Auroch Minerals Update

RNS Number : 1943A

Rare Earth Minerals PLC

22 March 2017

 

Rare Earth Minerals Plc

("Rare Earth Minerals" or "REM")

Auroch Minerals Update

Rare Earth Minerals Plc (AIM/ISDX: REM, OTC: REMMY), is pleased to report that Auroch Minerals Limited in which REM currently owns a 7.7% shareholding, has exercised its option to acquire 90% of EPL 5751 as it continues its focus on the Karibib Lithium Project in Namibia.

The full announcement can be found at: http://clients3.weblink.com.au/pdf/AOU/01841006.pdf .

Highlights

·     Auroch has exercised its option to acquire 90% of EPL 5751 which will become part of the

Karibib Lithium Project, Namibia

·     Samples assaying up to 2.73% Li2O have been collected during first pass reconnaissance field

work

·     The presence of lithiophilite in the Tsaobis Pegmatite is confirmation of lithium enrichment

and that the pegmatite is a Lithium Caesium Tantalum pegmatite[i] and is highly prospective

·     Interpretation of regional geophysics suggests further pegmatites exist in the area that have

not yet been visited

·     An important step in the growth of the Karibib lithium Project

·     Auroch in a strong financial position: A$8.3 million[ii]

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

-Ends-

For further information, please contact: 

Rare Earth Minerals plc                                                                                                 [phone]

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (Nomad & Broker)                                                                 [phone]

James Joyce

James Bavister

Square1 Consulting                                                                                                        [phone]

David Bick

Brian Alexander

About Rare Earth Minerals

Rare Earth Minerals invests across the globe, principally in lithium mining projects. Its primary strategy is take significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Rare Earth Minerals board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. REM's goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

Rare Earth Minerals are major shareholders of the Sonora Lithium Project in northern Mexico and the Cinovec Lithium and Tin Project in the Czech Republic. Rare Earth Minerals portfolio also includes significant lithium-based investments the USA and Australia. The Mexican and Czech deposits have published Indicated and Inferred Mineral Resources of 11.3 million tonnes of Lithium Carbonate Equivalent.

---

[i] LCT = Lithium-Caesium-Tantalum and refers to the type of pegmatites which are lithium-enriched. All pegmatites that are mined for

lithium minerals are varieties of LCT pegmatites

[ii] Refer ASX announcement 2nd March 2017

 

END

 

 

MSCUUSKRBUAOURR