U.S. Rare Earths, Inc. announces drill results for initial Idaho drill program
Wednesday, Feb 20, 2013
NEW YORK, Feb. 19, 2013 /PRNewswire/ -- U.S. Rare Earths, Inc., "UREE", (OTCBB: UREE), a rare earths exploration company with mining claims in Idaho, Montana, and Colorado, announced the results from its initial drilling program on its Diamond Creek property in Idaho.
Results indicate that Drill Hole No.1, which ran 123 meters, intersected approximately 1 meter of true thickness rare earth element mineralization assaying > 0.5% total rare earth elements near the top of the hole. Drill Hole No.1 drilled down along dip of the mineralized feature.
Drill Hole No. 2's position, limited by permitting and weather, was an attempt to re-intersect the REE mineralization to provide more data on thickness, depth and direction. Drill Hole No. 2 also drilled down dip along the mineralized feature and intersected REE mineralization at a deeper level around 16 meters with assays returning <0.2% total rare earth elements content. Analysis on the core samples was provided by Activation Laboratories of Ontario, Canada. Standards with cross-check assay work is now being completed along with sub-surface modeling of the drill program by the project QP, Mr. Howard Dunn of Process Engineering.
The December drilling was the first known sub-surface work in the entire Diamond Creek area. "We are encouraged by the results of this first look at Diamond Creek, which suggest the potential for significant REE mineralization," said Kevin Cassidy, CEO of UREE. "When we consider that Diamond Creek is one of our four properties in Idaho and Montana, we are adopting a district approach in our exploration and development program."
In addition to the drill results, surface channel samples, collected by U.S. Rare Earths' Qualified Person, Process Engineering, and assayed by ALS laboratories in Nevada, support the drilling results and -- when combined with surface spectrometer readings -- indicate that the mineralized trend is a minimum of 40 meters long and estimated to be about 1 meter in thickness.
The core drilling in Diamond Creek was completed by Ruen Drilling, which mobilized a rig in early December 2012, following UREE's acquisition of a drill permit in late October. Ruen was able to complete two drill holes before standing down due to inclement weather.
The Company received its 2013 drill program permit for North Fork, Idaho in December 2012, and has 2013 permits pending for its properties in the Lemhi Pass, Idaho and Sheep Creek, Montana.
U.S. Rare Earths' properties in Idaho's Lemhi Pass have been recognized in the U.S. Department of Energy's Critical Materials Strategy publication to have significant showings of Heavy Rare Earth Elements, in particular for the five Rare Earths identified by DOE as being at "Critical Risk": Dysprosium, Europium, Neodymium, Terbium and Yttrium.
About U.S. Rare Earths, Inc.:
U.S. Rare Earths, Inc. ("USRE", "U.S. Rare Earths" or the "Company") is a mineral exploration, mining and claims acquisition company. Formerly Colorado Rare Earths, Inc., the Company holds over 12,000 acres of mining claims for rare-earth elements in Colorado, Idaho and Montana. In Colorado, these claims include the Powderhorn Property in Gunnison County, and Wet Mountain Property in Fremont and Custer Counties. Additional claims include the Lemhi Pass Property in Lemhi County, Idaho and Beaverhead County, Montana; Diamond Creek and North Fork Properties in Lemhi County, Idaho and the Sheep Creek Property in Ravalli County, Montana.
SOURCE U.S. Rare Earths, Inc.
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