The company believes this stockpile contains at least 10 to 12 tons of highly concentrated rare earths enriched material.
The company also said that for purposes of exploration, it plans to reopen existing adits, horizontal tunnels extending underground more than 400 meters or 1,300 feet which are known to intersect one of the largest identified mineralized veins of heavy and critical rare earths located within the continental
In 2012, 2013, and 2014, the company conducted extensive exploration-related field work. Work began in 2012 with the detailed independent evaluation of the company's extensive historic data warehouse, as well as other detailed historic mapping of its claims and prior geologic field work, including both historic and new channel, core and grab sampling, core drilling, and metallurgical and chemical engineering data collection activities.
All of the company's field work was compiled using NI 43-101 compliant methods, including work at the Last Chance,
The stockpile was extracted by
The company said that its exploration teams and extensive field work have verified the richness of all of its other historic data. In addition, the teams provided new exploration data, especially in the targeted areas of the Last Chance,
"It is really exciting to be part of the team that realizes access and exploration to the company's Last Chance project, which is believed to have the only known rare earth underground workings in
Additionally the company completed its latest on-site field review with
Rare Earth element minerals were extracted previously by IERCO during its historical underground adits (tunneling) activities associated with rare earth exploration on the Last Chance vein. Historical data indicates that substantial amounts of rare earths are held in the stockpile.
"We are delighted to have been granted permission to access and remove the 10 to 12 tons of material from this stockpile," said
Earlier this year, the company announced that it had completed preliminary exploration and assessment of a portion of its claims in
Rare earth elements are critical to many existing and emerging 21st century applications including clean-energy technologies such as wind turbines, hybrid cars and electric vehicles; high-technology applications including cell phones and digital music players; hard disk drives used in computers; microphones; fiber optics; lasers; and in addition, critical defense applications such as global positioning systems, radar and sonar; and advanced water treatment applications, including those for industrial, military, homeland security, domestic and foreign aid use.
For more information visit www.usrareearths.com
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