EANS-News: Tantalus Rare Earths AG
New high grade REE mineralisation found -
First results received from pitting programme on Target 5 (with document)
24.08.2011 – 09:02
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information/Drilling results from programme on Target 5 Düsseldorf (euro adhoc) - New high grade REE mineralisation found - First results received from pitting programme on Target 5 (Tantalus-AG, Düsseldorf, 24 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 the first assay results from their pitting programme on Target 5, the Ampasibitika South Target. Target 5 is the southern extension of the Ampasibitika prospect where diamond drilling has been taking place since July 2010. This prospect has a total surface area of 4.5 km². Outcrops are scarce due to the presence of thick argillaceous laterites ("clays"). The target area is suspected to be underlain by dykes of REE-bearing alkaline igneous rocks which intruded into sediments. In June 2011, TRE commenced an extensive pitting programme on this target. To date, 69 pits have been excavated with another 5 pits currently in progress. The company initially plans to excavate a total of 140 pits on this target. The first assay results received from ALS Chemex, Canada for 15 of the pits confirm that the argillaceous laterites are indeed rare earth bearing. The pits reached maximum depths of 10m or were stopped when groundwater or bedrock was encountered. Eight out of the 15 pits appear to have ended in mineralisation. Additionally, the TREO grades increase with depth. The highest TREO grade encountered in the channelled pit samples is 0.37% over 0.50m. The percentage of the more valuable heavy rare earth oxides averaged per pit between 11 and 27% of TREO, with a maximum ratio of 32%. 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. Most importantly, pit TPIT026 revealed bedrock REE mineralisation at a depth of -5.60 m with a TREO grade of 1.68%. This rare earth mineralisation appears to have different characteristics from the other primary REE mineralisation identified so far. It is particularly poor in cerium but very rich in neodymium, praseodymium, samarium, europium, gadolinium, terbium, dysprosium and yttrium. It is also associated with less Zr, Ta, Nb, Ga and Sn. Uranium oxide and thorium oxide attain only very low levels of 2 and 9 ppm respectively. This exciting primary REE mineralisation will be subject to diamond drilling later this year. Elsewhere on the property, exploration activities are advancing rapidly. On the Ampasibitika Prospect (Target 1), a total 15,580m 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), 180 pits have been excavated so far, with another 12 currently in progress. At the Caldera prospect (Target 4), after completing a total of 186 pits, pitting was interrupted in order to excavate two deep trenches on a new high-grade bedrock REE mineralisation which will be subject of a forthcoming press release later this month. Commenting on these results, Wolfgang Hampel, Chief Geologist and COO of Tantalus Rare Earths AG said: "The newest results are very exciting. Not only that we now can confirm the presence of REE bearing argillaceous laterites on a new zone, but also that we have identified an additional type of primary rare earth mineralisation. It is high grade and the partition of the REE is highly advantageous with very low cerium contents and high grades of dysprosium, praseodymium, europium, neodymium and others. This target certainly justifies diamond drilling in addition to the ongoing sampling of the overlying REE bearing argillaceous laterites." 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 5 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/d7gwWoM0 http://resources.euroadhoc.com/us/wwLLzgzo Further inquiry note: For further information contact: Ivan Murphy, executive director TRE 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/d7gwWoM0 http://resources.euroadhoc.com/us/wwLLzgzo 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