Ucore Field Program Continues to Delineate Heavy Rare Earth Mineralization at Bokan
November 29, 2010 – Ucore Rare Metals Inc (TSX-V:UCU) (“Ucore” or “the Company”) is pleased to release initial assay results from Ucore’s 2010 Field Program at the Bokan-Dotson Ridge rare earth project in southeast Alaska (“Bokan”). The Field Program, comprised of extensive surface trenching and channel sampling, was undertaken to supplement subsurface drilling, and to obtain a greater understanding of overall deposit dimensions at the Dotson Zone.
The 2010 Field Program confirms that the Dotson Zone, with an average aggregate width of approximately 50 metres, contains a minimum of 25 mineralized dikes and veins. The zone dips steeply to the north, with a delineated strike length of 2140 m and a defined vertical extent of 450 m. The zone is open both at depth and on strike.
Significant results of the channel sampling program are listed below:
Trench Width TREO HREO
m (wt.%) (%)
TR-4 2.04 0.507 45%
TR-7 2.05 0.328 59%
TR-8 3.04 0.402 33%
TR-10 3.07 0.456 67%
TR-16 2.86 0.406 46%
TR-17 7.20 0.485 37%
TR-18 2.10 0.461 46%
- TREO = Total rare earth oxides: LREO + HREO
- LREO = Light rare earth elements: La, Ce, Pr, Nd, and Sm as oxide
- HREO = Heavy rare earth elements: Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu, and Y as oxide
- % HREO = HREO as percent of TREO (HREO/TREO)
- Samples were collected using manual methods and are limited in extent by the depth of overburden in some cases.
- All widths are apparent widths and may be less than true width of mineralization at surface.
“The purpose of this Field Program has been to establish the summary characteristics of the mineralized system at the Dotson Zone, including localization, dimension, shape and overall consistency of the REE concentrations across the area,” said Jim McKenzie, President & CEO of Ucore. “The results confirm the highly anomalous heavy rare earth enrichment at Bokan; among the highest heavy rare earth skews on record in North America and worldwide. They also confirm the consistent nature of the mineralization throughout, again surpassing the historical geological model for the Bokan area as set out by the U.S. Bureau of Mines. This data will additionally augment the generation of a NI 43-101 compliant resource estimate for the zone, due in the near term.”
A recent report by the U.S. Geological Survey, issued November 2010, summarizes the major rare earth deposits within the United States (USGS, Bureau of the U.S. Department of the Interior;The Principal Rare Earth Elements Deposits of the United States; Report 2010–5220). The report concludes that the heavy rare earth enriched mineralization at Bokan could have considerable economic potential.
The observations of Ucore’s 2010 Field Program support the conclusions of the USGS, indicating that the vein-arrays of mineralization of the Dotson Zone are of anomalously high HREE content and of mineable widths. As reported in the Ucore press release of November 16, 2010, the vein system has a high potential to be mined both efficiently by well-proven methods and with minimal environmental impact.
The 2010 Field Program assays are consistent with the findings of Dr. Anthony Mariano of Carlisle, Mass., and SGS Laboratories of Lakefield, Ontario (an NI 43-101 compliant report; see Ucore press release dated April 8, 2009). The SGS studies demonstrated that the REE minerals can be effectively liberated via physical separation methodologies. The SGS and Mariano studies additionally concluded that the bulk of REE mineralization is present in minerals such as bastnaesite and iimorite, which are relatively easy to “crack” or break apart into their elemental constituents. A summary mineralogical and metallurgical report, augmenting the SGS and Mariano studies, as well as prior metallurgical work performed by the USBM laboratories in Salt Lake City, Utah (Green and Harbuck, 1996; see Ucore press release dated Sept 3, 2009), is pending from Hazen Research of Golden, Colorado in the near term.
NI 43-101 Compliance
The channel samples were cut with a diamond blade saw at approximately 90o to the strike of the same steeply-dipping vein structure of the Dotson Zone. Reported values are length-weighted averages from multiple samples. True width is estimated to be between 80-90% of the reported sample width. Sample containers were sealed and the chain of custody was maintained throughout transport. The QA/QC program included the insertion of certified standards and blanks in the submitted sample shipments and laboratory insertion and analyses of standards and blanks, duplicates and re-splits. Analyses were made by inductively-coupled plasma mass spectrometry with lithium metaborate fusion, reporting whole rock analyses as an additional quality control measure. Mike Power, P.Geo. (BC), CPG (AIPG), an independent geologist with Aurora Geosciences (Alaska) Ltd., has prepared the technical data relative to the drill assays provided herein and is the qualified person responsible for their accuracy.
Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. With multiple projects across North America, Ucore’s primary focus is the 100% owned Bokan – Dotson Ridge REE property in Alaska.
The Bokan – Dotson Ridge project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has a direct ocean access to the western seaboard and the Pacific Rim. The property is located in an area reserved for sustainable resource development. The project area is served by a barge and float plane from Ketchikan, with an existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson Ridge project occurs in a well-demarcated vein system related to a Mesozoic peralkaline granitic complex. The Bokan – Dotson Ridge project is the only rare earth project currently documented worldwide which is situated on immediate deep water access, considered a significant advantage in expediting mine production and limiting the capital costs associated with mine construction.
In 1989, a U.S. Bureau of Mines study (Warner & Barker, USBM OFR 33-89) estimated that the greater Bokan area contains 37.8 million tons grading 0.50% TREO. This historical non NI 43-101 compliant estimate equates to 374 million lbs of TREO and ranks as one of the most prospective and accessible heavy rare earth prospects in North America. The Warner & Barker report additionally concluded that there is a significant collateral mineralization of Nb at Bokan.
In 1996, a USBM study (Green & Harbuck) concluded that: “The Bokan Mountain area on Prince of Wales Island, AK, contains vast quantities of heavy rare earth minerals.” The report went on to conclude that the liberation of ytttium, considered a proxy for the prospective liberation of all HREE’s, is highly amenable to metallurgical cracking methodologies.
Readers are cautioned that the resource estimates quoted by the US Bureau of Mines were prepared prior to the implementation of National Instrument 43-101 and are therefore of a historical nature. A qualified person has not done sufficient work to classify the historical estimate contained hereunder as current mineral resources. The Company is not treating the historical resource estimate as a NI 43-101 defined resource or reserve, and therefore the historical resource estimate should not be relied upon.
For further information, please contact Mr. Jim McKenzie, President and Chief Executive Officer of Ucore Rare Metals Inc. at: (902) 482-5214.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.