Uncategorized

100% Success Rate for Phase 4 Tranche 6 Infill Drill Results – InvestingNews.com

Ionic Rare Earths (ASX:IXR, or “IonicRE”) is pleased to announce the results of assays for Tranche Six (6) of the 8,220 metre Phase 4 drill program completed in October 2021 at the Makuutu Rare Earths Project (“Makuutu” or “the Project”) in Uganda.
Highlights:
Click here for the full ASX Release
This article includes content from Ionic Rare Earths, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rare earth metals are best classified as difficult to discover and extract. In 2019, nearly 60 percent of global annual production (an estimated 132,000 tonnes) came from China, with only 12.2 percent of production coming from the second largest producer, the United States. But, what are rare earth metals? And why are they more important than ever?
Rare earth metals are classified into two categories: light and heavy. Light rare earth elements (LREEs) are commonly available and include lanthanum, cerium, praseodymium, and neodymium. Heavy rare earth elements (HREEs) are more difficult to source (and therefore more expensive), and include samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, yttrium, and scandium.
Known as the seeds of technology, rare earth metals set to play an ever growing important role in the future of clean energy, as well as serving as a key ingredient in the permanent magnets found in wind turbines and electric vehicles. With such rapid forecast demand looming it’s clear why this segment of the mining industry is attracting attention.
Ionic Rare Earths (ASX:IXR, or “IonicRE”) is an exploration and mining development company that aims to create rare opportunities for investors by operating a low capital operation with a high-margin product. The company currently has a 51 percent ownership (earning up to 60 percent) over the promising rare earth elements Makuutu project located in Uganda. Even though it is the company’s only project, the Makuutu project has a post-tax long-term free cash flow estimate of US$766 million over 11 years. This is expected to grow dramatically in the next 12 months as the company increases the resources to increase the potential life at Makuutu beyond 30 years.
The company is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant, long life, high margin, supplier of high-value critical and heavy rare earths. Makuutu is an advanced-stage, ionic adsorption clay (IAC) hosted rare earth element (REE) project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics, and access to tier one infrastructure. The clay-hosted geology at Makuutu is similar to major IAC rare earths projects in southern China, which are responsible for the majority of global supply of low-cost, high value Heavy REOs (>95% originating from IAC). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a low-CAPEX process route. Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.
Makuutu will produce a mixed rare earth carbonate (MREC) product, and is planning on developing a standalone refinery to then process the radionuclide MREC product to produce secure and traceable individual rare earths required to supply a growing western demand.
Key investor take-aways:

Figure 1: Makuutu is quickly being defined as one of the world’s most strategically important rare earth projects.

Figure 2: Granit outcroppings south of the mineralisation trend, with the expansive Makuutu project area in the distant north.
Historically, the majority of rare earth metals have been produced in China. However, economically significant deposits are now being explored and developed all around the world due to the increased commercial interest in the element driven by desires to develop secure supply chains to meet dramatic increases in future demand.
Additionally, Makuutu is the third-largest scandium deposit on the planet with 9,450t+ of scandium available and near term potential for a step change in size.
“We’ve recently done some exploration drilling that indicated that the overall mineralization system of Makutuu is going to get a lot bigger, so we’re going to continue to add value to shareholders and build a very large project,” Tim Harrison said in a recent interview.

Figure 3: Phase 4 infill drilling at Makuutu which is expected to net a significant increase in resources at Makuutu.

Figure 4: Makuutu project location, 120 km east of Kampala, Uganda.
Makuutu may have a strong presence of scandium, but the project also serves as a “one-stop-shop” for many other rare earth elements, especially the high value and high demand magnet rare earths , neodymium, praseodymium, dysprosium and terbium, and many others. There are 16 rare earth elements found in the Makuutu IAC mineralization, with lanthanum oxide, yttrium oxide, and neodymium oxide being found in the highest concentrations. Forecasting the price of all the rare earth elements found at Makuutu is how Ionic Rare Earths is expected to earn US$766 million over 11 years, with much more upside long term given sensitivity analysis indicated a 10% increase in rare earth prices projected a massive 30% increase in NPV post tax.
Ionic Rare Earths is led by a strong corporate management team with decades of applicable experience. Trevor Benson, the chairman, has over 30 years experience with investment banking and stockbroking, focusing on the resources sector. Tim Harrison, managing director, brings 20 years of experience in mineral processing and hydrometallurgy. Max McGarvie, the non-executive director, has 45 years of experience in mining development and mineral processing. Combined, the experienced management team is fully equipped to lead Ionic Rare Earths to success.
The Makuutu project covers an approximate area of 300 square kilometers and is located 120 kilometers away from Uganda’s capital city of Kampala. The project has a pre-existing tier-one infrastructure that consists of tarred roads, a nearby rail, power, water and even cell phone services. The project is fully accessible year-round.

Figure 5: Makuutu project and proximity to existing infrastructure.
The Makuutu project hosts the highly desirable mineralization of rare earth bearing ionic adsorption clay (IAC). IAC mineralizations have many numerous advantages over hard rock REE projects. IAC mineralizations are softer, near surface and have relatively low operating costs due to ease of mining, allow for simplistic processing methods, and possess mixed high-grade rare earth elements and a high value basket with no radionuclides. The low mining costs combined with a simple processing method create a low-cost operation that produces a high-margin product with a value that is expected to also see a step change increase as a stable global supply of scandium is demonstrated.
The current mineral resource estimate of the Makuutu project is 315 Million tonnes rated at 650 ppm TREO, at a cut-off grade of 200 ppm TREO-CeO2. One exciting upside to this project is that of the 37 km long mineralisation trend, the resource is defined within discrete areas across only a portion of the 26 kilometers drilled previously, and additional clay zones identified across the full mineralisation trend.
Ionic Rare Earths is using simple extraction and processing techniques that allow them to keep operating expenses low. This is possible because of the IAC mineralization that defines the area. The mineralization has a near-surface orebody that enables low-cost bulk mining with a low strip ratio.

Figure 6: Makuutu’s critical and heavy rare earth dominant basket has a high value and wide appeal.
This project is 100% owned by Ugandan company Rwenzori Rare Metals Limited, which has an ownership structure as follows; Ionic Rare Earths owns 51 percent, Rare Earths Elements Africa owns 42 percent(which is reducing), and Ugandan Partners hold 7 percent (which is reducing).
Trevor Benson has over 30 years of experience within investment banking and stockbroking, specializing in the resources sector. He has also worked for large Australian and international corporations and held a number of directorships with ASX-listed companies. Most recently he held the position of Executive Chairman and CEO for Walkabout Resources Ltd.
Benson’s focus within the investment banking industry was within SE Asia and China specializing in merger and acquisitions and equity capital market transactions and advising Australian and International companies, including being an exclusive adviser to Chinese State-Owned Enterprises, and Hong Kong-listed resource companies.
Benson has cross-border experience including Africa, UK, Hong Kong, and China and has advised and listed numerous ASX listed companies.
Tim Harrison initially joined the Company in the role of Project Manager of Makuutu Rare Earths Project at the start of 2020. Since then, he has been driving development and value creation, and was appointed CEO in June 2020 and was appointed Managing Director in December 2020.
Harrison holds a Bachelor of Chemical Engineering and has over 20 years of experience and an extensive and successful track record in the fields of both mineral processing and hydrometallurgy across multiple commodities.
Harrison has been involved in project development, process and flowsheet development, studies, test work planning and supervision, engineering, construction, commissioning, operations and project management. Harrison has been engaged with operations and projects across Australia, Africa, Asia and Eurasia.
Jill Kelley has previously held roles at the highest levels of international leadership and has played a crucial role in supporting U.S. military operations spanning over 60 countries, collectively known as the U.S. Coalition Allies. Ms. Kelley’s networks in, and knowledge of, Europe, the Middle East, Asia, and South and Central America have helped advance American interests during the most critical points in current history.
As former honorary ambassador to U.S. Central Command General Mattis and CIA Director David Petraeus, Kelley met regularly with Royals, Presidents, Prime Ministers, and Parliamentarians to foster military, security, and economic relationships. Kelley received the Pentagon’s esteemed Joint Chiefs of Staff Award for her leadership, along with the Multi-National Military Forces Award, an honour only bestowed upon a few individuals.
Max McGarvie is a senior mining executive with an extensive portfolio of technical/managerial appointments in a career exceeding 45 years in mine development, mineral processing, operational and management roles across Australia, Africa and the Middle East.
He has a long and distinguished career in the mining industry, a significant portion of this with Iluka Resources Limited and prior entities, including development roles within its mineral sands operation at Eneabba, Western Australia and a major role in returning the Sierra Rutile mineral sands operation in Sierra Leone (operated by Iluka) to profitable operations following the civil war in that country.
McGarvie’s career has covered a range of senior roles in the mining sector including Production Manager, from Registered Mine Manager to CEO, and he has a deep knowledge and understanding of the African environment and project development in this theatre.
Brett Dickson has over 20 years’ experience focusing on the start-up, restructuring, management, growth and financing of emerging publicly listed exploration and mining companies, including projects advancing from exploration through development to production. This experience ranges through a spectrum of activities; from capital and debt raisings, corporate restructuring and stock exchange listings.
Dickson has been a Director of, and involved in the executive management of, a number of publicly listed resource companies with operations in Australia, Nicaragua, Chile, Mexico, Finland, Ukraine, Laos, Papua New Guinea and South Africa.
Mr Bower’s appointment as CEO follows the Company’s successful $2.4M placement which will settle today, 23 March 2022 with shares to be allotted tomorrow, 24 March 2022. Funds raised will be used to finalise the acquisition of 10% of REEgenerate Pty Ltd in addition to providing working capital and cash to develop the Company’s mineral resource exploration projects.
Mr Bower is an experienced executive and project manager demonstrated across the mining, agricultural and industrial sectors and in particular brings a unique skill set that is highly relevant to our diversified resources Company. Jeremy brings over 15 years’ experience dealing with the government, key stakeholders and engineers to obtain project approvals, in addition to strong ESG credentials, which is now demanded by investors and communities alike across the globe. His appointment comes at a time when the Company is focussed on driving a detailed plan to assess and deliver more value from its assets and take steps towards being a significant player in the emerging circular economy.
Mr Bower said, “1 was attracted to the Company because of its unique blend of highly prospective mineral resource projects in addition to the recent investment in REEgenerate, together which form a solid foundation to build value for shareholders”.
The Company’s non-executive Chairman, Robert Downey said “We are excited to have Jeremy join the Company as CEO. The Board and management have got to know Jeremy well over the past month, and we have no doubt that his experience and can do attitude will ensure he can hit the ground running, and importantly provide value to our loyal shareholders from development of our asset portfolio”.
Mr Bower will be employed as CEO on a permanent part time basis of 2 days per week to manage and co-ordinate the development of the Company’s current asset portfolio. If the Company requires a full time CEO, the parties agree to discuss and negotiate appropriate terms at the relevant time.
Details of the material terms of appointment of Mr Bower are set out below. The employment agreement between the Company and Mr Bower contains terms usual in employment agreements of its type.v

Click here for the full ASX release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Reach Resources Limited(ASX: RR1) (“Reach” or “the Company”) is pleased to announce that is has made a strategic investment of $1.8M into REEgenerate Pty Ltd (“REEgenerate”), an Australian private company that owns 100% of the Coconut Club REE exploration project in Quebec, Canada.
REEgenerate has an option to acquire 100% of REEcycle Inc (“REEcycle”), a US based Rare Earth Element (REE) separation and technology Company.

Click here for the full ASX release
This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (” Search ” or the ” Company “), is pleased to announce that two bulk samples of mineralization from Deep Fox and Foxtrot have been received and are being processed in our PHASE 1 magnetic separation program at SGS Canada (Lakefield) (” SGS “). The Deep Fox sample comprises 52.9 metric tonnes recovered from the exposed surface of the deposit. Similarly, the Foxtrot sample comprises 19.8 tonnes of surface material.
The SGS program involves crushing and grinding the bulk samples and feeding a series of magnetic separation devices to produce:
(1) a magnetic concentrate by Low Intensity Magnetic Separation (LIMS) containing predominantly magnetite (an iron oxide mineral),
(2) a magnetic concentrate by Wet High Intensity Magnetic Separation (WHIMS) containing the majority of the rare earth element values in the original sample and
(3) a final non-magnetic material fraction containing non-magnetic material, including the zircon mineral containing zirconium and hafnium.
The testing will be carried out at a scale of over 500 kg per hour of material treatment for the next few weeks. The results of the testing will be used as part of our “scale up” to a full commercial magnetic separation plant. The LIMS concentrate will be evaluated for sale as a potential iron ore concentrate. The WHIMS concentrate will comprise 18-20 tonnes of material from the two bulk samples. This concentrate will be used as material for our PHASE 2 program to further study and scale up the Direct Extraction Process for rare earth recovery. Finally, the non-magnetic concentrate will be studied for zirconium and hafnium recovery by flotation.
Dr. David Dreisinger, Director/Vice-President of Metallurgy states; “The benefit of producing a concentrate, using the grinding and magnetic circuit, prior to our proprietary Direct Extraction Process, is the reduction in size of equipment and reduced chemical and energy use to obtain similar overall recoveries of saleable rare earth elements.”
Greg Andrews, President/CEO states; “We continue with our “Sprint to Production” and this is a very important step to scale up and produce more material for further separation into individual oxides of the permanent magnet material, Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy) and Terbium (Tb). These are the key elements which create the value in the rare earth element supply chain. Upon producing the oxides, Search will demonstrate the transformation of the permanent magnet oxides into metal.”
Qualified Person:
Dr. David Dreisinger, Ph.D., P.Eng, is the Company’s Vice President, Metallurgy, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT , and a resource estimate for DEEP FOX . Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX .
Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy ad Technology, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca
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.

Primary Logo
News Provided by GlobeNewswire via QuoteMedia

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (“Ucore” or the “Company”) announces that it has accepted notices of resignations from members of the senior management team of Innovation Metals Corp. (“IMC”), including, IMC Co-founder, Chairman and Chief Executive Officer, Dr. Gareth Hatch; President and Executive Director, Tyler Dinwoodie; and Chief Operating Officer and Vice President, Metallurgy, Dr. Kurt Forrester. The resignations will result in their departures from IMC later in 2022, which coincides with Ucore’s planned transition to the commercialization phase for RapidSX™.
Ucore is extremely grateful to the IMC technical team’s efforts to progress the RapidSX™ technology platform towards commercial deployment,” stated Ucore Chairman and CEO, Pat Ryan. “Since Ucore’s acquisition of IMC in May of 2020, Gareth and his team have very systematically worked towards the completion and development of the technology platform and to ready it for commercial deployment. The Company is looking forward to a smooth transition from research & development to the commercial application of this transformative technology to North America’s evolving rare earth element supply chain.
Ucore’s ALASKA2023 business plan starts with the planned upcoming construction of the Alaska Strategic Metals Complex (“SMC“) rare earth oxide production plant in Ketchikan, Alaska and then subsequent related facilities. Engineering plans for the Alaska SMC are currently underway with Mech-Chem Associates, Inc. of Norfolk, Massachusetts. IMC will continue to concurrently support this effort through the expected commissioning and then operation of IMC’s RapidSX™commercial demonstration plant in Kingston, Ontario.
Per the voluntary resignation terms of their respective consulting and employment agreements, Dr. Hatch and Mr. Dinwoodie plan to continue in their respective roles with IMC until November 14, 2022. Dr. Forrester intends to continue in his role with IMC until May 14, 2022. Drs. Hatch and Forrester and Mr. Dinwoodie look forward to supporting a smooth, fulsome transition.
###
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has a 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. Ucore’s vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, Ucore’s vision includes disrupting the People’s Republic of China’s control of the US REE supply chain through the development of a heavy-rare-earth processing facility – the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore’s heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.
Ucore is listed on the TSXV under the trading symbol “UCU” and in the United States on the OTC Markets’ OTCQX® Best Market under the ticker symbol “UURAF.”
For further information, please visit www.ucore.com.
About Innovation Metals Corp.
IMC has developed the proprietary RapidSX™ process, for the low-cost separation and purification of rare-earth elements, Ni, Co, Li and other technology metals, via an accelerated form of solvent extraction. IMC is commercializing this approach for a number of metals to help enable mining and metal-recycling companies to compete in today’s global marketplace. IMC is a wholly owned subsidiary of Ucore Rare Metals Inc.
For more information, please visit www.innovationmetals.com.
About the RapidSX™ Technology
IMC developed the RapidSX separation technology with early-stage assistance from the United States Department of Defense (“US DoD“), later resulting in the production of commercial-grade, separated rare-earth oxides at the pilot scale. RapidSX combines the time-proven chemistry of conventional solvent extraction (“SX“) with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth-element (“REE“) industry’s standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX is not a “new” technology but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.
Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements” regarding, among other things, the Company’s ALASKA2023 Business Plan as well as the upcoming prospective financing activities involving the Company and AIDEA. All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, litigation outcomes, 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 or results, and actual results or developments may differ materially from those in forward-looking statements. In regard to the disclosure in the “About Ucore Rare Metals Inc.” section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to IMC, as suppliers for Ucore’s expected future Alaska Strategic Metals Complex (“Alaska SMC”). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 (“NI 43-101”) technical report that demonstrates that the Bokan Mountain Rare Earth Elements project (“Bokan”) is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to develop the specific engineering plans for the Alaska SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: Innovation Metals Corp. (“IMC”) failing to protect its intellectual property rights in RapidSX™; RapidSX failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the Alaska SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the Alaska SMC and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (“AIDEA”) regarding the development of Bokan and/or the Alaska SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACT
Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
902.482.5214
mark@ucore.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113974

News Provided by Newsfile via QuoteMedia

Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (” Search ” or the ” Company “), is pleased to announce that Search will significantly bolster its expertise with the addition of Ken Baxter and W. Andrew Krusen, Jr to its Advisory Committee. We are also pleased to engage Pretium Capital Group for investor public relations and related communication services.
ADVISORY COMMITTEE APPOINTMENTS
KEN BAXTER
Ken Baxter holds a Bachelor of Science Geology and a Master of Scientific Studies, both from the University of Queensland in Australia. Mr. Baxter has over 35 years experience in design and commissioning of process plants including innovative and technically challenging plants. He has successfully managed design teams for gold and base metals, predominantly copper and he was responsible for the design of the Mt. Gordon and Sepon hydrometallurgical plants and for the Kansanshi Autoclave plant.
Mr. Baxter is a member of the Australasian Institute of Mining and Metallurgy (AUSIMM) and is currently an independent consultant with Chaparell Pty Ltd.
W. ANDREW KRUSEN, JR
Andy Krusen holds a Bachelor of Arts degree in Geology from Princeton University. He is Chairman of Dominion Financial Group, Inc., a merchant banking organization that provides investment capital to the natural resources, communications and manufacturing and distribution sectors. He is also the managing member of Krusen- Douglas, LLC, a large landowner in the Tampa, Florida area.
Mr. Krusen serves as a director of publicly traded Alico, Inc., an agribusiness and land management company as well as several privately held companies, including, Lumina Analytics, LLC, and EcoLandCo., LLC.
He is currently a director and Chairman of Florida Capital Group, Inc.- a Florida bank holding company, as well as Florida Capital Bank, N.A., its wholly owned subsidiary.
Mr. Krusen is a former member of the Young Presidents’ Organization and is currently a member of the World President’s Organization and the Society of International Business Fellows. He is past Chairman of Tampa’s Museum of Science and Industry.
Greg Andrews, President/CEO states: “We are pleased to welcomed Ken Baxter and Andy Krusen to our Advisory Committee. The depth of technical expertise and business acumen brought to Search Minerals by Mr. Baxter and Mr. Krusen will be invaluable with helping Search advance its “Sprint to Production” plan.”
INVESTOR RELATIONS
Search is pleased to announce the engagement of Pretium Capital Group (“Pretium”) by its principal, Mr. Sherman Dahl, to provide media and investor relations services to the Company. Pretium has been retained on a six-month contract basis to advise the Company with respect to its public communication materials, to manage the social media accounts of the company and provide content, to assist in market awareness efforts, assist management in developing a strategy to enhance and expand the Company’s exposure, and support corporate development initiatives.
Pretium principal, Mr. Dahl, has a proven record of being able to increase investor awareness and liquidity. Mr. Dahl was previously a vice-president and investment adviser with National Bank Financial, a leading Canadian investment dealer. In addition to managing a $150-million retail book and achieving Chairman’s Council level, Mr. Dahl participated in numerous capital raises totaling over $100 million directly for various issuers with total issuer financings of $1 billion on behalf of retail and institutional clients over a 20-year career.
Pretium shall receive a monthly remuneration of $5,000 per month and the contract expires August 31, 2022.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT , and a resource estimate for DEEP FOX . Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX .
Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy ad Technology, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca
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.

Primary Logo
News Provided by GlobeNewswire via QuoteMedia

Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (” Search ” or the ” Company “), is pleased to announce a corporate update regarding our upcoming 2022 exploration program. Our treasury is currently over $ 7.0M, which includes our recent $ 6.3M financing. This treasury will be used to accomplish the goals outlined below.
2022 EXPLORATION PROGRAM
The Company is well positioned to execute on its “Sprint to Production”. We are currently preparing our work programs for Deep Fox, Fox Meadow, Fox Valley, and other prospects within our Critical Rare Earth Element District in SE Labrador. We will also carry out some exploration on our Red Wine Rare Earth Element District in central Labrador. We are expanding our work force and planning for early mobilization to our field office in St. Lewis.
Deep Fox Project
We completed a very successful 7,000m drill program in 2021 and are preparing a 2022 work program which will consist of up to 14,000m of drilling. We are looking to potentially expand the current pit design, gather geotechnical information and carry out infill drilling to better define the resource. We will utilize 2 drilling rigs for the drill program, which will commence around May 15, 2022.
Fox Meadow Prospect
We completed a successful channel sample program in 2021, and the Fox Meadow prospect is drill ready. We have planned approximately 6,000m of drilling to further assess the underground potential of this prospect and an additional 500m of channels to expand the surface extent; REE mineralization is open along strike and at depth. Once the Deep Fox drill program has been completed, the drills will mobilize to begin the Fox Meadow program.
Other Prospects
We will continue channel programs on the Silver Fox, Awesome Fox and Fox Valley prospects.
Greg Andrews commented: “We are very excited about completing our current financing. We have over $ 7M in treasury, which is allowing us to initiate our ambitious plans in 2022. The recent macro developments in the rare earth market, including significant price increases for the permanent magnet REE’s, along with a forecasted supply deficit, has allowed Search to capture funding opportunities looking for advanced projects in North America. Our Deep Fox project is one of those projects, but the other attraction, is our District Scale opportunity that also includes the Foxtrot resource, and the drill ready Fox Meadow mineralized zone. Search is completing a Preliminary Economic Assessment (“PEA”) on the Deep Fox project to be completed late March 2022, which will be followed immediately by commencement of a Definitive Feasibility Study for completion in 2023.”
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT , and a resource estimate for DEEP FOX . Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX .
Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy ad Technology, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca
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.
Cautionary Statement Regarding “Forward-Looking” Statements:
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s exploration plans and the preparation of the PEA and Definitive Feasibility Study, and the timing thereof, and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, results of exploration work, the ability to secure any required funding, receipt of all required regulatory approval and the ability to secure the necessary resources to complete the planned exploration work..
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals.
Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com .

Primary Logo
News Provided by GlobeNewswire via QuoteMedia

Investing News Network websites or approved third-party tools use cookies. Please refer to the  cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies. 

source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button