Ucore Comments on Alaska FY2012 Budget and Rare Earth Resource Development Initiatives
25 Janeiro 2012 - 10:16AM
Marketwired
Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or
the "Company") is pleased to comment on the proposed Alaska State
Budget for FY2013. The budget includes a number of items of general
importance to resource development, and specific importance to rare
earth and strategic mineral development within the state. The
proposed budget, presented by Governor Parnell in December 2011, is
scheduled for review and prospective approval by the Alaska State
Legislature during H1 2012, to take effect on July 1, 2012 (the
commencement date of FY 2013).
The FY2013 Budget includes $2.7 million as part of a 3-year
project (comprising $8.1 million in total) to obtain critical
information in further researching and assessing Alaska's rare
earth element (REE) and strategic minerals potential. The funds
will be utilized in better understanding the mineralized area at
Bokan Mountain, SE Alaska, in addition to numerous known REE and
strategic mineral occurrences throughout the state.
The FY2013 Budget also includes $3.3 million for further
streamlining of permitting processes associated with resource
development. The allocation is intended to integrate with the
state's already well regarded large mine permitting process, unique
among mining states in America. The allocated funds will be
utilized to further integrate state permitting with federal
processes, and other means of permitting reform.
"This budget is aimed at streamlining the state's permitting
processes", said Governor Parnell; "... we intend to provide more
timely decision making for mining, timber, public access, land
sales and transfers, and other resource development applications.
We'll obtain more critical data about Alaska's Rare Earth Elements
and Strategic Minerals beneath Alaska lands ..."
A complete transcript of Governor Parnell's Alaska State Budget
Rollout Speech can be accessed at the following link:
http://gov.alaska.gov/parnell/press-room/full-press-release.html?pr=5990
"The State of Alaska continues to take an active role in the
development of its enormous rare earth and critical minerals
potential," said Jim McKenzie, President and CEO of Ucore. "The
allocation of substantial funding specifically targeting rare earth
and strategic resource development at Bokan Mountain and across the
state is a tremendous advantage for a very young industry with
immense upside potential for employing Alaskans and adding to the
state's export revenue. We applaud Governor Parnell's initiatives
and look forward to working with the state to advance its critical
metals revenue base."
On January 17, 2012, Governor Parnell announced that Alaska
exports have exceeded the $5 billion mark for the first time in the
state's history. The news reflects goods exported from January
through November 2011, according to the U.S. Census Bureau. China
emerged as the top market for Alaska's 2011 exports through
November, the first time that the East Asian country has held that
position. Alaska remains ranked among the leading locations in the
world for resource development, according to the Fraser
Institute.
Background
Ucore Rare Metals Inc. is a well-funded junior exploration
company focused on establishing REE, uranium and other rare metal
resources through exploration and property acquisition. With
multiple projects across North America, Ucore's primary focus is
the 100% owned Bokan - Dotson ridge REE property in Alaska. The
Bokan - Dotson ridge REE project is located 60 km southwest of
Ketchikan, Alaska and 140 km northwest of Prince Rupert, British
Columbia and has direct ocean access to the western seaboard and
the Pacific Rim, a significant advantage in expediting mine
production and limiting the capital costs associated with mine
construction.
The Bokan properties are located in an area reserved for
sustainable resource development with an existing road network
providing access to the main target areas. REE mineralization at
the Bokan-Dotson ridge project occurs in a well-demarcated vein
system related to a Mesozoic Bokan peralkaline granitic complex.
However, a number of other occurrences of REE mineralization are
also located within, or at the margins of the complex. Viewed in a
geological and geophysical context, the Bokan complex is a
distinctive circular structure and is highly prospective for rare
earth deposits.
This press release includes certain statements that may be
deemed "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
future exploration drilling, exploration activities and events or
developments that the Company expects, are forward looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include exploitation and exploration
successes, continued availability of financing, and general
economic, market or business conditions.
Contacts: Ucore Rare Metals Inc. Mr. Jim McKenzie President and
Chief Executive Officer (902) 482-5214 www.ucore.com
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