EANS-News: Tantalus Rare Earths AG
2nd new high grade REE mineralisation found
- Update on results from Target 4 (with document)
30.08.2011 – 09:02
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information/Drilling update Düsseldorf (euro adhoc) - 2nd new high grade REE mineralisation found - Update on results from Target 4 (Tantalus-AG, Düsseldorf, 30. August 2011) The Directors of Tantalus Rare Earths AG ("TRE"), a German company exploring an extensive area of secondary rare earth mineralisation at surface and primary, near-surface bedrock rare earth mineralisation in north-western Madagascar (the "TRE Project"), are pleased to announce an update on new assay results from their pitting programme on Target 4, the Caldera Target. Target 4 encompasses the inner part of the south-eastern Ampasibitika Intrusion. The caldera measures approximately 7 km in diameter and has a total surface area of some 31 km². It is underlain by alkaline igneous rocks intermixed with smaller portions of sediments into which they intruded. In April 2011 TRE commenced an extensive pitting programme on this target. To-date, 186 of the 365 planned pits have been excavated. New assay results received from ALS Chemex, Canada for 39 more pits confirm the presence of a near-surface rare earth enriched zone and substantiate the economic potential of the target. The pits reached maximum depths of 10m or were stopped when groundwater or bedrock was encountered. At least 10 out of the 39 pits appear to have ended in mineralisation. Additionally, the TREO grades increase sharply with depth. The highest TREO grade encountered is 0.48% over 0.50m. The percentage of the more valuable heavy rare earth oxides varies between 9 and 32% of TREO, with a maximum ratio of 42% in one sample. Where the underlying bedrock is composed of alkaline igneous rocks, the average TREO content reached up to 0.21 %. Pit n° 074 revealed bedrock REE mineralisation at a depth of -3.00 m with a TREO grade of 1.85%. The results to data indicate that niobium, tantalum, tin, gallium and zirconium are partly enriched and potentially constitute economic by-products. Significantly, uranium and thorium levels are very low, reducing future mining and environmental risks. In response to the discovery of high-grade bedrock-hosted REE mineralisation, all pitting on Target 4 has been suspended. Instead, two trenches, each 100 m long and 6 m deep, are being currently excavated over the bedrock mineralisation. After logging and sampling of the trenches, pitting will resume. Elsewhere on the property, exploration activities are advancing rapidly. On the Ampasibitika Prospect (Target 1), a total 15,900m of diamond drilling has been completed to date. An update on the drilling progress and the results will follow and be presented before the end of this month. On the Befitina Prospect (Target 3), 185 pits have been excavated so far, with another 11 in progress. At the Ampasibitika South prospect (Target 5), 75 pits have been excavated to date, with another 6 in progress. Commenting on these results, Wolfgang Hampel, Chief Geologist and COO of Tantalus Rare Earths AG said: "The pitting results substantiate the enormous potential of Target 4 to represent a large tonnage, low grade REE resource. The discovery of high-grade bedrock REE mineralisation, which has similar characteristics to the new mineralisation type from Target 5, is amazing. Earlier, French, Malagasy and Russian explorers considered this part of the intrusion to be non-prospective for REE mineralisation. Before we start drilling, we will do more pitting and trenching on this target to improve our knowledge of the geological setting." The summary table showing the TREO, % of HREO, niobium oxide, tantalum oxide, tin, gallium, zirconium oxide, uranium oxide and thorium oxide from four pits on Target 4 is attached to this release as a PDF.. Notes to Editors 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 argillaceous laterites 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 argillaceous laterites. 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 NI 43-101 compliant mineral resource estimate and support a detailed feasibility study towards 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 Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/Uz551T1M Further inquiry note: for further information please contact: Ivan Murphy, Director TRE AG, Tel: +44 (0) 20 3214 9930 Ana Ribeiro Blythe Weigh Communications Tel: +44 (0) 207 138 3206 or +44 (0) 7980 321 505 end of announcement euro adhoc -------------------------------------------------------------------------------- Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/Uz551T1M 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