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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Rare Earth Minerals | LSE:REM | London | Ordinary Share | GB00B067JC96 | ORD 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.51 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMREM
RNS Number : 5794W
Rare Earth Minerals PLC
10 February 2017
Rare Earth Minerals Plc
("Rare Earth Minerals", "REM" or "the Company")
Final Drilling Results from the Cinovec Lithium & Tin Deposit
Rare Earth Mineral Plc (AIM/ISDX: REM; OTC: REMMY) is pleased to report the analytical results for the final three drillholes from the recently completed drilling programme at the Cinovec Main sector of the deposit.
A revision of the resource model is now underway and will form the basis of the soon to be completed Preliminary Feasibility Study. It is anticipated this resource model will be finalised and announced in February 2017.
REM holds a 20.76% economic interest in Cinovec, via its interest in European Metals Holdings Limited ("EMH"). Cinovec contains the largest lithium resource in Europe and one of the largest undeveloped tin resources in the world.
The full EMH release is available at: http://europeanmet.com/assets/20170210_-_EMH_Final_Drilling_Results_(Final_Draft).pdf
Highlights from the EMH release:
-- Analytical results for further three drillholes at Cinovec Main confirmed or exceeded the expected lithium content and mineralisation widths.
-- The drillholes CIW-25, CIW-27 and CIW-06, are located in a central part of the deposit, filling a gap between the western edge of the Cinovec deposit and the historic vein deposit Cinovec-Central.
-- Hole CIW-25 contains the Company's longest Li intercept to date of 361.5m averaging 0.43% Li(2) O, incl. a high-grade Li interval of 14.7m averaging 0.93% Li(2) O. Moreover, significant intervals of Sn and W are included: 2m @ 1.67%Sn and 0.216% W and 2m @ 0.76%Sn and 0.319% W.
-- Hole CIW-27 retuned a Li intercept of 235m averaging 0.49% Li(2) O, incl. high grade zones of 14m @ 0.97% Li(2) O and 2m @ 1.79%Li(2) O.
-- Hole CIW-06 intercepted a Li interval of 258.5m averaging 0.44% Li(2) O, containing high-grade intercepts of 3m@1.11%Li(2) O, 2.75m@0.91%Li(2) O and 2m@1.03%Li(2) O.
-- The updated drill database and geologic model for Cinovec have been completed and provided to Widenbar and Associates. The block model will be updated within the next fortnight, as all the analyses of the core from the drilling program have been received. The block model and resource calculation will form the basis of the Preliminary Feasibility Study.
Drill Programme
The drill holes CIW-25, CIW-27 and CIW-06 were collared in the central part of Cinovec main, filling a gap between the historic Cinovec-Central mine and the western edge of the Cinovec deposit (see Figure 1).
The current drill programme at Cinovec Main has been planned to confirm and delineate near surface lithium and tin mineralisation that would provide initial feed to the mill. Other goals are the conversion of resources from the Inferred to Indicated category, and delivery of material for metallurgical testing. A total of 17 diamond core holes have been completed. Visual inspection and logging indicates that the geology in these holes is as expected. Drill details are listed in Table 1 below.
After geological logging, drill core is cut in half with a diamond saw. Quarter core samples are selected (honouring geological boundaries) and dispatched to ALS (Romania) for preparation and assay; the 3/4 of the core is returned to the core box and stored securely on site. Samples are being prepared and analysed by ALS using ICP and XRF techniques following standard industry practice for lithium and tin deposits. Strict QAQC protocols are observed, including the insertion of a Li standard in random fashion for every 10 core samples, as well as the insertion of blank and duplicate samples.
Table 1 - Completed drillholes, Cinovec Main
Hot Features
Premium
Hole North East Elevation Depth Azimuth Dip Comments
ID (m) (m)
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-11 -779299.50 -966097.50 867.40 444.4 40.10 -77.86 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-20 -778810.50 -965638.00 837.50 257.6 336.70 -84.60 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-13 -779175.50 -966126.84 862.80 429.3 76.00 -80.40 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-19 -778810.80 -965692.10 837.80 271.6 332.10 -89.58 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-08 -778791.39 -965800.23 837.60 274.9 156.85 -89.30 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-18 -779018.59 -966182.61 855.47 395.7 210.60 -89.05 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-14 -779055.85 -966093.30 854.46 417.8 323.30 -89.07 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-07 -778867.31 -965841.48 840.99 300.0 333.60 -89.57 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-26 -779214.82 -965937.24 865.33 430.5 248.00 -89.38 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-17 -778957.07 -965520.58 847.07 238.2 332.10 -89.58 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-21 -778811.80 -965952.31 841.33 320.6 42.68 -89.02 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-10 -779215.43 -965938.41 865.35 455.0 303.40 -74.47 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-23 -779008.92 -965993.87 848.91 376.1 222.30 -89.40 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-22 -779009.34 -965993.42 848.88 420.6 287.90 -70.43 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-06 -778995.26 -965844.93 846.77 296.3 11.70 -80.18 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-25 -778994.45 -965901.56 847.04 382.4 281.10 -69.89 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
CIW-27 -779152.42 -965816.56 861.50 370.0 271.90 -89.53 confirmation/infill
-------- ----------- ----------- ---------- ------ -------- ------- --------------------
Hole locations are recorded in the local S-JTSK Krovak grid, all coordinates are surveyed.
Mineralised Intercepts and Lithology
The drillholes CIW-25 and CIW-06 were located on the NW edge of the Cinovec-main deposit, both were collared in the lithium bearing granite, and are about 60 meters apart in N-S direction at surface, increasing with depth as their core angles are discordant.
The upper part of the drill hole CIW-25 is formed by albite granite with several quartz veins and thin near-vein greisen bodies. The initial interval of massive greisen starts at depth of 104.25m and hosts a high grade intercept of 14.7m averaging 0.93% Li(2) O and high Sn and W intercepts (incl. 2m@1.67% Sn). The interval of intensive gresenization is terminated by an albite (+/- sericite) granite (173.5-204.6m). Below this zone, a long interval of greisenized granite and greisen was intersected. The base of the lithium mineralisation, the so called is low-mica granite, is at a depth of 373m. Apparent core angles of narrow greisen contact were measured at 55-70 degrees. The drillhole was angled 70 degree West and the core was not oriented; therefore, the mineralised intercepts may not represent true widths.
The hole CIW-06 is angled 80 degrees to the North. It starts in albite granite and is intersected by several quartz veins with high Sn and W grades. Greisen and greisenized granite zones are more frequent with depth. This upper sequence of the core is interpreted as a continuation of the vein domain from the historic Cinovec-Main deposit (4 historic stopes were intercepted in the hole). Interval of massive greisenization starts in depth 127.5m. The base of the Li mineralisation is presented by low-mica granite at a depth of 270m. As the angle of the hole is perpendicular to quartz veins and greisen bodies, the mineralised intercepts in the hole CIW-06 can be considered of true, or near true, widths.
Drill hole CIW-27, located some 160m W of CIW-06, is collared in the barren porphyry. The contact with the lithium bearing granite is at 102.8m. Immediately below the contact a massive greisen with quartz veins was intersected. The main mineralised interval is formed by greisenized granite and greisen, locally with quartz veins and zones of albite (+/- sericite, hematite) granite. The base of the main mineralised interval occurs at 339m where the low-mica granite is intersected. Measured core angles in the drillhole CIW-27 are subhorizontal, the hole is vertical, therefore the mineralised intercepts can be considered of true, or near true, widths.
The Tables below list the mineralised intercepts for the three drillholes.
Table summarizing mineralised intercepts in CIW-25
CIW-25
From To Interval Li(2) Sn W (%) Note
(m) O (%) (%)
incl. 14.7m@0.93%Li(2)
O (106.3-121m),
1.55m@1.23%Li(2)
O (123.45-125m),
3m@0.89%Li(2) O (127-130m),
4m@0.89%Li(2) O (159-163m),
5m@0.95%Li(2) O (166-171m),
361.5 2m@0.98%Li(2) O (223-225m),
9.5 373 *) 0.43 6m@0.81%Li(2) O (260-266m)
23 25 2 0.23 0.01 0.055
75.6 77 1.4 0.28 0.22 0.215
104.3 106.3 2 0.67 1.67 0.216 179ppm Nb
110.3 111.3 1 0.96 0.05 0.064
111.3 112.3 1 0.84 0.13 0.007
115.3 116.3 1 0.92 0.08 0.072
118.55 121.2 2.65 0.95 0.19 0.060
128 129 1 0.96 0.32 0.055
156 157 1 1.14 0.07 0.428
305ppm Nb, 100ppm
213 215 2 0.45 0.76 0.319 Ta
222 223 1 0.68 0.25 0.003
------- ------ --------- ------- ----- ------ -----------------------------
Cut-off: 0.2%Li(2) O, 0.1%Sn, 0.05%W
*) intercept shorter by mined-out cavities
Table summarizing mineralised intercepts in CIW-27
CIW-27
From To Interval Li(2) Sn W (%) Note
(m) O (%) (%)
incl. 14m@0.97%Li(2)
O (106-120m),
2m@1.79%Li(2) O (112-114m),
3m@0.90%Li(2) O (127-130m),
4m@0.86%Li(2) O (140-144m),
1m@1.03%Li(2) O (162-163m),
104 339 235 0.49 1m@1.14%Li(2) O (192-193m)
102.8 104 1.2 0.12 0.24 0.270
111 112 1 0.96 0.02 0.093
121 122 1 0.71 0.10 0.021
153 154 1 0.33 0.17 0.013
221 222 1 0.31 0.10 0.042
224 225 1 0.26 0.02 0.399
------ ---- --------- ------- ----- ------ -----------------------------
Cut-off: 0.2%Li(2) O, 0.1%Sn, 0.05%W
Table summarizing mineralised intercepts in CIW-06
CIW-06
From To Interval Li(2) Sn W (%) Note
(m) O (%) (%)
incl. 1.8m@1.00%Li(2)
O (75-76.8m),
2.75m@0.91%Li(2)
O (87.15-89.9m),
1.85m@1.00%Li(2)
O (104-105.85m),
3m@1.11%Li(2) O (128-131m),
258.5 2m@1.02%Li(2) O (186-188m),
8 270 *) 0.44 2m@1.03%Li(2) O (247-249m)
37.8 38.2 0.4 0.09 1.53 0.061
49 50.85 1.85 0.21 0.02 0.257
73.4 81.7 8.3 0.68 0.14 0.175
88.2 89.9 1.7 0.92 0.11 0.007
102 103 1 0.47 0.03 0.151
107 108 1 0.67 0.05 0.118
116 117 1 0.48 0.03 0.059
130 131 1 1.12 0.21 0.005
141 142 1 0.41 0.04 0.055
151 153 2 0.71 0.21 0.007
283 287 4 0.23
----- ------ --------- ------- ----- ------ -----------------------------
Cut-off: 0.2%Li(2) O, 0.1%Sn, 0.05%W
*) intercept shorter by mined-out cavities
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.
TECHNICAL GLOSSARY
The following is a summary of technical terms:
"carbonate" refers to a carbonate mineral such
as calcite, CaCO(3)
"cut-off grade" lowest grade of mineralised material
considered economic, used in the
calculation of Mineral Resources
"deposit" coherent geological body such as
a mineralised body
"exploration" method by which ore deposits are
evaluated
"g/t" gram per metric tonne
"grade" relative quantity or the percentage
of ore mineral or metal content
in an ore body
"Indicated" as defined in the JORC and SAMREC
or "Indicated Codes, is that part of a Mineral
Mineral Resource" Resource which has been sampled
by drill holes, underground openings
or other sampling procedures at
locations that are too widely spaced
to ensure continuity but close
enough to give a reasonable indication
of continuity and where geoscientific
data are known with a reasonable
degree of reliability. An Indicated
Mineral Resource will be based
on more data and therefore will
be more reliable than an Inferred
Mineral Resource estimate
"Inferred" or as defined in the JORC and SAMREC
"Inferred Mineral Codes, is that part of a Mineral
Resource" Resource for which the tonnage
and grade and mineral content can
be estimated with a low level of
confidence. It is inferred from
the geological evidence and has
assumed but not verified geological
and/or grade continuity. It is
based on information gathered through
the appropriate techniques from
locations such as outcrops, trenches,
pits, working and drill holes which
may be limited or of uncertain
quality and reliability
"JORC Code" Joint Ore Reserve Committee Code;
the Committee is convened under
the auspices of the Australasian
Institute of Mining and Metallurgy
"kt" thousand tonnes
"LCE" the total equivalent amount of
lithium carbonate (see explanation
above entitled Explanation of Lithium
Classification and Conversion Factors)
"lithium" a soft, silvery-white metallic
element of the alkali group, the
lightest of all metals
"lithium carbonate" the lithium salt of carbonate with
the formula Li(2) CO(3)
"Measured" or Measured: a mineral resource intersected
Measured Mineral and tested by drill holes, underground
Resources" openings or other sampling procedures
at locations which are spaced closely
enough to confirm continuity and
where geoscientific data are reliably
known; a measured mineral resource
estimate will be based on a substantial
amount of reliable data, interpretation
and evaluation which allows a clear
determination to be made of shapes,
sizes, densities and grades.Indicated:
a mineral resource sampled by drill
holes, underground openings or
other sampling procedures at locations
too widely spaced to ensure continuity
but close enough to give a reasonable
indication of continuity and where
geoscientific data are known with
a reasonable degree of reliability;
an indicated resource will be based
on more data, and therefore will
be more reliable than an inferred
resource estimate. Inferred: a
mineral resource inferred from
geoscientific evidence, underground
openings or other sampling procedures
where the lack of data is such
that continuity cannot be predicted
with confidence and where geoscientific
data may not be known with a reasonable
level of reliability
"metallurgical" describing the science concerned
with the production, purification
and properties of metals and their
applications
"Mineral Resource" a concentration or occurrence of
material of intrinsic economic
interest in or on the Earth's crust
in such a form that there are reasonable
prospects for the eventual economic
extraction; the location, quantity,
grade geological characteristics
and continuity of a mineral resource
are known, estimated or interpreted
from specific geological evidence
and knowledge; mineral resources
are sub-divided into Inferred,
Indicated and Measured categories
"mineralisation" process of formation and concentration
of elements and their chemical
compounds within a mass or body
of rock
"Mt" million tonnes
"ppm" parts per million
"recovery" proportion of valuable material
obtained in the processing of an
ore, stated as a percentage of
the material recovered compared
with the total material present
"stope" underground excavation within the
orebody where the main production
takes place
"t" a metric tonne
"tin" A tetragonal mineral, rare; soft;
malleable: bluish white, found
chiefly in cassiterite, SnO(2)
"treatment" Physical or chemical treatment
to extract the valuable metals/minerals
"tungsten" hard, brittle, white or grey metallic
element. Chemical symbol, W; also
known as wolfram
"W" chemical symbol for tungsten
ADDITIONAL GEOLOGICAL TERMS
"apical" relating to, or denoting an apex
"cassiterite" A mineral, tin dioxide, SnO2. Ore
of tin with specific gravity 7
"cupola" A dome-shaped projection at the
top of an igneous intrusion
"dip" the true dip of a plane is the angle
it makes with the horizontal plane
"granite" coarse-grained intrusive igneous
rock dominated by light-coloured
minerals, consisting of about 50%
orthoclase, 25% quartz and balance
of plagioclase feldspars and ferromagnesian
silicates
"greisen" A pneumatolitically altered granitic
rock composed largely of quartz,
mica, and topaz. The mica is usually
muscovite or lepidolite. Tourmaline,
fluorite, rutile, cassiterite, and
wolframite are common accessory
minerals
"igneous" said of a rock or mineral that solidified
from molten or partly molten material,
i.e., from a magma
"muscovite" also known as potash mica; formula:
KAl(2) (AlSi(3) O(10) )(F,OH)(2)
.
"quartz" a mineral composed of silicon dioxide,
SiO2
"rhyolite" An igneous, volcanic rock of felsic
(silica rich) composition. Typically
>69% SiO(2)
"vein" a tabular deposit of minerals occupying
a fracture, in which particles may
grow away from the walls towards
the middle
"wolframite" A mineral, (Fe,Mn)WO(4) ; within
the huebnerite-ferberite series
"zinnwaldite" A mineral, KLiFeAl(AlSi(3) )O(10)
(F,OH)(2) ; mica group; basal cleavage;
pale violet, yellowish or greyish
brown; in granites, pegmatites,
and greisens
- Ends -
For further information, please contact:
Rare Earth Minerals plc
Andrew Suckling +44 (0) 207 440 0647
Kiran Morzaria
WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666
James Joyce
James Bavister
Square1 Consulting +44 (0) 207 929 5599
David Bick
Brian Alexander
About Rare Earth Minerals
Rare Earth Minerals invests across the globe, principally in lithium mining projects. Its primary strategy is taking 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, Australia and Namibia. The Mexican and Czech deposits have published Indicated and Inferred Mineral Resources of 11.3 million tonnes of Lithium Carbonate Equivalent.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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