Rare Earth Metals is pleased to report that
drilling has now commenced at the
Longstreet Gold-Silver Mine project in Nye County, Nevada. The program
will
consist of 10-15 Reverse Circulation drill holes designed to verify the
extent
and grade of mineralization of the main zone, one of 7 mineralized
targets on
the property.
The Company has received the walking Magnetometer geophysical data from a
survey
recently completed at the South Bay Nickel-Copper-Cobalt-PGE project in
Manitoba. The mag-survey map is available for viewing on the Company
website
http://www.remcorp.info/gold-project-southbay.html
The mineralization discovered at South Bay is comparable to that found
in
magmatic-sulphide hosted nickel deposits, and is comprised of
pyrrhotite,
pentlandite, millerite, chalcopyrite, pyrite and other sulphide
minerals. The
metaliferous zone is exposed within a 2 meter to 7 meter wide biotite
schist
thought to be associated with mafic intrusions. Regional host rocks
comprise a
sequence of sulphidic metasedimentary rocks.
This discovery straddles the provincial highway northeast of Leaf Rapids
Manitoba. It is an area with excellent local and regional infrastructure
including roads, power, and existing mining communities and is
approximately 300
km by road from INCO’s fully integrated nickel mining and smelting
complex at
Thompson, Manitoba.
The average grade of eleven semi-massive to near massive sulphide
boulders
recovered from blast rubble in a road cut exposure is 2.42 % Ni, 0.78 %
Cu, 697
ppm. Co and 1.32 g/t PGE. Geological mapping, magnetometer and HLEM
geophysical
surveys, and geobotanical surveys have been completed and will be
released once
interpreted and evaluated.
Dr. Hamid Mumin will present a summary of the South Bay Nickel discovery
and
exploration results on Friday November 14th 2003 at the Manitoba Mining
&
Minerals Convention in Winnipeg, Manitoba.
Petrographic and mineralogical studies are in progress at Brandon
University in
Manitoba.
For further information, please contact John Roozendaal, President, Rare
Earth
Metals Corp. at (604) 682-8236 in Vancouver or (866) 816 0118. Visit the
company
at www.rareearthmetals.net
On behalf of the Board of Directors
John Roozendaal
President
The TSX Venture Exchange has not reviewed
and does
not accept responsibility for the adequacy
or accuracy of the contents herein.
For more information about Rare Earth Metals
Corp.
please review the company’s website
www.RareEarthMetals.net
or speak with a Company representative toll free 866 816 0118 or by
emailing
info@rareearthmetals.net
The TSX Venture Exchange has not reviewed this press release and does
not
accept
responsibility for the adequacy or accuracy
of this
release.
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