Ucore Confirms Widespread Rare Earth Mineralization in Central Alaska
16 Janvier 2012 - 3:38PM
Marketwired
Ucore Rare Metals Inc (TSX VENTURE:UCU)(OTCQX:UURAF) is pleased to
announce results of reconnaissance sampling on the Company's
extensive alluvial rare earths (REE) and tin multi-metal property
holdings in the Ray Mountains area of central Alaska
(http://ucore.com/projects/ray-mountains-alaska). Sample results
from late summer field investigations point to potential economic
grade concentrations in at least three drainage basins: the upper
Kilolitna River, the Ray River, and No Name Creek. Each of these
exhibits numerous surface exposures of alluvial gravel and sand
containing a threshold of at least 0.15 kg/cubic meter (0.22
lbs/cubic yard) of REE and/or tin (Sn), along with by-product
concentrations of tungsten (W), zirconium (Zr), niobium (Nb), and
tantalum (Ta). Locally samples contain up to 1 kg/m3 each of Sn and
REE in the extensive floodplain of the Ray River. Mineralized
sediments from No Name Creek and the Caribou Heights prospects
contain up to 9 kg Sn/m3.
The sampling program has rendered heavy mineral concentrates
composed primarily of ilmenite with cassiterite, monazite with
lesser xenotime, zircon, wolframite (ferberite end-member), and
trace amounts of allanite, scheelite, and yttrofluorite. The
concentrates contain up to 50% Sn, up to 10% total REE (TREE), and
0.01 to 1.0% W, Ta, and Nb. Heavy rare earth elements (HREE's),
including Tb, Dy, Er and Y, compose 15 to 25% of the TREE in the
majority of samples, with the notable exception of localized areas
such as No Name Creek valley, which delivered TREE content
comprised of up to 60% HREE's.
"With the cooperation of the State of Alaska, Ucore continues to
expand and advance its rare earth holdings in the most prospective
areas of the state" said Jim McKenzie, President and CEO of Ucore.
"The intent is to establish Alaska as the leader in American heavy
REE exploration, extraction and development. The Ray Mountains
project has select areas rivaling HREE content at our Bokan
property, and the remarkable advantage of collateral tin, niobium
and tantalum mineralization which enhances prospective values per
ton. Ucore will be advancing the Ray Mountains area as a priority
exploration target as it transitions its Bokan flagship into mine
development."
Most samples collected during the 2011 field program consisted
of one or more 5-gallon buckets (0.0133 m3) of material that was
later concentrated on a standard shaking table. This procedure
achieved an estimated 75 to 80% recovery of heavy minerals
including REE-bearing minerals such as monazite and xenotime, thus
demonstrating amenability to physical separation in a full scale
mine plant. This simple gravity separation method uses only water
as the separation medium. Further, extraction technology of REE
from a monazite-xenotime placer concentrate is already well known
and does not present new metallurgical challenges. The smaller
samples were panned by experienced personnel.
Sample details, including original volumes, the recovered weight
of heavy mineral, rare metal analyses, and the calculated grams of
TREE and Sn per cubic meter can be accessed at
http://ucore.com/projects/ray-mountains-alaska. All samples were
analyzed by ALS Minerals, Inc. in Vancouver, using lithium
metaborate fusion followed by ICP-MS analyses. Overlimit metal
concentrations were further assayed by X-ray fluorescence
procedures preceded by sample fusion.
The Ray Mountains region of central Alaska features an extensive
sheet of alluvial sediments locally 100 m (325 ft) thick. The
alluvial deposits, containing concentrations of REE, Sn, W, Zr +/-
Nb, Ta heavy minerals, are primarily derived from granitic source
rock of the Ruby Batholith, and they are most abundant in the lower
elevation terrain between the Ray Mountains and the northern Fort
Hamlin Hills.
Through a wholly owned operating subsidiary, Ucore holds claims
on land selected for its mineral resource potential by the State of
Alaska as part of the state's land entitlement under the 1958
Alaska Statehood Act. Ucore is planning expanded exploration once
title transfer is tentatively approved by the federal
government.
The Ray Mountain area is accessed by the Dalton Highway from
Fairbanks and barge service is seasonally available along the Yukon
River connecting directly to the Alaska Railroad freight yard at
Nenana.
Background
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 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 expediting mine
production 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.
However, a number of other occurrences of REE mineralization are
also located within, or at the margins of the complex. Viewed in a
geological and geophysical context, the Bokan complex is a
distinctive circular structure and is highly prospective for rare
earths deposits.
James C. Barker, P. Geo., has reviewed the technical data
relative to the surface sample assays referenced herein and is the
qualified person responsible for their accuracy.
Contacts: Ucore Rare Metals Inc. Mr. Jim McKenzie President and
Chief Executive Officer (902) 482-5214 www.ucore.com
Ucore Rare Metals (QX) (USOTC:UURAF)
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