly dependent on the increasingly
volatile REE market. Furthermore, Pele has reported good recoveries of
Yttrium & heavy REO that would be available in the uranium leach
solutions without additional mining or processing costs!
Eco Ridge can offer a secure and reliable REO source with minimal
geopolitical risk and with strong local support for project
Pele Mountain has invested considerable effort optimizing the mining,
processing, and waste management plans at Eco Ridge. Although, the
market environment may remain speculative with respect to uranium and
REE pricing, Pele Mountain is positioned to be a leader among the
emerging developers of these strategic metals.
Forward-Looking Statements: Some of the statements contained in the above article are forward‐looking statements and not statements of facts. Such statements are
based on publically available information contained in Pele Mountain
Resources' press releases or assumptions made from other publicly
available documents. Forward‐looking statements are subject to various risks, uncertainties and other
factors that could cause actual results to differ materially from
expected results. Readers must rely on their own evaluation of these
SOURCE Pele Mountain Resources
For further information:
For further information about Pele Mountain Resources, visit the Pele website at www.pelemountain.com or contact them directly at 800 315 7353, by email at email@example.com, and follow on Twitter at pele_mountain.