Critical Elements Discovers New in Situ High Grade Grab Samples With Up to 12.63% TREO, 4.97% Niobium and 62 900 ppm Molybden...
13 Fevereiro 2012 - 1:25PM
Marketwired
Critical Elements Corporation (TSX
VENTURE:CRE)(OTCQX:CRECF)(FRANKFURT:F12) ("Critical Elements") is
pleased to report results from the 2011 exploration program
completed at the BC Rare Earths Elements Property group. The $650K
exploration program included airborne radiometric and magnetic
surveys at the Trident-Kin, Hiren and IRC properties, helicopter
assisted stream-silt geochemical surveys at the Trident-Kin, Hiren
and Munroe properties, followed by prospecting, regional mapping
and rock sampling at the Trident-Kin, Hiren and IRC properties.
Results from the Trident-Kin Property are very encouraging with
the discovery of new in situ mineralization as follow-up to the
2010 discovery of high grade REE boulder samples, which returned up
to 5.26% TREO and 2.7% Nb2O5 (see press release dated December 15,
2010). The 2011 exploration program has greatly increased the known
extent of the Trident Mountain syenite from 15 linear km to more
than 25 km throughout the contiguous Trident and Kin Properties.
The syenite sills, which vary in thickness from 5 to 300 m, have
associated economic potential for rare earth element (REE), niobium
(Nb), and molybdenum (Mo). Very encouraging analytical results were
returned in 2011, spanning 1.5 linear km of the syenite trace at
the Trident Property, plus another 3.5 linear km of syenite at the
Kin property.
Out of 23 rock samples collected along the 1.5 km trace in the
Trident Property area, the best values returned (from various
samples) were 5.93% TREO, 0.246% Nb2O5, and greater than 2000 ppm
Mo. 22% of the 23 samples returned greater than 1.0% TREO, with
four of those samples returning greater than 0.1% Nb2O5. The
distribution of samples covers a large area (700 m x 700 m), with
significant down-dip (downhill) areas yet to prospected.
At the Kin Property, a total of 43 rock samples (including 23
channel samples) were collected from the Amy-Carmen quartz syenite
trend, spanning approximately 1 km of strike length. Results
returned up to 8.66% TREO, 3.02% Nb2O5, and 62900 ppm Mo. 45% of
the 43 samples returned greater than 0.5% TREO with the top 11
samples all returning better than 1.0% TREO. 53% of the 43 samples
returned greater than 0.1% Nb2O5. Other elements of interest from
the Amy-Carmen trend include values up to 0.12% HREO+Y, 166 g/t Ag,
181 g/t Ta, and 1417 ppm Pb. In the region of the Amy-Carmen
channel samples, tight folding of the strata has resulted in fold
repetition of the syenite sills and generated a repeated stack of
mineralized syenite that is approximately 250 m wide.
Representative channel samples from this area returned values in
the table below:
----------------------------------------------------------------------------
----------------------------------------------------------------------------
channel 1: MKKNR016 to MKKNR029 over approx. 10m
TREO% Nb2O5% Mo PPM
----------------------------------------------------------------------------
----------------------------------------------------------------------------
min 0.015 0.023 11
----------------------------------------------------------------------------
max 0.874 0.627 853
----------------------------------------------------------------------------
average 0.296 0.171 214
----------------------------------------------------------------------------
n 14 14 14
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
channel 2: MKKNR030 to MKKNR033 over 4 m
TREO% Nb2O5% Mo PPM
----------------------------------------------------------------------------
----------------------------------------------------------------------------
min 0.143 0.046 15.2
----------------------------------------------------------------------------
max 1.675 0.434 62900
----------------------------------------------------------------------------
average 1.014 0.156 26613
----------------------------------------------------------------------------
n 4 4 4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
channel 4: MKKNR036 to MKKNR041 over 4 m
TREO% Nb2O5% Mo PPM
----------------------------------------------------------------------------
----------------------------------------------------------------------------
min 0.009 0.005 7.2
----------------------------------------------------------------------------
max 3.163 1.774 200
----------------------------------------------------------------------------
average 0.793 0.674 114
----------------------------------------------------------------------------
n 5 5 5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
A second parallel trend of mineralized syenite, quartz veins and
associated alteration occurs approximately 500 m south of the
Amy-Carmen trend. This parallel trend, dubbed the "Carmen"
comprises a broad zone (approx. 250 m wide) of elevated radiometric
response. Results from 9 samples collected over a 1 km strike of
this zone returned up to 12.63% TREO, 4.97% Nb, 16.4 ppm Mo, and
0.50% HREO+Y.
The Trident-Kin property represents a new and exciting property
with very significant REE, Nb and molybdenum mineralization
established over 5 km of strike length. The known mineralization is
contained within a 25 kilometer long, highly prospective sequence
of alkaline intrusions that remain underexplored.
"I am very pleased with how the program is progressing and in
the quality of the mineralization we are encountering" stated
Jean-Sebastien Lavallee, President & CEO of Critical Elements
Corporation.
About Critical Elements Corporation
Critical Elements is actively developing its 100%-owned Rose
lithium-tantalum flagship project located in Quebec.
A recent financial analysis of the Rose Project based on price
forecasts of US$260/kg ($118/lb) for Ta2O5 contained in a tantalite
concentrate and US$6,000/t for lithium carbonate (Li2CO3) show an
after-tax Internal Rate of Return (IRR) of an estimated 25% for the
Rose Project, with an estimated Net Present Value (NPV) of CA$279
million at an 8% discount rate. The payback period is estimated at
4.1 years. The pre-tax IRR is estimated at 33% and the NPV at $488
million at a discount rate of 8%. (Mineral resources that are not
mineral reserves do not have demonstrated economic viability).
The project hosts a current NI 43-101-compliant Indicated
resource of 26.5 million tonnes of 1.30% Li2O Eq. or 0.98% Li2O and
163 ppm Ta2O5 and an Inferred resource of 10.7 million tonnes of
1.14% Li2O Eq. or 0.86% Li2O and 145 ppm Ta2O5.
Critical Elements is presently in the tendering process for the
various aspects of the feasibility study and has commissioned
Genivar to complete an environmental impact study of Rose deposit
and Acme Metallurgical Ltd. of Vancouver is carrying out project
metallurgy.
Critical Elements' portfolio also includes rare-earth and
tantalum-niobium projects in the Rocky Mountains of British
Columbia and in Quebec, as well as a 50% interest in the Croinor
project, which is located in Quebec and hosts a current NI
43-101-compliant measured and indicated resource of 814,228 tonnes
at 9.11 g/t Au, for 238,414 ounces of gold at a 5 g/t cut-off.
Jean-Sebastien Lavallee (OGQ #773), geologist, shareholder and
president and chief executive officer of the Company and a
Qualified Person under NI 43-101, has reviewed and approved the
technical content of this release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Critical Elements shareholders, please contact:
Jean-Sebastien Lavallee, P. Geo President & CEO
819-354-5146president@cecorp.ca www.cecorp.ca Paradox Public
Relations 514-341-0408 Media: Frederic Berard Vice President,
Financial and Regulatory Affairs and General Manager, Montreal HKDP
Communications and Public Affairs 514-395-0375 /
fberard@hkdp.qc.ca
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