EANS-News: Tantalus Rare Earths AG Results from pitting programme (with
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Company Information/First results received from pitting programme
Düsseldorf (euro adhoc) - Tantalus Rare Earths AG
First results received from pitting programme
(Tantalus Rare Earths AG, Düsseldorf, 27th July 2011) The Directors of Tantalus
Rare Earths AG ("TRE"), the German company exploring an extensive, secondary
rare earth mineralisation at surface and a primary, near surface bedrock rare
earth mineralisation in north-western Madagascar (the "TRE Project"), are
pleased to provide the first assay results from their pitting programme on
Target 4, the Caldera Target.
Target 4 is 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, 155 pits have been
excavated down to maximum depths of 10 m, with another 11 pits currently in
progress. The company initially plans a total of 365 pits on this target. An
earlier reconnaissance soil geochemistry survey indicated the presence of
widespread rare earth mineralisation accompanied by elevated grades of tantalum,
niobium, zirconium and gallium.
The first assay results received from Alschemex, Canada for all four of the pits
confirm the presence of REE bearing argillaceous laterites ("clays") at depth.
The pits reached final depths of 6 to 7 m and were stopped when a shallow
groundwater horizon was encountered. Three out of the four pits were
mineralised. In two pits, the TREO grades increase with depth. Deeper drilling
will be required to determine the true thicknesses of the REE bearing clays and
to investigate the possible bedrock mineralisation of these anomalous grades.
Diamond drilling on this target, and others, is scheduled for the 2nd half of
2011.
The maximum TREO grade encountered was 0.29%. The percentage of the more
valuable heavy rare earth oxides averaged between 12 and 26% of TREO, with a
maximum ratio of 35 %. Niobium, tantalum, tin, gallium and zirconium are also
enriched and could constitute possible by-products at a later stage. Uranium and
thorium levels are very low, reducing future environmental risks.
Elsewhere on the property, exploration activities are being continued at an
increased speed. On Target 1, the Ampasibitika Prospect, a total 13,140 m of
diamond drilling has been completed to date. On Target 3, the Befitina Prospect,
55 pits have been completed and another 21 are in progress. Along the southern
extension of Target 1, on Ampasibitika South (Target 5), pitting has commenced
with 12 pits completed and 5 pits in progress. More geologists are currently
being hired, and the pitting programme on Target 2, Ambaliha, is due to commence
in late July. With the arrival of man portable drill rigs ("window samplers"),
pitting will partly be replaced by this faster and less invasive sampling
technique.
TRE has appointed metallurgical consultants to carry out tests on the REE
bearing clays. The aim of this test work is to identify as soon as possible a
low-cost extraction process through leaching or combined magnetic/gravity
separation.
More than 1500 assay results from the ongoing diamond drilling programme on
Target 1 and the pitting/window sampling programmes on Targets 3, 4 and 5 are
expected to be with the company within the next few weeks.
Commenting on these results, Wolfgang Hampel, Chief Geologist and COO of
Tantalus Rare Earths AG said:
"These results are a very important step forward in order to define a very high
tonnage, low grade REE resource. They further confirm our assumption that in
fact most of the 170 km² sized area underlain by alkaline intrusives could be
covered by an almost continuous layer of REE bearing argillaceous laterites.
Given the huge tonnage, the other target elements could also constitute valuable
by-products. The thorium and uranium grades are so low, that we will face no
environmental issues with these radioactive elements."
At the current speed of exploration activities, the Directors of Tantalus expect
to be able to publish their first NI 43-101 compliant resource estimates in
early Q4 of this year. By the end of calendar 2011, we hope to be able to give a
resource estimate for some 50 % of the total surface area overlain by REE
bearing clays.
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 early 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
feasiblity 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@tre-ag.com
Internet: http://www.tre-ag.com/
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Further inquiry note:
Ivan Murphy, Executive Director
c/o Blythe Weigh Communications Tel: +44 (0) 207 138 3204
Matthew Neal or Paul Weigh
Blythe Weigh Communications Tel: +44 (0) 207 138 3204
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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