Rare Earth Minerals ‘very pleased’ with Cup Lake sampling results
Rare Earth Minerals (LON:REM) director David Lenigas this morning declared himself ‘very pleased' with the exploration results from the Cup Lake prospect in Canada.
Initial exploration work was carried out on Cup Lake back in July, and today the group announced the results of a follow -up sampling programme that was completed in August.
Analysis of a grab sample from an old trench at Cup Lake showed 7.5 per cent total rare earth elements (TREE), which equates to 8.78 per cent total rare earth oxides (TREO), REM highlighted.
"These results are encouraging, especially considering it is a new exploration play," David Lenigas said in a stock exchange statement.
"The company is very pleased with the results to date and is optimistic that continued exploration at Cup Lake will yield further positive results in this area."
REM's team of geologists cut the samples out of bedrock with a diamond saw. These samples, each approximately 10 centimetres wide and 10 centimetre deep, were taken over 0.5 metre intervals.
In total 20 samples were collected from the trench - referred to as the ‘Rod' trench.
Another trench - referred to as the ‘George' trench - was also sampled. In total 14 samples were collected from the George trench, which is about 75 metres from the Rod trench.
Analytical results from the Rod trench shows TREO grades ranging from 0.006 to 1.27 per cent. REM said that out of the 20 samples, 6 have significant concentrations of rare earths with TREO ranging from 0.12 to 1.27 per cent, in particular 3 contiguous samples average 0.68 per cent TREO.
Meanwhile results from the George trench range from 0.005 to 1.23 per cent TREO's. Of the 14 samples, 4 have significant TREO values ranging from 0.15 to 1.23 per cent TREO's; and two contiguous samples average 0.98 per cent TREO's.
REM explained that the sample results are consistent with previous results and they indicate that significant rare earth mineralized zone occurs at Cup Lake.
