Rare Earth Metals Corp. is please to announce the results of
the initial phase
of exploratory drilling at the Longstreet Gold-Silver Project, Nevada.
The
Company has an option to acquire a 100% interest in the Longstreet
property.
This first program was designed to verify the extent and continuity of
the
mineral resource referred to as the Main Zone, first mined in the
1920’s, and
calculated in the 1988 preliminary feasibility study by Mine Development
Associates (MDA) of Sparks, Nevada. The MDA study reported a measured
resource
of 3,277,900 tonnes of mineralization grading 0.82 g/t Au and 19.5 g/t
Ag,
excluding talus (Qualifying Report, March 14, 2003, G.A Harron P. Eng.,
P.Geo).
The phase 1 drill holes were orientated to intersect, at an optimum
angle, the
two sheeted-vein set structures which host the mineralization. Drill
locations
and cross-sections showing the gold-silver intervals from this program
in
relation to the mineralized intervals from previous drilling, are
available for
viewing on the Company website at
http://www.remcorp.info/gold-project-nevada.html
Only 9 of the 15 planned drill holes were
completed
before winter weather conditions halted the program. All the holes
excluding
hole # 7 were drilled to a total depth of 300 feet (91.44 meters). Hole 7
was
drilled to a depth of 500 feet (152.4 meters).
The final results from the 9 completed holes are listed above. All
samples
including duplicate and repeats were prepared and analyzed at ALS Chemex
in
Vancouver using 50 gram pulps, fire assay procedure with gravimetric
finish.
The drill program was successful in demonstrating the continuity of
mineralization. The holes intercepted oxidized gold-silver
mineralization where
projected from previous drilling. The intervals reported similar to
greater
grades
over similar to greater widths. The strike and down-dip extent of
mineralization
will be tested in the spring when weather permits.
The Longstreet property is located 55 km (30 miles) NE of Tonapah,
Nevada and
approximately 47 km (28 miles) SE of the Round Mountain Mine
(Barrick/Kinross).
The project consists of 7 separate gold-silver target zones. Four of the
prospective zones including the “Main Zone” are heap-leach, open-pit
targets
hosting oxidized sheeted-vein gold-silver mineralization. The remaining
three
zones are deeper, “bonanza” style, high-grade underground drill targets.
The TSX Venture exchange does not accept responsibility for the adequacy
or
accuracy of this release.
On behalf of the Board of Directors,
John Roozendaal B.Sc
President, CEO & Director
Rare Earth Metals Corp.
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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