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News Release - |
RARE EARTH METALS REPORTS THAT DRILLING
HAS COMMENCED AT THE EXTENSION CLAIMS ASSEAN LAKE, MANITOBA
March 21, 2005
March, 21 2005 (REM – TSX.V) … Rare Earth
Metals Corp. (the “Company”) has begun drilling targets identified in the recent
Induced Polarization survey conducted by Matrix Geotechnical Services of
Toronto, Canada. The two separate targets being drilled are located on the
Company’s Row/Lass claims and its Wood claims. The Company’s extension claims
cover the east and west strike directions of the Assean Lake Shear Zone (ALSZ),
which runs through the Hunt Property. The ALSZ is the major controlling
structure for gold mineralization in the belt.
The Wood claims’ target will be drilled beneath a coincident Ni-Cu-Co-Pd MMI
soil geochemistry anomaly. This anomaly has high charge abilities indicating the
potential for sulphide mineralization in the subsequent Induced Polarization
geophysical survey. Approximately 300 metres of drilling is planned for the
target.
The Row/Lass claims’ target was identified in the area of an historic trench
where gold mineralization was reported in government archives. This “lost trench
zone” is located in the Assean River area NE and contiguous with the Hunt
property. The IP survey conducted over the area located an anomaly with a
moderate to weak chargeability and a high resistivity signature, which is
characteristic of disseminated mineralization along a quartz/carbonate
alteration or a diabase dyke. Approximately 300 meters of drilling is planned
for the target.
The Assean Lake project is an advanced exploration play with over 3.0 million
dollars (CDN) invested in exploration activity to date. The primary exploration
target at Assean Lake is shear-hosted gold, the typical mineralization style for
gold deposits on the Canadian Shield. A secondary target in the Assean Lake area
is that of the Thompson style Nickel-Copper deposit. The property hosts similar
geology to the Thompson area and has historically been thought of as being in
the Thompson Nickel Belt. The property is located approximately 100 km NE of the
city of Thompson, Manitoba. Thompson is the location of a fully integrated
nickel mining, milling, smelting and refining complex operated by INCO Ltd.,
(TSX: N).
The Assean Lake extension claims consist of two separate claim blocks, the
Row/Lass claim block to the NE and the Wood claim block to the SW. The Company
holds an option to earn 100% in both claim blocks. The Hunt property, which lies
between the Extension claims, is a 40/60 JV partnership between Rare Earth
Metals Corp and property operator, the Lundin Group company, Canadian Gold
Hunter (TSX: CGH). REM’s total property package covers over 40 km of the ASLZ.
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.
For further information, please contact:
Rick Mark V.P. Corporate Development (604) 986 2020 or Toll Free 866 816 0118
Or visit our website www.RareEarthMetals.net
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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