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HUD Hudson Resources Inc

0.03
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hudson Resources Inc TSXV:HUD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.03 0.025 0.035 0 01:00:00

Hudson Updates Rare Earth Project and Introduces New Anorthosite Project in Greenland

24/09/2012 2:00pm

Marketwired Canada


HUDSON RESOURCES INC. (the "Company") - (TSX VENTURE:HUD)(OTCQX:HUDRF) is
pleased to announce the following update to the 2012 work program on the
Sarfartoq Rare Earth Project, as well as, the introduction of the White Mountain
Anorthosite (calcium feldspar) Project. Both projects are situated on 100% owned
exploration licenses in Greenland. Field work is ongoing with one drill
operating and bulk sample ready for shipping.


Exploration and Development Highlights to Date:

Sarfartoq Rare Earth Project



--  Completed 5,600 m of drilling 
--  Completed two years of environmental baseline studies - a prerequisite
    for obtaining a mining license 
--  Initiated social impact studies and community consultation with
    excellent support at all levels 
--  Completed geotechnical holes for incorporation in prefeasibility study 
--  Demonstrated that high-grade rare earth zones continue to the north of
    the ST1 Zone 
--  Advanced the metallurgical flowsheet 



White Mountain Anorthosite Project



--  Initiated exploration of the White Mountain Anorthosite Project. The
    anorthosite is a calcium feldspar mineral comprised of aluminum, silica
    and calcium 
--  Potential industrial applications include alumina production, fiberglass
    feedstock, and paint, plastics and paper fillers 
--  Completed 3,400 m of drilling and identified numerous areas of high
    purity anorthosite. Drilling is ongoing and expected to be completed in
    early October 
--  Completed the extraction of a 100 tonne bulk sample 
--  Initiated baseline environmental studies 
--  Completed beneficiation test work to produce a high purity product with
    minimal processing 
--  Samples shipped to potential end users in Europe and North America 



James Tuer, Hudson's President, stated, "We are very excited about the prospects
for Hudson as we look towards the future. Our drill program at Sarfartoq
continued to demonstrate the presence of high grade rare earth zones in and
around the ST1 resource shell. As well, a new high grade zone north of ST1 has
been discovered which is rich in rare earths and niobium which will add
significantly to our underground mining plans. We are also very excited about
the White Mountain Anorthosite Project which is on tidewater and located 40 km
from the ST1 area. The proposed anorthosite project would be a simple open pit
mining operation similar in scope to a quarry with little processing required to
provide a high-value product to European and North American markets. To date, we
have drilled 33 holes at White Mountain totalling 3,400 m over an area measuring
approximately 6 km by 2 km. Almost 100% anorthosite was intersected in every
hole demonstrating the massive nature of this body. If a marketable resource can
be developed it has the potential to provide significant cash flow with a short
start-up time. We have completed one season of baseline environmental data with
the objective of submitting an application for a mining license in the second
half of 2013."


Sarfartoq Project

The objectives of the 2012 exploration and development program at the company's
Sarfartoq Rare Earth Element (REE) Project program were threefold: (i) increase
the resource at the ST1 Zone; (ii) test several additional REE targets; and
(iii) continue with the baseline environmental data collection and
socio-economic and environmental consultations needed to allow for the
submission of a mining license application for the project in 2013. The Company
believes that it has achieved all of these objectives.


At Sarfartoq, Hudson drilled 23 holes totalling 5,600 m. Nineteen of the holes
were drilled within 2.5 km of the ST1 Zone and four holes were drilled at ST24,
on the south side of the carbonatite. Samples from three of the holes north of
ST1 were shipped by air for expedited assays due to mineralogical signatures
that were somewhat different than the standard ST1 material. These results are
reported below in Table 1 and they confirm that the high grade zone intercepted
in 2011 in hole SAR11-50 (four meters of 7.2% TREO) now extends at least 300 m
to the north. The balance of the samples have been shipped by sea freight in
order to save $100k in air freight. Results are expected in the fourth quarter.




Table 1: 2011 Phase Two High-Grade Intercepts at the ST1 Zone North         
                                                                            
                                            Inter-                          
Drill                                      section                          
 Hole     Length                From    To    (1.)   TREO    Nd2O3     Nb2O5
             (m)                 (m)   (m)     (m)             % kg/t      %
SAR12-15   314.0                90.0 100.0    10.0  3.42%  0.39%  3.9  0.06%
                     Including  90.0  92.0     2.0  7.27%  0.77%  7.7  0.02%
                 And           163.0 177.0    14.0  2.74%  0.33%  3.3  0.16%
                     Including 163.0 169.0     6.0  4.34%  0.52%  5.2  0.11%
                     Including 167.0 175.0     8.0  2.01%  0.26%  2.6  0.23%
                 And           233.0 287.0    54.0  2.11%  0.25%  2.5  0.10%
                     Including 233.0 237.0     4.0  2.11%  0.28%  2.8  0.28%
                     Including 259.0 265.0     6.0  4.09%  0.46%  4.6  0.05%
                     Including 277.0 283.0     6.0  5.53%  0.57%  5.7  0.04%
----------------------------------------------------------------------------
SAR12-18   279.0                48.0  54.0     6.0  2.94%  0.37%  3.7  0.46%
                                                                       0.41%
                 And            82.0  90.0     8.0  1.65%  0.22%  2.2   (2.)
                                                                       0.24%
                 And           116.0 168.0    52.0  1.58%  0.19%  1.9   (3.)
                                                                       0.72%
                     Including 122.0 124.0     2.0  3.63%  0.43%  4.3   (4.)
                                                                       0.36%
                     Including 154.0 168.0    14.0  3.00%  0.36%  3.6   (5.)
                 And           200.0 208.0     8.0  3.48%  0.35%  3.5  0.06%
                     Including 204.0 206.0     2.0  6.89%  0.64%  6.4  0.02%
----------------------------------------------------------------------------
SAR12-19   229.0                48.0  54.0     6.0  2.94%  0.37%  3.7  0.15%
                                                                            
----------------------------------------------------------------------------
SAR11-50                                                                    
(6.)       244.0               206.0 220.0    14.0  3.26%  0.40%  4.0  0.47%
                     Including 206.0 210.0     4.0  7.15%  0.88%  8.8  0.99%
                     Including 216.0 218.0     2.0  5.90%  0.71%  7.1  0.28%
                                                                            
Note 1. The three 2012 drill holes at ST1 were located 1,250m north-east of 
the main ST1 body and 300m north-east of SAR11-50. SAR12-15, SAR12-18, and  
SAR11-50 were drilled at an average azimuth of 315 degrees and a dip of     
between 45 and 55 degrees. SAR12-19 was located 225m north-west of SAR12-18 
at an azimuth of 145 and a dip of 49 degrees. Only the top 68m of SAR12-19  
was submitted for expedited assays. An estimate of the true width of the    
other holes cannot be determined until the resource has been updated.       
Note 2. 1 of 4 Samples greater than 5000ppm Nb detection limit              
Note 3. 4 of 26 Samples greater than 5000ppm Nb detection limit             
Note 4. 1 of 1 Sample greater than 5000ppm Nb detection limit               
Note 5. 2 of 7 Samples greater than 5000ppm Nb detection limit              
Note 6. SAR11-50 was drilled in 2011 and is the closest previous drill hole 
to these 2012 drill holes.                                                  



In the past two months, Hudson engaged SGS Lakefield Research to conduct
additional flotation and other beneficiation tests on the ST1 rare earth
material. Initial flotation results are encouraging and results will be reported
as they become available. Previous testwork at the Saskatchewan Research Council
has demonstrated that recoveries of over 90% are achievable utilizing acid
baking and leaching on the ST1 material. Hudson hopes to announce the flowsheet
for this project in early 2013.


The ST1 Zone contains one of the industry's highest ratios of neodymium and
praseodymium to TREO, at 25%. The new zone to the north has a lower percentage
of neodymium but this is offset by higher grades and the addition of meaningful
quantities of niobium. Currently, the ST1 Zone indicated resource contains over
26 million kilograms of neodymium and praseodymium oxide, which are the key
components in permanent magnets and the fastest growth sector of the rare earths
industry. Neodymium and praseodymium oxide are currently quoted at around
US$100/kg, FOB China, and US$65/kg, within China, according to
www.metal-pages.com. While these prices are much lower than peak prices last
year, they are significantly higher than the $15/kg prices that were quoted when
the project was initiated in 2009.


White Mountain Project

Hudson commenced exploration on a very large anorthosite (calcium feldspar) body
located on the Company's Najaat Exploration Licence, which is approximately 40
km north west the Sarfartoq Project and adjacent to the Sondrestrom Fjord. These
types of deposits are unique in that they have high concentrations of aluminum,
silica and calcium. Based on the work to date, Hudson has determined that the
characteristics of this calcium feldspar rock has three potential high-value
applications which are being investigated including:




1.  As a new source of alumina to supply aluminum smelters; 
2.  As a new source of feedstock to the high end fiberglass (E-glass)
    industry; and 
3.  As a new source of filler material. Fillers are a significant component
    of the plastics, paints and paper industries. 



Hudson believes that nature of the material supports the potential to be a
source of alumina. This would be an alternative method to the traditional Bayer
process of producing alumina using bauxite. Hudson has entered into a
confidentiality agreement with a company to investigate the recovery of alumina
(aluminum oxide) using their proprietary technology. Hudson has also entered
into confidentiality agreements with a number of the key industry players in the
fibreglass and industrial mineral filler markets to investigate the application
of this material to their product lines. Further details will be released as
they become available.


The Sarfartoq REE project is located within 20 km of tidewater and only 60 km
from Greenland's international airport in Kangerlussuaq. The White Mountain
Calcium Feldspar Project is located only 4km from tidewater and 80km from
Kangerlussuaq. Both projects are owned 100% by Hudson. The Company is
well-financed with approximately $8 million in working capital.


Dr. Michael Druecker is a Qualified Person as defined by National Instrument
43-101 and reviewed the preparation of the scientific and technical information
in this press release in respect of the Sarfartoq REE Project. 


ON BEHALF OF THE BOARD OF DIRECTORS 

James Tuer, President 

Forward-Looking Statements 

This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this news
release, including, without limitation, statements regarding plans for the
completion of a financing and the intended terms and use of proceeds thereof,
and other future plans and objectives of the Company are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Company's plans or expectations include market prices, general economic, market
or business conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time to time in
the filings made by the Company with securities regulators. The Company
expressly disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise except as otherwise required by applicable securities legislation.


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