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Rare Earth Exploration Update SPECIAL PULL-OUT SECTION ON GOLD Volume 8 Issue 4 RARE EARTH EXPLORATION UPDATE Examining Bill C-300 p.28 Natural gas in Québec p.53 Exploring Peru & Dominican $ Republic 5.95 CDN / US No.40845066 Publications Mail Agreement www.resourceworld.com www.resourceworldtv.com Don Bubar, President/CEO, Avalon Rare Metals Inc. INVESTORPage KITS 60 The rare earth exploration sector is heating up as many TSX Venture Exchange companies fan out across the globe acquiring prospects in the search for hi-tech metals RARE EARTH exploration update by Ellsworth Dickson s could be witnessed at the eign investment regulator. Lynas owns the is due out shortly. Below is a selection recent Prospectors & Developers world’s richest rare earth deposit at Mount of exploration and project updates for a A Conference in Toronto, there was Weld in Western Australia. The Australia number of rare earth explorers and mine a tremendous interest in rare earths on government said China’s ownership must developers. the part of both explorers and investors. be less than 50% and Chinese directors Alkane Resources Ltd. [ALK-ASX], based Speaking engagements by market ana- must not take up more than half the board. in Perth, Western Australia, is exploring the lysts, following the rare earth sector, drew Rare earths are critical for the manu- Dubbo Zirconia Project in New South Wales, standing room only crowds eager to gain facture of green-related products such as Australia. The project, which has good valuable knowledge as to how to play this hybrid and electric cars, wind and tidal infrastructure, hosts measured resources important and fast-developing sector. power, flat screen displays and monitors, down to 55 metres of 35.7 million tonnes China controls about 95% of world rare speaker magnets – the list goes on. In 2008, grading 1.96% ZrO2 (zirconium), 0.46% earth production and is increasingly reluc- global demand was 124,000 tonnes Total Nb2O5 (niobium), 0.03% Ta2O5 (tantalum), tant to sell rare earths to the rest of the Rare Earth Oxides (TREO) worth US $1.25 0.14% Y2O3 (yttrium), 0.75% Rare Earth world. A shortage is likely to develop in the billion. The forecast demand for 2014 is Oxides, 0.04% HfO2 (hafnium) and 0.014% future unless other viable rare earth depos- 200,000 tonnes TREO valued at US $2-3 U3O8 (uranium). There is another 37.5 mil- its are found and brought to production. billion, assuming a 10% per annum growth lion tonnes of inferred resources at similar In a related matter, in September 2009, rate and not including demand from new grades. Although the mineralization is not China cancelled a $500 million investment technologies. classified as a radioactive deposit, it contains in Australia rare earth company Lynas Concerned about a secure supply of rare 23 million lbs. uranium. Production of ura- Corp. after not being able to satisfy the earths, the US Congress commissioned a nium is not allowed in New South Wales. A requirements imposed by Australia’s for- government report on the subject which feasibility study has been completed and a 16 www.resourceworld.com APRIL 2010 LEFT: Michael Lafferty (Fort Resolution, camp intersected 43.0 metres of high-grade REE TREO, or total rare earth oxides, refer to assistant), left, and Angus Lockhart (LutselK’e, mineralization in the Basal Zone averaging the elements lanthanum to lutetium, plus camp assistant) in front of the Avalon Rare Metals exploration camp at Thor Lake located 1.89% TREO with 27.2% HREO. yttrium, expressed as oxides. See Avalon’s 100 kilometres southeast of Yellowknife, The heavy rare earth elements Basal website for conversion factors from ele- Northwest Territories. Photo courtesy Avalon Zone hosts indicated resources of 9 million ments to oxides. Heavy rare earth oxides Rare Metals Inc. tonnes grading 1.86% TREO with 23.1% (HREO) refer to the elements europium to being HREO. Inferred resources stand at lutetium, plus yttrium, expressed as oxides development commitment is expected late 60 million tonnes grading 1.96% TREO. as a percentage of the TREO. Light rare this year. A pre-feasibility study by Scott Wilson earths (LREO) refer to the elements lantha- Artha Resources Corp. [AHC-TSXV] RPA is advancing and on track for spring num to samarium, expressed as oxides. has staked over 60,000 hectares in Jujuy 2010 completion. The study is evaluat- and Salta Provinces in northwest Argentina ing a potential initial mining rate of 1,000 joint business opportunities including that are prospective for a variety of light tonnes per day and rising to 2,000 TPD. A environmental remediation work related to and heavy rare earths elements, includ- 1,600-metre decline (sloping tunnel) would historical exploration activities. Committed ing yttrium. Rare earth mineralization access the ore body 200 metres below to the principles of environmental and observed at the Susques property, which surface. social responsibility, Avalon was the first covers more than 20,000 hectares in south- Avalon holds other rare earth and rare junior exploration company to formally ern Jujuy Province, is hosted in stockwork metals projects, including the Separation adopt PDAC’s e3 Plus principles and guide- veins with the host structures up to 10 Rapids Lithium Project, the Lilypad Lakes lines as policy of the company. metres wide and over six kilometres in Tantalum Project and the Warren Township “Avalon is honoured to accept PDAC’s strike length. Exploration began in March. Anorthosite Project, all in Ontario. The Environmental & Social Responsibility The Susques Project is near Artha’s silver company also has the East Kempville tin- Award.” beamed Don Bubar, President/ prospects. indium project in Nova Scotia. CEO during his remarks,“ I have been Avalon Rare Metals Inc. [AVL- At this year’s PDAC Convention, Avalon actively advocating for greater participa- TSX; AVARF-OTCQX] is one of the more received the 2010 Environmental & Social tion by aboriginal peoples in our industry advanced players in developing rare Responsibility Award in recognition of the and greater co-operation between com- earth mineral prospects. The company company’s community engagement efforts panies and communities. Thor Lake has recently reported drill results from the during the exploration of its Nechalacho provided an opportunity to practice what 2010 winter work program on its flag- rare earth project. Avalon received the I have been preaching.” ship, 100%-owned, Nechalacho rare earth award for being a leader in promot- Azimut Exploration Inc. [AZM-TSXV] elements (REE) deposit, at Thor Lake, ing responsible exploration practices, has farmed out a 65% interest in its Diana Northwest Territories. Drilling began emphasizing early engagement and open copper-cobalt-rare earth property in in January and a second drill rig was communication with communities around Nunavik, Québec to a numbered Ontario mobilized in February. The rigs are test- Thor Lake. The company has encouraged company. The 237 square kilometre prop- ing exploration targets on the southern skills training and employment opportuni- erty has lake bottom sediments grading extension of the deposit. The first hole ties for aboriginal people and has offered up to 559 ppm copper, 191 ppm cobalt, Light REE: Heavey REE: La = Lanthanum Eu = Europium Ce = Cerium Gd = Gadolinium Pr = Praseodymium Tb = Terbium Nd = Neodymium Dy = Dysprosium Sm = Samarium Ho = Holmium Er = Erbium Tm = Thulium Yb = Ytterbium Lu = Lutetium Y = Yttrium APRIL 2010 www.resourceworld.com 17 129 ppm yttrium, 260 ppm lanthanum, Cache Exploration Inc. [CAY-TSXV] is FDCFF-OTC] discovered rare earth mineral- 612 ppm cerium, 68 ppm samarium and earning an 80% interest in three rare earth ization in intrusive rock outcroppings over 11 ppm europium. A $700,000 program is prospects in eastern Canada: the Welsford a 10 by 10 kilometre area 13 kilometres planned for the first year of work. Project, located 20 kilometres north of southeast of Areva’s Kiggavik uranium Bolero Resources Corp. [BRU-TSXV] Saint John, New Brunswick, and the Cross deposit in the Thelon Basin of Nunavut. has an option to acquire a 100% inter- Hills and Louil Hills prospects, both in Called the Nutaaq area, the ground is est in the Carbonatite Syndicate rare earth Newfoundland. All three properties host 100% owned by Forum, subject to a 2% claim group, surrounding private com- rare earth mineralization which have been NSR royalty to Nunavut Tunngavik Inc. pany Spectrum Mining Corp.’s recently sampled and assayed with encouraging Twenty-nine samples graded over 0.1% reported Wicheeda rare earth discovery. results. Cache has planned detailed ground total TREO, with a peak of 2.7% TREO. The Carbonatite Syndicate claim group is and airborne exploration for spring/sum- Gold Canyon Resources Inc. [GCU- 80 kilometres northeast of Prince George, mer 2010. TSXV] and Japan Oil, Gas and Metals British Columbia, and comprises 43 min- Canadian International Minerals National Corp. have signed a joint explo- eral claims covering approximately 16,072 Inc. [CIN-TSXV] can earn a 75% in ration agreement with a view to identify hectares. Highlights from Spectrum’s neigh- the Carbo property, located about 80 REE resources. The partners have an option bouring property included a 48.64-metre kilometres northeast of Prince George, to evaluate and lease tailings from mine interval which averaged 3.55% REE, a British Columbia, that hosts a series of dumps from iron oxide-copper-gold-REE 72-metre interval that averaged 2.92% REE, niobium and rare earth element-bearing deposits at Iron Mountain, Missouri and and a 144-metre interval which averaged carbonatite and alkaline intrusions. CIN Benson Mines, New York. The JV is also 2.20% REE in three separate drill holes. has been granted a 5,000-hectare Mineral evaluating REE prospects in Scandinavia.
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