VANCOUVER, April 28 /CNW/ - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV: TSM)
(Frankfurt:T61) (Pinksheets: TASXF). Mr Mark Saxon, President & CEO, advises that following the encouraging
results achieved thus far in the Phase 3 drilling program at Norra
Karr, Sweden, the Board of Directors has approved an extension to the
program with an additional 11 holes for a total of 33 drillholes.
This additional drilling will be used to better define internal
boundaries to mineralization, plus deepen holes that were finished in
mineralization during the Phase 1 and 2 programs completed in
2009/2010. The data from the Phase 3 program will contribute to a
re-calculation of mineral resources at Norra Karr, with the aim of
raising resources from inferred to indicated status, and defining
further resources at depth.
The Norra Karr project is characterized by containing the highest
proportion of the high value HREO of all advanced projects in the
Western World, as evaluated by independent industry analysts at
Technology Metals Research LLC (www.techmetalsresearch.com), with HREO as a percentage of TREO exceeding 50%. Of particular note
are the high contribution of Y2O3 (yttrium oxide) and Dy2O3 (dysprosium oxide), both metals with strong demand and few potential
sources outside of China.
"The positive results reported thus far from the Phase 3 drilling
program, and the thick intersections of mineralized intrusion we are
seeing in drill core have encouraged our technical team to propose a
continuation to the drilling program," said Mark Saxon, Tasman's
President & CEO. "A request to local authorities to modify our
drilling permit was met positively, and we will therefore continue
drilling for approximately 6 weeks."
Norra Karr is located in southern Sweden, 300km SW of the capital
Stockholm and lies in mixed farming and forestry land. The site is
well serviced by power, roads and water allowing all year round access,
plus a local skilled community. For an overview of the infrastructure
and resource at site, please see a recent 3D fly through video at http://www.tasmanmetals.com/i/videos/video1/index.html.
About Tasman Metals Ltd.
Tasman Metals Ltd is a Canadian mineral exploration and development
company focused on Rare Earth Elements (REE's) in the European region
and is listed on the TSX Venture Exchange under the symbol "TSM". REE
demand is increasing, due to the metals unique properties that make
them essential for high technology and environmentally-beneficial
applications. Since over 95% of REE supply is sourced from China, the
European Union is actively supporting policy to promote domestic supply
of REE's, to ensure the security of high-tech industry. Tasman's
exploration portfolio is uniquely placed, with the capacity to deliver
"high-tech" metals from politically stable, mining friendly
jurisdictions with developed infrastructure.
The Company's Norra Karr project in Sweden is one of the most
significant heavy REE resources in the world, and the only NI43-101
compliant REE resource in mainland Europe. With a TREO (total rare
earth oxide) cut off of 0.4%, the Inferred Mineral Resource comprises
60.5 million tonnes grading 0.54% TREO and 1.72% ZrO2 (zirconium
oxide), with 53.7% of the TREO being the higher value HREO (heavy rare
earth oxide). The resource is unusually low in radioactive metals
relative to peer projects, with less than 15 ppm each of uranium and
For more information regarding rare earth elements, see the Rare Metal
Blog at www.raremetalblog.com or Resource Stock Digest at http://strategicmetalstocks.resourcestockdigest.com/.
On behalf of the Board,
Mark Saxon, President & CEO
Samples submitted by Tasman Metals Ltd were analyzed by the ME-MS81
technique by ALS Chemex Ltd's laboratories in Pitea, Sweden and
Vancouver, Canada, where duplicates, repeats, blanks and known
standards were inserted according to standard industry practice. Where
over-range for ME-MS81, Zr was determined using the ME-XRF10
technique. The qualified person for the Company's exploration
projects, Mark Saxon, President and Chief Executive Officer of Tasman
and a member of the Australasian Institute of Mining and Metallurgy and
Australian Institute of Geoscientists, has reviewed and verified the
contents of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange),
nor the Frankfurt Stock Exchange accepts responsibility for the
adequacy or accuracy of this news release.
Forward Looking Statements. This Company news release contains certain "forward-looking" statements
and information relating to the Company that are based on the beliefs
of the Company's management as well as assumptions made by and
information currently available to the Company's management. Such
statements reflect the current risks, uncertainties and assumptions
related to certain factors including, without limitations, competitive
factors, general economic conditions, customer relations, relationships
with vendors and strategic partners, the interest rate environment,
governmental regulation and supervision, seasonality, technological
change, changes in industry practices, and one-time events. Should any
one or more of these risks or uncertainties materialize, or should any
underlying assumptions prove incorrect, actual results may vary
materially from those described herein.
SOURCE Tasman Metals Ltd.
For further information:
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058