EANS-News: Tantalus Rare Earths AG Maiden JORC Resource of 130 million tonnes
for TRE Project
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Company Information/Maiden JORC Resource
Düsseldorf (euro adhoc) - Maiden JORC Resource of 130 million tonnes for TRE
Project
Tantalus Rare Earths AG ("TRE"), a German company exploring an extensive area of
rare earth ("REE") mineralisation on the Ampasindava Peninsula in north-western
Madagascar (the "TRE Project"), is pleased to announce a maiden JORC compliant
resource for part of the Lateritic Clay deposits within the Concession Area.
SRK (UK) Ltd (www.srk.co.uk) has completed the analysis of the available pitting
and drilling results as at 16 November 2011. On this basis they have estimated
an Inferred Mineral Resource of 130Mt of Rare Earth Oxide ("REO") bearing
Lateritic Clays with an average grade of 0.08% REO.
Mineralogical and process test works are still at an early stage. However, there
are encouraging indications that the mineralised material has similarities with
the ion absorption clays found in China. These ion absorption clays are the
world's largest source of the less commonly occurring and more highly priced
"heavy" Rare Earth Oxides. Analysis of the TRE material has shown that
approximately 20% of the REO's are in the "heavy" category. In addition, the
relatively low Uranium and Thorium content of the mineralisation is seen as a
major positive factor for the project.
The area and depth extent of the Inferred Mineral Resources represent only a
proportion of the total prospective area and TRE is confident that further
increases in resources are possible.
It should also be noted that the Lateritic Clays represent only one out of
several styles of mineralisation which have been identified at the TRE Project.
Drilling of the mineralised flat lying alkali intrusions is well advanced and
the company has recently identified potentially higher grade mineralisation in
breccia material at shallow depth, underlying the Laterites in the main Caldera
area. A first stage drilling programme on these breccias has recently been
completed and results are awaited.
The issue of this maiden JORC compliant Inferred Mineral Resource represents a
major milestone for the TRE Project. It confirms the project has the scale and
grade to justify proceeding to the next stage of technical evaluation, plus
provides strong indications of the potential for additional resources both
within the Lateritic Clay material and in other styles of mineralisation.
For a copy of the full SRK report please visit our website: www. tre-ag.com.
About Tantalus Rare Earths ("TRE")
TRE is a German incorporated holding company whose subsidiaries are engaged in
the exploration and development of rare earths. TRE's shares are quoted on the
Open Market of the Frankfurt Stock Exchange.
TRE's principal asset is an exploration project located in north-western
Madagascar and comprises rare earth-tantalum-niobium-zirconium-hafnium enriched
dykes and sills and Rare Earth Element ("REE") bearing Lateritic Clays derived
from the weathering of underlying alkaline intrusives.
There are numerous indications that most of the alkaline intrusive bodies within
the concession are overlain by REE bearing Lateritic Clays. TRE is therefore
considering the whole area underlain by alkaline intrusives (150 to 170 sq km)
as prospective for secondary REE mineralisation in the weathering crust.
The exploration programme aims to define the primary (vein/skarn hosted) and
secondary (argillaceous Laterites) mineralisation present on the concession
towards a JORC compliant mineral resource estimate and support a initiation of
the staged technical and economic studies which could lead to mine development
and production.
Tantalus Rare Earths AG
Berliner Allee 12
40212 Düsseldorf
Deutschland
Telefon: +49 (0) 211 52391 430
Telefax: +49 (0) 211 52391 200
e-Mail: contact [at] tre-ag.com
Internet: http://www.tre-ag.com
Further inquiry note:
For further information contact:
Peter Davies, Technical Director Tel: +61 (0) 40 929 6676
Email: davies@tre-ag.com
Ana Ribeiro Blythe Weigh Communications Tel: +44 (0) 207 138 3206
or +44 (0) 7980 321 505
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: Tantalus Rare Earths AG
Berliner Allee 12
D-40212 Düsseldorf
phone: +49 (0)211 52391 430
FAX: +49 (0)211 52391 200
mail: contact [at] tre-ag.com
WWW: http://www.tre-ag.com
sector: Holding companies
ISIN: DE000A0SMSL4, DE000A1KRQE7
indexes:
stockmarkets: free trade/entry standard: Frankfurt
language: English