Update on Yangibana Rare Earths Element Project

RNS Number : 8880G

Rare Earth Minerals PLC

09 March 2015

 



 9 March 2015

Rare Earth Minerals Plc.

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

Update on Yangibana Rare Earths Element Project

New Ironstone Targets Identified at Yangibana

Rare Earth Mineral Plc (AIM: REM) advises that Hastings Rare Metals Limited ("Hastings"), REM's 70% joint venture partner in the Yangibana Rare Earths Elements ("REE") joint venture ("Yangibana") in Western Australia, is pleased to announce that after further review and interpretation of airborne HyMap hyperspectral data over the Yangibana REE Project, the JV manager, Hastings has identified a number of potential ironstone targets for follow up exploration.

Ironstone units are the host to the near surface rare earths mineralisation defined to date at Yangibana. These target areas comprise both strike extensions to known mineralised outcrop, and newly identified target areas. Over 200 potential ironstone targets were identified by the airborne HyVista survey with all warranting further evaluation.  

The full Hastings news release (with maps) dated 9 March 2015 is available at: http://www.hastingsraremetals.com/wp-content/uploads/2015/03/2nd-Mar-2015-Hyvista-DRAFT-v2-TH-6-March-2015.pdf

HIGHLIGHTS (from Hastings news release)

•     Further review of HyMap hyperspectral data Identifies new ironstone targets.

•     More than 200 ironstone targets identified.

•     Potential continuous ironstone over 5.7 kilometres strike length identified between Bald Hill South and Fraser's deposits.

•     Sub-parallel ironstone targets identified to the north and south of Yangibana North deposit.

•     Field verification to confirm the presence of rare earths mineralisation.

David Lenigas, The Company's Chairman, commented;

"These newly identified ironstone targets, show excellent potential for resource expansion to the already substantial REE's already identified and contained within our joint venture lands. We look forward to updates on the exploration of these targets and the ongoing pre-feasibility currently being carried out on Yangibana."

- Ends -

For further information please contact: 

Rare Earth Minerals plc                                                                   [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)                                        [phone]

James Joyce

Mark Leonard

Square1 Consulting                                                                         [phone]

David Bick

Mark Longson                                                            

 

END

 

 

MSCGCGDXDBGBGUC