Hudson Reports Additional High Grade Assays at Greenland Rare Earth Project
November 03 2011 - 9:10AM
Marketwired
HUDSON RESOURCES INC. (the "Company") (TSX
VENTURE:HUD)(OTCQX:HUDRF) is pleased to announce the 2011 Phase Two
drill results for the Sarfartoq rare earth element project in
Greenland. Phase Two drilling included 4,888m of infill and step
out drilling at the ST1 Zone where the Company has outlined a
43-101 compliant inferred resource of 14.1Mt at 1.5% TREO. An
additional 1,858m of exploratory drilling was also completed
peripheral to ST1. A further 1,450m of drilling was completed in
the ST19 area located approximately 9km southeast of ST1. Complete
drill results are presented in Table 3 below. In total 16,514m over
71 holes were drilled this year. In addition, a 5 tonne
metallurgical sample was collected from surface.
2011 Phase Two Highlights:
-- Fourteen holes at the ST1 Zone intercepted high-grade intervals assaying
from 2.07% TREO to 6.49% TREO - averaging 3.6% TREO over 10.5m. In
total, the 2011 drill program had 19 high-grade intercepts (minimum 10m)
averaging 13m of 3.3% TREO.
-- The highest grade intercept to date of 6.5% TREO over 8m was drilled at
the north end of the ST1 Zone - well outside of the current resource
model.
-- Wide zones of mineralization at ST1 include 60m of 2.7%, 74m of 2.2% and
66m of 2.0% TREO.
-- An ST19 intercept of 56 m of 2.76 % TREO including 14.0 m of 3.53% TREO.
-- New high-grade system discovered 900m to the north east of the ST1 Zone
in hole SAR11-50 with 14.0m of 3.3% TREO including 4.0m of 7.2% TREO.
Table 1: 2011 Phase Two High-Grade Intercepts at the
ST1 Zone
Inter-
From To section Nd2O3/
Hole ID (m) (m) (1)(m) TREO TREO
---------------------------------------------------
---------------------------------------------------
SAR11-36 192.0 198.0 6.0 2.84 % 14.5 %
---------------------------------------------------
SAR11-37 304.0 316.0 12.0 3.11 % 19.8 %
---------------------------------------------------
SAR11-38 198.0 202.0 4.0 4.28 % 14.7 %
---------------------------------------------------
SAR11-40 36.0 48.0 12.0 2.82 % 16.9 %
---------------------------------------------------
SAR11-42 150.0 158.0 8.0 3.36 % 16.5 %
---------------------------------------------------
SAR11-44 52.0 62.0 10.0 2.68 % 16.0 %
72.0 82.0 10.0 2.70 % 16.5 %
---------------------------------------------------
SAR11-45 28.0 44.0 16.0 2.91 % 17.3 %
70.0 84.0 14.0 4.76 % 14.9 %
---------------------------------------------------
SAR11-56 158.0 166.0 8.0 3.85 % 14.4 %
---------------------------------------------------
SAR11-58 254.0 276.0 22.0 3.95 % 15.8 %
---------------------------------------------------
SAR11-62 134.0 142.0 8.0 4.91 % 14.2 %
---------------------------------------------------
SAR11-64 192.0 198.0 6.0 3.72 % 16.3 %
---------------------------------------------------
SAR11-66 154.0 166.0 12.0 3.68 % 15.0 %
---------------------------------------------------
SAR11- 692 152.0 164.0 12.0 2.07 % 26.8 %
---------------------------------------------------
SAR11-71 134.0 142.0 8.0 6.49 % 13.7 %
---------------------------------------------------
Note 1. The 2011 drill holes at ST1 were generally
drilled at an azimuth of 310 degrees and a dip of
between 45 and 65 degrees. As a result, true widths
for holes SAR11-36, -42, and SAR11-64 are estimated
to be 95% to 80% of reported intersections,
respectively. An estimate of the true width of the
other holes can not be determined until the resource
has been updated.
Note 2. This intersection was added due to the very
high proportion of neodymium in the sample.
James Tuer, Hudson's President, stated, "We are very pleased
with the results from our 2011 Phase Two drill program. We have now
demonstrated that the mineralization extends to the northeast and
have intersected some of our highest grade material as we move in
that direction. A step out hole almost a kilometer north of ST1
intercepted some of our highest grade material to date and confirms
the exploration potential of this largely untested Sarfartoq
carbonatite. Now that all of our 2011 drill results are in we will
be working towards preparing an updated resource model in the
coming months. Based on this years results, we expect to be able to
move resources from the inferred to indicated category and increase
the overall grade of the resource."
The Preliminary Economic Assessment (PEA), which is being
carried out by Wardrop, a Tetra Tech Company, is now expected to be
completed in the next two weeks. Metallurgical test-work is ongoing
at Hazen Research in Colorado and the Saskatchewan Research Council
in Saskatoon. The metallurgical studies are being conducted under
the direction of John Goode, P. Eng. John has extensive experience
in the rare earth industry in North America and China.
The distribution of individual rare earth oxides as a percentage
of the total rare earth oxides from the Phase Two results are
documented in Table 2. The results for the ST1 Zone are consistent
with previous assay results and demonstrate a high proportion of
neodymium oxide to total rare earth oxides. Note that the gross
amount of neodymium oxide is approximately the same at each
location which is important since Hudson currently anticipates
developing the resource primarily as a neodymium mine. Neodymium
prices remain robust with neodymium oxide currently quoted at
US$240/kg, FOB China, and at US$145/kg, within China, according to
www.metal-pages.com.
Table 2: Distribution of Rare Earths in Phase Two Samples
Average
Area Width TREO La2O3 Ce2O3 Pr2O3 Nd2O3 Sm2O3 Eu2O3
-------------------------------------------------------------------------
-------------------------------------------------------------------------
ST1-CARB 31 1.7 % 23.3 % 50.0 % 5.4 % 17.6 % 1.7 % 0.4 %
ST1-E-CARB 7 2.1 % 28.2 % 49.3 % 4.8 % 14.3 % 1.4 % 0.3 %
ST19-CARB 15 3.0 % 33.1 % 48.2 % 4.1 % 11.8 % 1.1 % 0.2 %
Area Gd2O3 Tb2O3 Dy2O3 Y2O3 Other Total
------------------------------------------------
------------------------------------------------
ST1-CARB 0.9 % 0.1 % 0.2 % 0.4 % 0.0 % 100.0 %
ST1-E-CARB 0.9 % 0.1 % 0.2 % 0.4 % 0.0 % 100.0 %
ST19-CARB 0.7 % 0.1 % 0.2 % 0.5 % 0.1 % 100.0 %
Note: "CARB" refers to carbonatite the Company has identified as likely
to be mineralized based on lithology.
Table 3: Complete 2011 Phase Two Drill Results
Azimuth Dip
Elevation Depth (deg- (deg-
Hole ID Area Easting Northing (m) (m) rees) rees)
----------------------------------------------------------------------------
SAR11-51 ST-1 east 485098 7378702 688 311 90 -60
SAR11-52 ST-1 east 485921 7378567 676 259 315 -55
SAR11-53 ST-1 485324 7378541 603 76 130 -45
SAR11-54 ST-1 485324 7378541 603 256 130 -55
SAR11-55 ST-1 south 485760 7378252 676 137 220 -45
SAR11-56 ST-1 485324 7378541 603 207 130 -70
SAR11-57 ST-19E 489119 7370340 590 143 150 -75
SAR11-58 ST-1 485222 7378369 646 311 44 -49
SAR11-59 ST-19E 489119 7370340 590 198 0 -90
SAR11-60 ST-19E 489119 7370340 590 217 15 -82
SAR11-61 ST-19E 489320 7370398 589 238 224 -50
SAR11-62 ST-1 485252 7378419 646 166 130 -75
SAR11-63 ST-19E 489012 7370290 524 210 10 -50
SAR11-64 ST-1 485361 7378381 687 229 315 -63
SAR11-65 ST-19 488101 7370498 553 299 215 -80
Gorge
SAR11-66 ST-1 485322 7378452 647 174 225 -85
SAR11-67 ST-19 488008 7370552 556 232 250 -75
Gorge
SAR11-68A ST-1 485568 7378397 677 18 310 -45
SAR11-68 ST-1 485568 7378397 677 366 310 -50
SAR11-69 ST-1 484980 7378285 550 372 179 -54
SAR11-70 ST-1 485044 7377993 626 314 310 -73
SAR11-71 ST-1 485377 7378547 611 214 57 -80
Intersection Nd2O3/
Hole ID Area From (m) To (m) (m) TREO TREO
--------------------------------------------------------------------------
SAR11-36 ST-1 192.0 198.0 6.0 2.84 % 14.5 %
--------------------------------------------------------------------------
SAR11-37 ST-1 260.0 326.0 66.0 1.96 % 19.5 %
incl. 272.0 286.0 14.0 2.54 % 16.4 %
incl. 302.0 318.0 16.0 2.88 % 19.5 %
incl. 304.0 316.0 12.0 3.11 % 19.8 %
--------------------------------------------------------------------------
SAR11-38 ST-1 140.0 146.0 6.0 2.00 % 15.7 %
and 192.0 204.0 12.0 1.97 % 15.5 %
incl. 198.0 202.0 4.0 4.28 % 14.7 %
--------------------------------------------------------------------------
SAR11-39 ST-1 148.0 204.0 56.0 1.51 % 23.0 %
incl. 154.0 180.0 26.0 1.73 % 21.9 %
and 232.0 252.0 20.0 1.00 % 23.6 %
--------------------------------------------------------------------------
SAR11-40 ST-1 18.0 48.0 30.0 1.67 % 17.8 %
incl. 36.0 48.0 12.0 2.82 % 16.9 %
--------------------------------------------------------------------------
SAR11-41 ST-1 90.0 104.0 14.0 1.53 % 22.2 %
and 124.0 134.0 10.0 0.89 % 27.8 %
--------------------------------------------------------------------------
SAR11-42 ST-1 5.7 28.0 22.3 1.09 % 17.0 %
and 150.0 164.0 14.0 2.61 % 16.9 %
incl. 150.0 158.0 8.0 3.36 % 16.5 %
--------------------------------------------------------------------------
SAR11-43 ST-1 28.0 46.0 18.0 1.86 % 17.7 %
and 60.0 80.0 20.0 1.34 % 21.7 %
and 148.0 188.0 40.0 0.77 % 25.1 %
--------------------------------------------------------------------------
SAR11-44 ST-1 28.0 92.0 64.0 1.44 % 16.7 %
incl. 52.0 62.0 10.0 2.68 % 16.0 %
--------------------------------------------------------------------------
Intersection Nd2O3/
Hole ID Area From (m) To(m) (m) TREO TREO
---------------------------------------------------------------------
incl. 72.0 82.0 10.0 2.70 % 16.5 %
---------------------------------------------------------------------
SAR11-45 ST-1 16.0 90.0 74.0 2.15 % 17.5 %
incl. 28.0 44.0 16.0 2.91 % 17.3 %
incl. 36.0 44.0 8.0 4.04 % 15.4 %
incl. 66.0 86.0 20.0 4.15 % 15.4 %
incl. 70.0 84.0 14.0 4.76 % 14.9 %
---------------------------------------------------------------------
SAR11-46 ST-1 east 148.0 154.0 6.0 2.32 % 15.5 %
and 190.0 194.0 4.0 3.33 % 14.9 %
---------------------------------------------------------------------
SAR11-47 ST-1 east 103.0 109.0 6.0 1.62 % 14.3 %
---------------------------------------------------------------------
SAR11-48 ST-1 east 106.0 121.0 15.0 1.23 % 15.9 %
---------------------------------------------------------------------
SAR11-49 ST-1 east 16.0 22.0 6.0 1.32 % 15.8 %
and 40.0 44.0 4.0 1.55 % 16.8 %
---------------------------------------------------------------------
SAR11-50 ST-1 east 206.0 220.0 14.0 3.26 % 13.0 %
incl. 206.0 210.0 4.0 7.15 % 12.3 %
incl. 216.0 218.0 2.0 5.90 % 12.0 %
---------------------------------------------------------------------
SAR11-51 ST-1 east 282.0 286.0 4.0 1.74 % 18.5 %
---------------------------------------------------------------------
SAR11-52 ST-1 east 203.7 204.9 1.2 5.46 % 13.9 %
---------------------------------------------------------------------
SAR11-53 ST-1 No Significant intersections over 2m
---------------------------------------------------------------------
SAR11-54 ST-1 48.0 58.0 10.0 1.04 % 17.0 %
and 166.0 178.0 12.0 1.06 % 18.5 %
---------------------------------------------------------------------
SAR11-55 ST-1 south No Significant intersections over 2m
---------------------------------------------------------------------
SAR11-56 ST-1 148.0 166.0 18.0 2.08 % 15.4 %
incl. 158.0 166.0 8.0 3.85 % 14.4 %
---------------------------------------------------------------------
SAR11-57 ST-19E 32.0 54.0 22.0 3.04 % 12.6 %
incl. 32.0 46.0 14.0 3.62 % 11.8 %
---------------------------------------------------------------------
SAR11-58 ST-1 30.0 132.0 102.0 0.87 % 16.6 %
incl. 104.0 110.0 6.0 1.85 % 16.5 %
incl. 126.0 132.0 6.0 1.66 % 15.5 %
and 232.0 292.0 60.0 2.65 % 16.3 %
incl. 252.0 288.0 36.0 3.53 % 16.0 %
incl. 254.0 276.0 22.0 3.95 % 15.8 %
---------------------------------------------------------------------
SAR11-59 ST-19E 46.0 50.0 4.0 4.90 % 11.3 %
and 76.0 132.0 56.0 2.76 % 12.5 %
incl. 82.0 104.0 22.0 3.74 % 10.5 %
and 108.0 122.0 14.0 3.53 % 11.9 %
---------------------------------------------------------------------
SAR11-60 ST-19E 54.0 58.0 4.0 2.20 % 11.3 %
---------------------------------------------------------------------
SAR11-61 ST-19E Not Sampled
---------------------------------------------------------------------
SAR11-62 ST-1 60.0 144.0 84.0 1.69 % 17.3 %
incl. 102.0 112.0 10.0 2.21 % 19.0 %
incl. 130.0 144.0 14.0 4.04 % 15.0 %
incl. 134.0 142.0 8.0 4.91 % 14.2 %
---------------------------------------------------------------------
SAR11-63 ST-19E No Significant intersections over 2m
---------------------------------------------------------------------
SAR11-64 ST-1 172.0 214.0 42.0 1.58 % 17.2 %
incl. 192.0 198.0 6.0 3.72 % 16.3 %
---------------------------------------------------------------------
SAR11-65 ST-19 Gorge 272.0 274.0 2.0 3.56 % 12.9 %
---------------------------------------------------------------------
SAR11-66 ST-1 144.0 170.0 26.0 2.34 % 15.8 %
incl. 154.0 166.0 12.0 3.68 % 15.0 %
---------------------------------------------------------------------
From To Intersection Nd2O3/
Hole ID Area (m) (m) (m) TREO TREO
-----------------------------------------------------------------
-----------------------------------------------------------------
SAR11-67 ST-19 Gorge 16.5 18.5 2.0 4.56 % 13.9 %
-----------------------------------------------------------------
SAR11-68A ST-1 Not Sampled
-----------------------------------------------------------------
SAR11-68 ST-1 316.0320.0 4.0 1.65 % 15.7 %
-----------------------------------------------------------------
SAR11-69 ST-1 136.0182.0 46.0 1.37 % 24.4 %
incl. 152.0164.0 12.0 2.07 % 26.8 %
and 258.0268.0 10.0 1.65 % 20.3 %
and 350.0360.0 10.0 2.04 % 19.5 %
-----------------------------------------------------------------
SAR11-70 ST-1 No Significant intersections over 2m
- Hole terminated prior to targeted
mineralization
-----------------------------------------------------------------
SAR11-71 ST-1 128.0144.0 16.0 3.96 % 14.3 %
incl. 134.0142.0 8.0 6.49 % 13.7 %
-----------------------------------------------------------------
Note: All measurements are in metres. Elevation is height above
sea level. All elements reported by Actlabs are in parts per
million (ppm) and have been converted to % oxide. Total Rare
Earth Oxides (TREO) refers to the elements lanthanum through
lutetium plus yttrium expressed as oxides in the form REE2O3.
Drill core was logged and sampled in the field and split core
was shipped to Ancaster Ontario for processing at Activation
Laboratories Ltd. (Actlabs). A strict QA/QC program was followed,
which includes the use of elemental standards, duplicates and
blanks. In cases where the entire hole was not sampled, only
significant drill intersections of carbonate mineralization were
sampled. Core was split in the field with half of the core being
sent to Actlabs and the remaining half stored on-site for future
reference. All samples were analyzed using lithium borate fusion,
acid dissolution and ICP-MS analysis.
The Sarfartoq REE project is located within 20km of tidewater
and only 60km from Greenland's international airport. The project
is owned 100% by Hudson. The Company is currently well financed
with approximately $13 million in working capital.
The ST1 Zone at Sarfartoq represents one of the industry's
highest ratios of neodymium and praseodymium to TREO, totaling 25%,
based on the inferred resource. The ST1 Zone contains over 40
million kilograms of neodymium oxide which is the key component in
permanent magnets and the fastest growth sector of the rare earths
industry.
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.
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.
Contacts: Hudson Resources Inc. James Tuer President
604-628-5002 or 604-688-3415 (604) 688-3452
(FAX)tuer@hudsonresources.cawww.hudsonresources.ca
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