Rare Element Commences Separation Testing and Heavy Rare Earth Testing
March 15 2012 - 4:52PM
Marketwired
Rare Element Resources Ltd. (TSX:RES)(NYSE Amex:REE) announces that
it has entered into an agreement with the Australian Nuclear
Science and Technology Organization (ANSTO) to develop and test a
process to produce separated rare earth (RE) products from
concentrates derived from ore material at the Bear Lodge project,
Wyoming. Rare Element has also begun metallurgical testing of drill
core samples from the three project areas that were discovered to
contain high-grade heavy rare earth elements (HREEs) as announced
in August, 2011. This test work is being conducted at Mountain
States R&D International (MSRDI) in Vail, Arizona.
Jaye Pickarts, P.E., Chief Operating Officer noted, "We are very
fortunate to have engaged ANSTO and MSRDI for our test work. They
both have excellent international reputations in the REE scientific
community. As we continue our research into the processing of the
ore types at Bear Lodge, we are working to determine the most
comprehensive and economic methodology for extraction of the rare
earth elements that our potential customers will want."
Rare Earth Element (REE) Separation Study
Rare Element's strategy is to commence production of a bulk
mixed RE carbonate, and then to progress to the separation of the
bulk RE concentrate into HREEs; samarium, gadolinium and europium
(SEG); neodymium-praseodymium (also known as didymium); cerium and
lanthanum products using solvent extraction technology. As this
separation work advances, Rare Element may adjust the product suite
to add or further separate additional products. The separation
testing and development work will be performed in two phases. The
first phase, taking place over the next few months, will identify
whether any further purification processing is required for the
production of a mixed RE carbonate and how solvent extraction can
be successfully integrated into the current process. The second
phase will identify solvent extraction processes that will
chemically achieve the desired separated REE products. Once each of
these tasks are successfully accomplished, the Company plans to
continue testing of separation into individual rare earth oxides.
The specifications for the individual RE oxides (REOs) will be
determined by customer requirements.
Metallurgical Testing of HREEs
The Company has engaged Mountain States R&D International,
under the direction of Dr. Roshan Bhappu, to conduct preliminary
physical (mineral) and hydrometallurgical concentration testwork on
2011 drill core obtained from the Carbon, East Taylor and Whitetail
Ridge areas. These areas have been found to contain significantly
higher concentrations of HREEs. (Details of this discovery were
outlined in Rare Element's news release issued on August 4, 2011.)
HREE enrichment occurs primarily in RE fluocarbonate minerals at
Whitetail Ridge and Carbon, and occurs in both xenotime, an
yttrium-vanadium phosphate, and RE fluocarbonates at East Taylor.
Preliminary characterization of these western areas indicate high
grades (greater than 3% RE oxide) and substantial quantities of the
light rare earth elements (LREEs) along with some of the highest
grades of HREEs in North American REE deposits. The
oxidized-mineralized bodies in these three areas are particularly
enriched in europium (Eu), terbium (Tb), dysprosium (Dy), and
gadolinium (Gd), with locally high yttrium (Y).
The MSRDI test work will focus on creating an upgraded REE
pre-concentrate using a combination of physical and chemical
processes, followed by further concentration using the
hydrometallurgical process already developed for the Bull Hill
deposit. The same physical concentration methods for minerals to be
used for Bull Hill ores will be tested on the HREE-enriched
material, along with several other potential methods.
Markets for Rare Earths
Rare Element has been and continues to negotiate with some
highly recognized companies for potential off-take
partnerships.
Rare-earth elements are key components of the green energy
technologies and other high-technology applications. Some of the
major applications include hybrid automobiles, plug-in electric
automobiles, advanced wind turbines, computer hard drives, compact
fluorescent light bulbs, metal alloys in steel, additives in
ceramics and glass, petroleum cracking catalysts, and many others.
China currently produces more than 96% of the 124,000 tonnes of
rare-earths consumed worldwide annually, and China has been
reducing its exports of rare earths each year. The rare-earth
market is projected to grow rapidly as these green technologies are
implemented on a broad scale. Rare earths are critical and enabling
metals for the green technologies.
Rare Element Resources Ltd. (TSX:RES)(NYSE Amex:REE) is a
publicly traded mineral resource company focused on exploration and
development of rare-earth elements and gold on the Bear Lodge
property.
ON BEHALF OF MANAGEMENT
Jaye T. Pickarts, P.E., Chief Operating Officer
For information, refer to the Company's website at
www.rareelementresources.com.
Forward-Looking Statements
Except for statements of historical fact, certain information
contained herein constitutes forward-looking statements. Forward
looking statements are usually identified by our use of certain
terminology, including "will", "believes", "may", "expects",
"should", "seeks", "anticipates", "has potential to", or "intends"
or by discussions of strategy or intentions. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results or achievements to be
materially different from any future results or achievements
expressed or implied by such forward-looking statements.
Forward-looking statements are statements that are not historical
facts, and include but are not limited to, statements regarding our
expectations regarding future mineral resource estimates; our
plans, objectives and expectations with respect to the Bear Lodge
Project; general industry and macroeconomic growth rates and
statements regarding future performance.
Forward-looking statements used in this discussion are subject
to various risks and uncertainties, most of which are difficult to
predict and generally beyond the control of the Company.
Forward-looking statements in this document are not a prediction of
future events or circumstances, and those future events or
circumstances may not occur. If risks or uncertainties materialize,
or if underlying assumptions prove incorrect, our actual results
may vary materially from those expected, estimated or projected.
Important factors than can cause the Company's actual results to
differ materially from those anticipated in the forward-looking
statements include risks associated with commodity prices,
exploration results, governmental and environmental regulations,
permitting, licensing and approval processes for our operations and
other factors described under the heading "Risk Factors" in our
Annual Report on Form 10-K for the year ended June 30, 2011, filed
with the U.S. Securities and Exchange Commission ("SEC") as updated
by our subsequent filings with the SEC. Given these uncertainties,
users of the information included herein, including investors and
prospective investors, are cautioned not to place undue reliance on
such forward-looking statements. The Company undertakes no
obligation to update any forward-looking statements made in this
press release to reflect future events or developments, except as
required by U.S. and Canadian securities laws.
Contacts: Rare Element Resources Ltd. Anne Hite Director of
Investor Relations (720) 278-2466ahite@rarelementresources.com
www.rareelementresources.com