EANS-News: Tantalus Rare Earths AG 2nd new high grade REE mineralisation found
- Update on results from Target 4 (with document)
--------------------------------------------------------------------------------
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