HALIFAX, March 30, 2012 /CNW/ - Namibia Rare Earths Inc. ("Namibia Rare Earths" or the "Company") (TSX: NRE) is pleased to report that it has received results from the first 15 holes completed in the Area 4 resource drilling program on the Lofdal Rare Earth Project in northwestern Namibia (Figure 1). A total of 38 holes have been completed for approximately 4,500 meters including two large diameter core holes designed to obtain representative samples of the mineralized zone for metallurgical test purposes. Drill intercepts are highlighted by an intercept of 7 meters of 1.14% total rare earth oxides ("TREO") with 90.6% heavy rare earth ("HREE") enrichment. The resource program is on schedule for completion by the end of April with delivery of the NI 43-101 compliant mineral resource report in the third quarter of 2012. Recently completed geophysical surveys have delineated five new exploration targets and traced the main shear corridor from Area 4 for a strike length of 6.5 kilometers.
Results from these latest drill holes are confirming the continuity of the heavy rare earth enriched mineralization with similar grades and widths to previously reported results from Area 4. New results are highlighted by:
- 0.58% TREO over 15.00 meters with 91.2% HREE enrichment
(including 4.00% TREO over 1.00 meter with 98.5% HREE enrichment)
- 0.53% TREO over 12.00 meters with 68.5% HREE enrichment
(including 0.95% TREO over 3.00 meters with 88.3% HREE enrichment)
- 0.44% TREO over 28.00 meters with 74.2% HREE enrichment
(including 1.14% TREO over 7.00 meters with 90.6% HREE enrichment)
- 0.43% TREO over 9.41 meters with 90.7% HREE enrichment
(including 1.45% TREO over 1.00 meter with 98.7% HREE enrichment)
- 0.38% TREO over 12.41 meters with 70.7% HREE enrichment
(including 0.73% TREO over 1.46 meters with 88.4% HREE enrichment)
- 0.33% TREO over 20.00 meters with 70.4% HREE enrichment
(including 1.99% TREO over 1.00 meter with 90.3% HREE enrichment)
- 0.30% TREO over 19.25 meters with 82.7% HREE enrichment
(including 0.88% TREO over 2.00 meters with 97.1% HREE enrichment)
Intercept widths are reported as down the hole widths and are not necessarily true widths. Interpreted dips of the mineralized zones vary from 45 to 80 degrees and all holes were drilled at -55 degrees. A complete listing of all analytical results is provided in Table 1.
Don Burton, President of Namibia Rare Earths stated, "The objective of this initial resource drilling program is to test this 650 meter long portion of the zone from surface to a vertical depth of 60-75 meters. The deposit is clearly open to depth and the remaining 1,500 meters of drilling will be allocated to testing the zone to vertical depths of 100-150 meters. Visual examination of the two metallurgical test holes are extremely encouraging and will greatly assist in our understanding of distribution of the exceptional heavy rare earth enrichment in the zone for purposes of geological modeling. While the current focus is on delineation of an initial resource in Area 4, the potential to significantly expand this resource, to discover higher grade zones and to develop new deposits within the 200 km2 Lofdal carbonatite complex remain as fundamental value drivers for the Company. Recently completed geophysical surveys northeast of the drill area demonstrate the on-going exploration potential of Lofdal, with the delineation of two new high-priority targets along the main shear corridor extending from Area 4 and three secondary targets off the main shear corridor."
Resource Drilling Program
The mineral resource drilling program is being carried out on the Area 4 heavy rare earth enriched1 target where the 2011 exploration drilling program had delineated significant rare earth mineralization over a 650 meter strike length. The 6,000 meter drilling program will focus on the first 75 vertical meters of the zone with selected step back holes to 100-150 vertical meters. Drilling services are being provided by JGM Drilling and Exploration of Namibia. Down-hole geophysical surveys for rock density measurements have been completed on 16 drill holes to date by Gregory Symons Geophysics of Namibia.
These drill results and those previously released from Area 4 (Company press releases August 3, September 15 and December 5, 2011) have demonstrated that the zone exhibits exceptional heavy rare earth enrichment of 70 to 95% over drill widths of 4.0 to 28.0 meters with average grades of between 0.2 to 1.3% TREO. Within this zone there are higher grade intervals over drill widths of 0.35 to 6.0 meters with average grades of 1.0 to 6.2% TREO with up to 98% heavy rare earth enrichment.
The fifteen holes reported today are from five in-fill drill sections (Figure 2 and Table 1) and results from an additional four new sections together with ten step back holes from previously drilled sections are pending. All holes were drilled at an azimuth of 345 degrees and inclined at -55 degrees. Two HQ diameter holes have been completed for purposes of confirming the interpreted dip on the main zone and to obtain large volume sample for metallurgical testing. These holes were drilled at an azimuth of 165 degrees and inclined at -40 degrees. Based on visual examination of the drill cores and a preliminary evaluation of the distribution of yttrium as measured by hand held XRF, both holes have intersected the mineralized and altered zone over substantial down hole widths as would be expected from drilling down dip on the zone. Further details will be reported on these holes as logging and analyses become available.
Sample preparation and analytical work for the drilling program is being provided by Activation Laboratories Ltd. (Windhoek, Namibia and Ancaster, Ontario) employing ICP-MS techniques suitable for rare earth element analyses and following strict internal QAQC procedures inserting blanks, standards and duplicates.
43-101 Resource Estimate
MSA Group of South Africa has been engaged to deliver a National Instrument 43-101 compliant resource estimate which is targeted to be completed in third quarter 2012. Independent Qualified Persons working with MSA on the project include H. Scott Swinden, PhD, P.Geo. of Swinden Geoscience Consultants Ltd. and Peter Siegfried, MSc, MAusIMM of GeoAfrica Prospecting Services cc who co-authored the qualifying technical report for the Company's initial public offering in 2011. Geological services are being provided by Remote Exploration Services Namibia (Pty) Ltd. under the supervision of Franck Bizouerne, Exploration Manager for Namibia Rare Earths Inc. Mineralogical studies and support are being provided by Dr. James Clarke of Applied Petrographics (USA) and samples are being submitted to Activation Laboratories Ltd. for preparation (Namibia) and analyses (Canada).
Geophysical Surveys Extending Strike Potential of Area 4
Concurrent with the drilling program, 100 line kilometers of gradient array induced polarization geophysical surveys have been completed over prospective extensions of the favourable heavy rare earth-enriched structure emanating from Area 4 (Figure 3). The main shear corridor as defined by low resistivities has been extended over a strike length of 6.5 kilometers. Geophysical interpretations carried out by R. E. Gillick and Associates Ltd. have identified two high-priority target areas with geophysical characteristics similar to the Area 4 mineralized zone marked by low resistivities, suggesting possible fracture zones, and elevated thorium often associated with rare earth mineralization. Three lower-priority targets areas have been selected off the main shear corridor. Two of these areas are located along regional belts of elevated thorium and uranium. These are also associated with anomalous chargeability and resistivity. The third area, in the west part of the grid, has anomalous chargeability and resistivity but no associated radiometric anomaly.
Donald M. Burton, P.Geo. and President of Namibia Rare Earths is the Company's Qualified Person and has reviewed and approved this press release.
About Namibia Rare Earths Inc.
Namibia Rare Earths Inc. is developing a portfolio of mineral exploration projects in Namibia and is currently focused on the accelerated development of the Lofdal Rare Earths Project. The Company completed a CDN$28.75 million initial public offering and Toronto Stock Exchange listing in April, 2011 and is well funded to carry out its development program. The common shares of Namibia Rare Earths Inc. trade on the Toronto Stock Exchange under the symbol "NRE".
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THE CONTENT OF THIS RELEASE
1 As per industry norms heavy rare earths ("HREE") and their oxide equivalents ("HREO") comprise europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu) and yttrium (Y). Light rare earths ("LREE") and their oxide equivalents ("LREO") comprise lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd) and samarium (Sm). Total rare earths ("TREE") and their oxide equivalent ("TREO") comprise HREE+LREE (HREO+LREO). "Heavy rare earth enrichment" is the ratio of HREE:TREE or HREO:TREO expressed as a percentage. Ratios are calculated from source data and may vary from use of rounded numbers in tables.
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