Rare Earth Metals Corp. (the “Company”) has received results of the first four drill holes from the exploration program, now underway at Assean Lake, north-central Manitoba. Joint venture partner and operator, Canadian Gold Hunter (CGH – TSX) has reported that additional high-grade gold assays have been intersected. Up to 4,000 metres are planned in the current program, which should be completed by mid-September.
Assays are listed in table form below for these drill holes in the Hunt Zone. An accompanying long section may be viewed on our website at http://www.rareearthmetals.net/assean-current.html
Hole No. Collar Azimuth/Angle Interval (m) Length (m)* Gold (g/t) Zone
HT-04-162 1750E/100N 333°/-45° 36.00-39.55 3.55 5.43 Hunt
including 36.00-38.50 2.50 7.56 “
HT-04-163 1600E/030S 333°/-65° 229.22-231.65 2.43 7.98 Hunt
including 229.22-230.76 1.54 11.48 “
HT-04-164 1550E/050S 333°/-65° 253.08-255.43 2.35 27.91 Hunt
including 253.08-254.88 1.80 36.04 “
and 286.35-286.70 0.35 3.03 Hunt B?
HT-04-165 1500E/050S 333°/-65° 240.00-240.50 0.50 3.74 Hunt B?
and 244.50-245.00 0.50 2.68 “
*True widths are about 80% of the reported lengths.
Drill holes HT-162 to 164 were drilled within the well established southwest plunge of the Hunt Zone. Intercepts in all three holes contain fine visible gold, which is particularly abundant in HT-164. The intercept in HT-164 suggests the existence of a very high-grade core in the Hunt Zone, which includes HT-147 (16.80 g/t Au over 1.95 m), HT-151 (16.96 g/t Au over 2.95 m) and HT-155 (27.22 g/t Au over 4.27 m), drilled earlier in 2004.
HT-165 was drilled above the westerly plunge of the Hunt Zone and intersected a low-grade, silicified zone with significant disseminated arsenopyrite, more characteristic of the Hunt B Zone, but located very close to the expected location of the Hunt Zone. HT-164 also cut a second zone in the footwall of the Hunt Zone, which may represent the Hunt B Zone. Assays results for future holes will be reported in batches periodically. The Assean Lake Project is a 60/40 joint venture between Canadian Gold Hunter and Rare Earth Metals Corp.
Rare Earth Metals is also conducting exploration this summer on its 100% optioned Row, Lass and Wood claims which are contiguous to the east and west claim boundaries of the Hunt property. The field program consists of MMI geochemical soil survey over areas surveyed by Magnetic and HLEM geophysical methods in 2003. The surveys will be compared and analyzed for priority drill targets. The Company contemplates a first phase of drilling on these claims this winter in early 2005. The Company now holds an interest in a continuous claim block that covers over 43 kilometers of the ALSZ.
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
The TSX Venture exchange does not accept responsibility for the adequacy or accuracy of this release.
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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