Symbol
TSX-V : RES
Rare Element Resources Ltd (RES: TSX.V) is a publicly traded company having 100% interest in the Bear Lodge property, which contains extensive gold occurrences as well as the largest disseminated REE deposit in North America (US Geological Survey Professional Paper 1049D).
Rare Element Resources’ Bear Lodge property in Wyoming contains extensive gold occurrences in a large alkaline-igneous complex and significant high-grade rare-earth elements (REEs) in carbonatite dikes within the same complex.
Newmont North America Exploration Limited, a subsidiary of Newmont Mining Corporation, is earning a 65% interest in the gold and base metals (excluding REEs and uranium) at the Company’s Bear Lodge property by spending $5 million on exploration.
Recent drilling results from Bear Lodge indicate thick intercepts of near-surface gold mineralization with some of the better results including:
6.1 m of 1.10 g/t Au; 9.1 m of 1.18 g/t Au
12.2 m of 1.09 g/t Au; 9.1 m of 1.17 g/t Au;
62.5 m of 0.66 g/t Au (includes 36.6 m of 1.35 g/t);
45.7 m of 0.66 g/t Au (includes 13.7 m of 1.33 g/t);
Newmont’s permitting efforts are progressing smoothly, and include a Plan of Operation that will allow a greatly expanded drill program on up to 200 acres of disturbance and may be approved in the second half of 2008.
The Company’s 2008 REE-exploration program includes continuing drilling and metallurgical studies with the goal of establishing an NI 43-101-compliant resource of the rare-earth elements.
Rare Element Resources Ltd.
Suite 410 – 325 Howe Street
Vancouver, BC V6C 1Z7
Tel: 604.687.3520 EX 229
Fax: 604.688.3392
Symbol: TSX-V:RES
Contacts:
Donald E Ranta, President & CEO
(604) 687-3520
don@rareelementresources.com
Mark T. Brown, CFO
mbrown@rareelementresources.com