Thursday, June 21, 2012

US-Sourced Rare Earths Underway

Published June 21, 2012

By Philippe Crowe

U.S. Rare Earths, Inc., (USRE) announced yesterday that surface rock sampling conducted in the fourth quarter 2011 at its Idaho and Montana properties near Lemhi Pass and North Fork Idaho, along with results from sampling in 2009 and 2010 indicate the presence of Total Rare Earth (TRE) ranging as high as 26 percent.

“The analytical results from ACT Labs, Canada – along with the aero-mag we flew after acquiring these properties will shape our 2012 Drill Program,” said Greg Schifrin, chief operating officer.

TRE findings at the North Fork Project ranged from 1-10 percent at the Radiant Claim, 1-26 percent at the Cardinal Claim, 1-9 percent at the Silver King Claim, 1-10 percent at the Lower Lee Buck Claim, 1-8 percent at the Diamond Creek Project and 1-18 percent at the Sheep Creek Project.

"The concentrations of TRE present from our rock sampling are substantial and present potential for a significant discovery," said Michael D. Parnell, chief executive officer. “As one of the two large U.S. reserves listed in the Department of Energy’s (DOE) Critical Materials Strategy Report, our rare earth properties could help supply the projected demand of the United States military and civilian green industries, thus assisting in eliminating the dependence the United States currently has on foreign sources,” added Parnell.

In 2011, USRE announced the acquisition of the Idaho and Montana properties as well as the additional staking of 8,000 acres in and around the Lemhi Pass District and North Fork.

U.S. Rare Earths’ properties in Idaho and Montana including Lemhi Pass have been recognized in the U.S. Department of Energy’s Critical Materials Strategy publication to have significant showings of Heavy Rare Earth Elements, in particular for the five Rare Earths identified by DOE as being at “Critical Risk”: Dysprosium, Europium, Neodymium, Terbium and Yttrium.


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