Results of Metallurgical Testing from Yangibana

RNS Number : 2801Y

Rare Earth Minerals PLC

28 November 2014

 



Rare Earth Minerals Plc.

("Rare Earth Minerals", "REM" or "the Company")

Results of Metallurgical Testing from Yangibana

Rare Earth Minerals (AIM: REM) advises that Hastings Rare Metals Limited ("Hastings"), REM's 70% joint venture partner in the Yangibana Rare Earths Element ("REE") Project ("Yangibana") in Western Australia, have announced significant positive results from the first metallurgical tests from Yangibana North.

The full Hastings news release dated 28 November 2014 is available at:

http://www.asx.com.au/asxpdf/20141128/pdf/42v31vfk171m6x.pdf

Highlights (from Hastings News Release):

·     Monazite identified as the main rare earths-bearing mineral at Yangibana.

·     Monazite known to be amenable to commercial processing.

·     More than 80% of the monazite is liberated at grind size of passing 75 microns.

·     Early beneficiation tests using flotation achieve significant 85% recovery of rare earths into 25% of original mass with a 3.5 times increase in rare earths grade.

·     Results indicate that a relatively low cost and significant uplift of rare earths grade can be achieved early in the processing route.

·     This indicates that a relatively small hydrometallurgical plant will be required.

·     Additional beneficiation routes are also being tested.

·     Hydrometallurgical tests to commence.

David Lenigas, The Company's Chairman, comment;

"Not only is Yangibana shaping up to be a significant rare earths element project outside of China, which controls the majority of the world's REEs, but one that now clearly has shown that the valuable REEs can be extracted with very high recoveries. These latest results are a significant development towards assessing the commercial viability of this exciting project."

Summary (from Hasting News Release):

Hastings announced that outstanding results have been received from preliminary mineralogical characterisation test work completed on two composited samples from the JORC resources at Yangibana North. The main rare earths-bearing mineral has been confirmed to be monazite, a mineral with a long history of successful beneficiation and extraction as a source of rare earth elements at commercial scales. Mineralogical studies have indicated that the Yangibana monazite is well liberated at a relatively coarse grind size of 75 microns. Beneficiation test work has commenced with recent tests achieving greater than 85% recovery of the total rare earths oxides (TREO) to a higher grade concentrate of less than 25% of the initial mass.

TREO grade increase to the concentrate has exceeded 3.5 times. Results are very encouraging. Further optimisation tests are under way with the aim of improving the recovered grades and recovery rate. Testing of alternative beneficiation techniques (using magnetics and gravity methods) will also commence shortly to determine which method or combination of methods provides the best results.

Preliminary test work will also commence to assess the amenability of the mineralisation to leaching by various acids. Such leaching will be used on the beneficiated intermediate mineralisation (concentrate) in the processing route to extract the rare earths oxides.

Hastings expects the final beneficiation results to significantly reduce the capital expenditure (capex) and operating expenditure (opex) of the Yangibana Project. The reduction in both capex and opex would be driven by the beneficiation process as it removes a significant portion of waste material. The reduced tonnage of upgraded mineral bearing mass (concentrate) would require a small hydrometallurgical plant to be operated.

Details of Ownership:

On 1 December 2011, REM announced that it had acquired a 30% free carried interest to Bankable Feasibility Study ("BFS") of the Yangibana North Rare Earth Deposit. Therefore the exploration costs until the commencement of the BFS are borne solely by Hastings Rare Metals Limited (70% owners and operator).The same terms agreed and announced on 1 December 2012 also apply to five out of the seven additional targets to be drilled which includes Lion's Ear, Hook, Gossan, Kane's Gossan, and Yangibana South.

Glossary:

·     TREO is the sum of the oxides of the heavy rare earth elements (HREO) and the light rare earth elements (LREO).

HREO is the sum of the oxides of the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y).

CREO is the sum of the oxides of neodymium (Nd), europium (Eu), terbium (Tb), dysprosium (Dy), and yttrium (Y) that were classified by the US Department of Energy in 2011 to be in critical short supply in the foreseeable future.

LREO is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm).

- Ends -

For further information please contact: 

Rare Earth Minerals plc                                                                   [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Joint Broker)                               [phone]

James Joyce

Mark Leonard

Hume Capital plc (Joint Broker)                                                     [phone]

Guy Peters

Jon Belliss

Square1 Consulting

David Bick, Mark Longson                                                                  [phone]

 

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