VANCOUVER, May 2, 2016 /CNW/ - Search Minerals Inc.
("Search" or the "Company") (TSX Venture: SMY) announces that
the independent NI 43-101 Preliminary Economic Assessment Updated
Technical Report (the "PEA"), for the FOXTROT REE Project in
Labrador Canada, has been
completed and filed on SEDAR. A summary of the findings from
the PEA were announced on February 16,
2016 – (See the Company's News Release dated Feb 16, 2016 – Search Minerals Announces Enhanced
Economics in Updated Preliminary Economic Assessment of Foxtrot REE
Project).
The full report, "TECHNICAL REPORT ON THE FOXTROT PROJECT,
NEWFOUNDLAND AND LABRADOR, CANADA", prepared by Roscoe Postle
Associates Inc., can be obtained from www.sedar.com and also on the
Company website at www.searchminerals.ca.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility of the adequacy or
accuracy of this release.
About Search Minerals
Search is a TSX Venture Exchange listed company focused on
creating value through finding and developing "critical rare earth
element ("CREE")" mineral assets in Labrador. CREEs (Nd, Eu, Tb, Dy, Y) have
growing demand, constrained or restricted supply and are commonly
used in innovative technologies.
Search is the discoverer of the Port Hope Simpson CREE District,
a highly prospective CREE belt located in southeast Labrador, where the Company controls a belt 70
km long and up to 8 km wide. Search owns 100% of the advanced CREE
resource called the Foxtrot Project ("Foxtrot"), and a
recently announced Foxtrot-like prospect called "Deepwater Fox". In
addition, the Company has identified more than 20 other
Foxtrot-like prospects in the District. The primary focus of Search
is to continue to advance the Foxtrot resource, while evaluating
other Foxtrot-like prospects. Several of the Foxtrot-like prospects
require exploration drilling programs and may provide additional
resources to a central processing facility that would be situated
within the District.
In addition, Search holds a number of other CREE mineral
prospects in Labrador in its
portfolio, including claims in the Red Wine Complex and in the
Henley Harbour area.
Search is led by a management team and board of directors with
proven track records in the mining industry. The Company also has
experienced geological and metallurgical teams led by Dr.
Randy Miller and Dr. David Dreisinger, respectively.
All material information on the Company may be found on its
website at www.searchminerals.ca and on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Search Minerals Inc.