Rare Earth Metals Inc.
TSX VENTURE : RA

Rare Earth Metals Inc.

April 20, 2010 09:17 ET

Rare Earth Metals Releases Third Set of Drill Hole Results From its Clay-Howells Project

Including 105.3 Meters Grading 0.694% TREO, 0.14% Nb2O5, and 57.8% Fe2O3 in Hole CH-13, and 16.9 Meters Grading 1.088% TREO, 0.14% Nb2O5, and 65.95% Fe2O3 in Hole CH-11

THUNDER BAY, ONTARIO--(Marketwire - April 20, 2010) - Rare Earth Metals Inc ("Rare Earth Metals" or the "Company") (TSX VENTURE:RA) is pleased to announce additional assay results from its recently completed drill program on the Clay-Howells Prospect in northern Ontario. Previous results released on March 15, 2010 and April 12, 2010 included holes CH-01 to CH-06 inclusive, CH-09, and CH-17. Preliminary assay results have now been received for six additional holes. Highlights of these latest results include a drill intersection of 105.3 meters averaging 0.694% TREO, 0.14% Nb2O5 and 57.83% Fe2O3 from drill hole CH-13 and 16.9 meters of 1.088% TREO, 0.14% Nb2O5 and 65.95% Fe2O3.

"Results from the Clay-Howells Prospect continue to return positive results," said Michael Stares, President and CEO of Rare Earth Metals. "We are particularly pleased that this phase of drilling has intersected multiple lenses of mineralization enriched with combined Iron, Rare Earth Elements, and Niobium over a strike length of 700 meters and drilled widths up to 105 meters. The system is still open in all directions and the contribution of these combined value bearing minerals has certainly impacted positively on the base tonnage economics of this deposit".

Michael Stares continued to say, "While assay results from the remaining holes from drill testing of our winter program will continue to be reported, we are now gearing up to investigate the numerous other untested magnetic anomalies within the 110 square kilometre Clay- Howells - Carbonatite Complex." Additional work scheduled for the Main Zone at Clay Howells, once all the assays are received and compiled, will include preliminary metallurgical and mineralogical work followed by detailed drilling to better define the resource.

Highlights from the latest results are tabulated below. The ratio of Heavy Rare Earth Oxides to Total Rare Earth Oxides is presented in the table as HREO/TREO. The Light Rare Earths are predominated by Cerium, Lanthanum and Neodymium. Results from the final four holes are expected over the next two weeks and will be released once they are received.

Hole   FROM TO Length(m) TREO (%) HREO/TREO Fe2O3(t) (%) Nb2O5 (%)
CH-08   79.2 83 3.8 0.726 32% 34.14 0.06
CH-08   97 149.5 52.5 0.551 14% 28.45 0.16
CH-08 inc 97 104.5 7.5 0.717 20% 31.60 0.11
CH-08 inc 116.5 126.1 9.6 0.694 17% 39.44 0.25
CH-08 inc 137.5 150 12 0.789 8% 38.72 0.16
CH-08   180 200 20 0.556 7% 50.89 0.12
CH-08 inc 180 185 5 0.703 9% 41.84 0.11
CH-11   68 113 45 0.793 10% 53.10 0.17
CH-11   68 84.9 16.9 1.088 8% 65.95 0.14
CH-11   104.9 113.8 8.9 1.017 10% 52.95 0.15
CH-12   79.6 101 21.6 0.869 5% 52.31 0.15
CH-12 inc 88.6 94.6 6 0.975 5% 53.52 0.13
CH-13   102.2 207.5 105.3 0.694 10% 57.83 0.14
CH-13 inc 102.2 118.5 16.3 0.817 10% 45.37 0.14
CH-13 and 164 203 39 0.846 9% 59.41 0.13
CH-13   279.6 298 18.4 0.47 5% 53.29 0.06
CH-14   59.3 89.1 29.8 0.605 10% 37.97 0.11
CH-14 inc 82.6 89.1 6.5 0.879 7% 44.91 0.12
CH-14 inc 88.6 89.1 0.5 1.789 6% 74.33 0.05
CH-14   221 233 12 0.688 8% 29.69 0.16
CH-14 inc 230 233 3 1.196 6% 23.79 0.16
CH-16   57 86 29 0.503 11% 45.03 0.07
CH-16 inc 80 86 6 0.77 8% 79.53 0.08
CH-16   150.2 181.3 31.1 0.391 9% 28.67 0.09
CH-16 inc 176.8 181.3 4.5 0.742 9% 44.12 0.19

Please visit www.rareearthmetals.ca to view a map of the drill hole locations.

All sampled drill core was split, with half the core bagged and sent to a prep lab in Thunder Bay. The samples were analyzed at Activation Laboratories utilizing inductively coupled plasma mass spectrometer. The digestion technique was total digestion that employs a lithium metaborate/tetraborate fusion. Note: All measurements are down-hole lengths and as best as can be discerned these should represent 70% to 90% of the true widths. The Rare Earth Element assays are given as Total Rare Earth Oxides (TREO) and the Total Iron is given as Fe2O3.

Wayne Reid, PGeo, is a qualified person as defined in National Instrument 43-101, and has reviewed and approved the technical information forming the basis for release.

About Rare Earth Metals Inc.

Rare Earth Metals is a well funded company with a focus on exploring for Rare Earth Element deposits. The company presently has three advanced projects in Ontario and Newfoundland and Labrador, all exhibiting multi-element potential (REEs, Niobium, Beryllium and Iron Ore) and proximity to available infrastructure. Its flagship property is the Clay-Howells Prospect. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company's profile at www.sedar.com.

Investors are invited to visit the Rare Earth Metals website at www.rareearthmetals.ca.

ON BEHALF OF THE BOARD OF DIRECTORS OF RARE EARTH METALS INC.:

Michael Stares, President and CEO

This 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 production, reserve potential, exploration drilling, exploitation 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 the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.

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.

Contact Information

  • Rare Earth Metals Inc
    Michael Stares
    President and CEO
    (807) 623-6840
    (807) 623-9526 (FAX)
    www.RareEarthMetals.ca