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ZEST Zest Grp

0.405
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Share Name Share Symbol Market Type Share ISIN Share Description
Zest Grp LSE:ZEST London Ordinary Share GB00B067JC96 ORD 0.01P
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  0.00 0.00% 0.405 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
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Rare Earth Minerals PLC Cinovec Lithium Project, Drilling Update (4353B)

06/10/2015 4:33pm

UK Regulatory


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TIDMREM

RNS Number : 4353B

Rare Earth Minerals PLC

06 October 2015

Rare Earth Minerals Plc.

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

Cinovec Lithium Project, Drilling Update

Rare Earth Mineral Plc (AIM: REM) advises that European Metals Holding Limited ("European Metals"), a company that REM holds a 9.79% equity interest in, has announced an update to the drilling campaign currently being carried out at its 100% owned Cinovec Lithium-Tin-Tungsten Project ("Cinovec") in the Czech Republic. The full European Metals news release dated 6 October 2015 is available at: http://www.asx.com.au/asxpdf/20151006/pdf/431vrq1f3grf95.pdf.

HIGHLIGHTS FROM THE RELEASE

   --      Drillhole PSn06 completed at Cinovec to a depth of 401.5m 
   --      Results expected in mid-November 

-- Drilling will underpin conversion of Inferred to Indicated Resources and provide material for additional metallurgical testing

-- Cinovec is one of the largest lithium deposits in the European Union, with a defined Inferred Resource of 514.8Mt @ 0.43% Li(2) O for 5.5Mt lithium carbonate equivalent ("LCE") and an additional Exploration Target of 350-450Mt @ 0.39-0.47% Li(2) O for 3.4-5.3Mt LCE

   --      Previous drilling by the Company at Cinovec has returned intercepts of: 

o 108.9m @ 0.52% Li(2) O, 0.16% Sn, 0.04% W (CIS-3) from 173m

o 185.15m @ 0.44% Li(2) O, 0.07% Sn, 0.02% W (CIS-2) from 187.45m

o 109.6m @ 0.43% Li(2) O, 0.06% Sn, 0.02% W (CIS-1) from 171m

   --      Historic drilling at Cinovec returned intercepts including: 

o 202m @ 0.62% Li(2) O (CN-17) from 22m

o 223m @ 0.52% Li(2) O (CN-81) from 1m

o 187m @ 0.51% Li(2) O (CS-1) from 227m

-- An update on production of the bulk lithium mica concentrate for mini-plant testing will be provided in the near future

   --      Progress towards dual listing in London is on track 

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).

- Ends -

For further information please contact:

Rare Earth Minerals plc +44 (0) 207 440 0647

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker) +44 (0) 207 220 1666

James Joyce

Mark Leonard

Square1 Consulting +44 (0) 207 929 5599

David Bick

Mark Longson

Glossary:

 
 Indicated Mineral Resource   That part of a mineral resource 
                               for which quantity, grade (or 
                               quality), densities, shape and 
                               physical characteristics are estimated 
                               with sufficient confidence to 
                               allow the application of Modifying 
                               Factors in sufficient detail to 
                               support mine planning and evaluation 
                               of the economic viability of the 
                               deposit. 
---------------------------  ---------------------------------------- 
 Inferred Mineral Resource    That part of a mineral resource 
                               for which quantity and grade (or 
                               quality) are estimated on the 
                               basis of limited geological evidence 
                               and sampling. 
---------------------------  ---------------------------------------- 
 Li(2) O                      Lithium oxide 
---------------------------  ---------------------------------------- 
 Sn                           tin 
---------------------------  ---------------------------------------- 
 W                            tungsten 
---------------------------  ---------------------------------------- 
 LCE                          LCE = lithium carbonate (Li(2) 
                               CO(3) ) Equivalent: determined 
                               by multiplying Li value in percent 
                               by 5.324 to get an equivalent 
                               Li(2) CO(3) value in percent. 
                               Use of LCE assumes 100% recovery 
                               and no process losses in conversion 
                               of Li to Li(2) CO(3) 
---------------------------  ---------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEASEKEANSFFF

(END) Dow Jones Newswires

October 06, 2015 11:33 ET (15:33 GMT)

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