EANS-News: Tantalus Rare Earths AG
Maiden JORC Resource of 130 million tonnes
for TRE Project
20.12.2011 – 14:07
-------------------------------------------------------------------------------- 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