Ucore Initiates Bulk Sample in Preparation for Production Scale Testing
June 14, 2012 – Ucore Rare Metals Inc. (TSX-V:UCU|OTCQX:UURAF), (“Ucore” or the “Company”) is pleased to announce that custom processing has been initiated on a 20 ton bulk sample extracted from three sites along its Bokan Mountain rare earth deposit in Southeast Alaska. Excavating the metallurgical sample was approved by a Decision Memorandum on July 1st, 2011 from the US Forest Service.
This past week, a local Ketchikan contractor was retained to crush and segregate the material into 4 specified size fractions. The individual samples will now be transported to Germany to be processed through a production scale X-ray sorter to prepare an upgraded ore sample for future metallurgical testing.
“Ucore is now progressing to further metallurgical testing and a pilot plant for the metal recovery section of the circuit to give us the information required for a Feasibility Study,” said Ken Collison, COO of Ucore. “Our previous work on X-ray ore sorting has shown significant Capex and operating cost advantages, and we’re anxious to optimize those advantages. Previous production scale sorter tests showed that 50% of the material mined will be rejected as waste, while recovering approximately 97% of the rare earth metal content. This is a significant advantage, since a 1,500 tonne per day mine will theoretically require only a 750 tonne per day mill. Our plan is to conduct the majority of pilot scale test work in 2012.”
Randy MacGillivray, the Environment and Community Relations Director said “I’m very excited about the Bokan project due to its favorable geochemistry, and mining and milling method which will require that 100% of the tailings be placed back underground as backfill and the fact that we are developing a Community Plan which will focus on having local people and businesses involved in the project. Using a local Ketchikan based contractor to prepare and ship this sample for us is in line with our commitment for local hire and procurement. Obtaining and processing a 20 ton metallurgical bulk sample is a significant milestone for the Bokan Project as we transition from an exploration project to a development project.”
The forthcoming production scale research will supplement prior bulk testing conducted by Ucore (see Ucore press release dated March 6, 2012). It will additionally advance the preliminary metallurgical flow sheet which will be included in the Company’s forthcoming Preliminary Economic Assessment, expected to be released within the next 30 days.
About Ucore Rare Metals Inc.
Ucore Rare Metals Inc. is a well-funded development-phase mining company focused on establishing rare metal resources with near term production potential. 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 REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in developing near term production facilities and limiting the capital costs associated with mine construction.
The Bokan properties are located in an area reserved for sustainable resource development 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 Bokan peralkaline granitic complex. Viewed in a geological and geophysical context, the Bokan complex is a distinctive circular structure and is highly prospective for rare earths deposits.
For further information, please contact Mr. Jim McKenzie, President and Chief Executive Officer of Ucore Rare Metals Inc. at: (902) 482-5214 or visit http://www.ucore.com
Signed “Jim McKenzie”
Jim McKenzie, President and CEO
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.