- Continuity of heavy rare earth enrichment continues to be confirmed by in-fill drilling
- Intercept of 11 meters of 1.40% total rare earth oxides with 96.1% heavy rare earth enrichment
- Deeper drilling indicates potential for deposit to continue at depth
- Initial NI 43-101 Mineral Resource Report to be delivered in Q3
HALIFAX, June 11, 2012 /CNW/ - Namibia Rare Earths Inc. ("Namibia Rare Earths" or the "Company") (TSX: NRE) is pleased to report that the planned resource drilling program in Area 4 on the Lofdal Rare Earth Project in northwestern Namibia (Figure 1) was completed last month. Drill results have been received from an additional 23 holes with highlights provided below.
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 as well as the potential of the deposit to continue at depth. Drill intercepts from today's release are highlighted by an intercept of 11 meters of 1.40% total rare earth oxides ("TREO") with 96.1% heavy rare earth ("HREE") enrichment. Results from 13 holes remain outstanding which are expected by the end of June. The majority of the remaining holes represent deeper step back holes targeting the zone at vertical depths of between 100 and 250 meters.
Don Burton, President of Namibia Rare Earths stated,
"The bulk of the results reported to date are from close spaced holes focused on defining the resource to a vertical depth of only 60-75 meters. This approach has allowed the geological team to develop an understanding of where the higher grade zones are to be expected in order to target deeper holes. The last 12 holes were designed to test the model to depths of 100 to 250 vertical meters. Hole 4086 reported today was the first of these deeper holes and it returned a very good intercept of 1.40% TREO with exceptional heavy rare earth enrichment of 96.1% at the expected target depth of 100 vertical meters. There is therefore potential to substantially increase deposit tonnage with these more widely spaced and deeper holes and confirm the potential of the deposit to continue at depth."
New Drill Results
New results are highlighted by:
- 1.40% TREO over 11.00 meters with 96.1% HREE enrichment
(including 2.08% TREO over 7.00 meters with 97.3% HREE enrichment)
- 0.56% TREO over 10.00 meters with 73.6% HREE enrichment
(including 1.83% TREO over 2.00 meters with 86.5% HREE enrichment)
- 0.43% TREO over 20.00 meters with 82.3% HREE enrichment
(including 1.14% TREO over 2.00 meters with 95.2% HREE enrichment)
- 0.40% TREO over 10.00 meters with 88.0% HREE enrichment
(including 1.81% TREO over 1.00 meter with 97.4% HREE enrichment)
- 0.31% TREO over 15.00 meters with 71.4% HREE enrichment
(including 1.12% TREO over 1.00 meter with 93.8% HREE enrichment)
- 0.27% TREO over 30.00 meters with 82.6% HREE enrichment
(including 0.96% TREO over 2.00 meters with 89.6% HREE enrichment)
- 0.25% TREO over 35.00 meters with 79.1% HREE enrichment
(including 2.49% TREO over 1.00 meter with 95.5% 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.
The total meters drilled for the initial Area 4 resource estimate is 9,520 meters of NQ diamond core with an addition 310 meters of HQ diamond core available for metallurgical test work. Surface sampling of 13 trenches comprising 870 meters was also completed and will be incorporated into the Area 4 resource model. The resource program remains on schedule for delivery of the initial NI 43-101 compliant mineral resource report in the third quarter of 2012.
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 has focused on the first 60-75 vertical meters of the zone with selected step back holes to 100-150 vertical meters. A single hole was completed targeting the deposit at a vertical depth of 250 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 48 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, December 5, 2011 and March 30, 2012) have demonstrated that the zone exhibits exceptional heavy rare earth enrichment of 70 to 95% over drill widths of 4.0 to 35.0 meters with average grades of between 0.2 to 1.4% TREO. Within this zone there are higher grade intervals over drill widths of 0.35 to 7.0 meters with average grades of 1.0 to 6.2% TREO with up to 98% heavy rare earth enrichment.
Twelve of the twenty-three holes reported today represent four in-fill sections, ten holes complete targeting to the 60 vertical meter level and one hole targeted to 100 vertical meters (Figure 2 and Table 1). Of the remaining thirteen holes pending eight were targeted to intersect at 100 vertical meters, four holes to intersect at 150 vertical meters and one hole is targeted to intersect the zone at 250 vertical meters (Figure 3). These holes were drilled at an azimuth of 345 degrees and inclined at -55 to -75 degrees.
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).
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".
Please click here for figures and tables: http://files.newswire.ca/961/lodfal.pdf
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED
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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