Stelmine Canada Ltd.
TSX VENTURE : STH

Stelmine Canada Ltd.

December 03, 2009 10:29 ET

Stelmine Acquire Rare Earth Metal Properties in the Wakefield Alkaline Complex of Gatineau, Quebec

MONTREAL, QUEBEC, CANADA--(Marketwire - Dec. 3, 2009) - Stelmine Canada Ltd ("Stelmine"), (TSX VENTURE:STH) announces that the company has signed an agreement in which it may acquire up to 100% interest in 6 important mining claims covering 360 hectare distributed into 3 blocs located in the Wakefield alkaline complex, north of Gatineau, Quebec.

The compilation of historic analysis has revealed the presence of three important rare earth concentration anomalies (REE): Ce, La, GD, Er, Yb): with concentrations of up to 4% REE.

Templeton's carbonatite

The rare earth minerals present in this prospect are monazite and fluorapatite, thin veins of fluocarbonate in calcite and dolomite deposits. Four samples drawn from the site have all shown rare earth concentration anomalies of 2,601 ppm, 3,230 ppm 2,566 ppm of which 1,750 ppm of Ce, 792 ppm of La and 642 ppm of Nd.

Quinnville's carbonatite

Minerals of rare earths present in this prospect are monazite and fluorapatite, thin veins of fluocarbonate in calcite and dolomite deposits. Four samples drawn from the site have all shown rare earth concentration anomalies of 5,003 ppm, and 5,985 ppm of which 3,125 ppm of Ce.

Cantley's carbonatite

This rare earth prospect corresponds to a carbonatite vein of about 2.3 metres thick lined with fenite and aegyrine. The vein consists in a 1.3 meter layer of calcite, barite and parisite and of a second 1.0 meter layer of calcite, barite, specularite and aegyrine. The sample drawn from this site showed rare earth concentration anomalies of 40,642 ppm (4.06%) of REE of which 22,100 ppm of Ce, 9,405 ppm of La and 8,925 ppm of Nd.

Stelmine could acquire 100% interest by paying $25,000, issuing 300,000 shares and spending $100,000 of exploration work over a period of 12 months and grant a 2% smelter royalty (NSR) redeemable for the sum of $500,000.

It is important to remind that the company has already announced last November 23rd, a major acquisition of rare earth element properties covering an area of 1,775 hectare in the Kipawa's alkaline complex region in the sector where the Matamec Resources (11.3% REE) and Fieldex Exploration (4.4% REE) prospects have been published.

Stelmine's management is very pleased with this acquisition reflecting the new vision of the company's development thru the rare earth element exploration.

Stelmine now owns rare earth elements properties in two regions of the province of Quebec for a total of 2,135 hectares.

Stelmine Canada Ltd. is a junior mining exploration company listed on the TSX Venture Exchange under the STH symbol.

In regard to this release, Mr. Jacques Marchand is acting as the Qualified Person in compliance with NI 43-101 and has reviewed its content.

The TSX Venture Exchange does not accept responsibility for the relevance or accuracy of this news release.

Contact Information

  • Stelmine Canada Ltd.
    Michel Lemay
    President and Chief Executive Officer
    514-866-8209