March 26, 2004 (REM - TSX.V) . Rare Earth
Metals Corp. (the "Company") is
pleased to report initial assay results from drilling on the Hunt Zone
on the
Company's Assean Lake shear-hosted gold project in north-central
Manitoba.
Approximately 3,500 meters have been completed so far of the planned
4,100-meter
program of BQ diamond drilling on the Hunt Zone and several
reconnaissance
targets on the north shore of Assean Lake.
The drill program has significantly extended the high grade Hunt Zone to
depth
and to the west. The Zone remains open in both directions and the plunge
of the
high-grade core is flattening to the west, which means that future
drilling
should intersect the zone at shallower depths than originally
anticipated. In
addition, the current drill program has resolved the geometry of a deep
fault
structure allowing for a greater understanding of the deposit. Please
see the
attached long section.
Assays for the first four holes in the Hunt Zone are presented in the
table
below. True widths are 80% to 85% of the reported lengths.
Hole No. Collar Azimuth/Angle Interval (m) Length (m) Gold (g/t)
HT-04-137 1650E/057S 333º/-62º 252.70-257.60 4.90 1.88
includes 254.60-256.10 1.50 4.35
HT-04-138 1600E/053S 333º/-65º 259.65-263.40 3.75 7.14
includes 262.00-263.40 1.40 13.48
HT-04-139 1700E/088S 333º/-63º 284.60-286.70 2.10 0.42
HT-04-143 1600E/100S 333º/-65º 307.00-312.90 5.90 3.04
Assays are pending on three additional holes, HT-147, 151 and 155, which
were
drilled to the west and higher in the Hunt Zone section to further test
the
extent of the zone. Two final holes, HT-158 and 161, in progress will
conclude
the winter program on the Hunt Zone.
"We are very pleased with the results and look forward to continued
success in
expanding the Hunt Zone, commented Richard Bailes, President of Canadian
Gold
Hunter, "The Hunt Zone shows excellent continuity and has the potential
to be a
significant new gold deposit in the prolific Canadian Shield - the most
productive shear-hosted terrain in the world."
The Assean Lake Project is a 60/40 joint venture between Canadian Gold
Hunter
and Rare Earth Metals Corp.
Drill results and technical data have been reviewed by Jan
Christoffersen,
P.Eng., a Qualified Person pursuant to NI-43-101. The mineralized drill
core
intervals are split in the field and sent to ALS Chemex in Vancouver for
analysis. The intervals containing visible gold are assayed by
fire-assay
procedure for metallics gold. This procedure involves pulverizing a
one-kg
sample and passing the prepared pulp through a 150 mesh (106 micron)
screen. The
+150 mesh material is analyzed in its entirety by fire assay. The -150
mesh
material is homogenized and a 50-gram subsample is assayed by fire assay
with
gravimetric finish. The samples from sections that did not contain
visible gold
were fused by fire assay and analyzed by atomic absorption spectroscopy.
A
series of standards are routinely introduced with each batch of samples.
Quality
controls include preparation and analysis statistics performed to
industry
standards
On behalf of the board,
John Roozendaal
President C.E.O. & Director
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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