Quantum Rare Earth Developments Corp.

Quantum Rare Earth Developments Corp.

July 06, 2010 10:00 ET

Quantum Commences 2010 Exploration Program at the Archie Lake Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 6, 2010) - Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(PINK SHEETS:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce plans for the 2010 exploration program at the Archie Lake Rare Earth Property.

The Archie Lake project, located in northern Saskatchewan, contains rare earth element (REE) mineralization within a meta-sedimentary horizon thought to be of paleo-placer origin. The mineralized horizon approaches 6 metres in width and has been traced historically for approximately 600 metres along strike via prospecting and trenching.

During early October 2009, a total of 36 rock samples were collected from six historic trenches and a small blast pit on the property. Samples were sent to Acme Analytical of Vancouver, BC. (Acme) for whole rock and trace element analysis with rare earths determined using ICP-MS.

The 2009 exploration confirmed mineralization in all trench and pit locations with one chip sample returning a peak value of 29.9% TREE (total lanthanides and yttrium) (Semi-Quantitative Analysis). A total of five samples exceeded Acme's detection limits for one to four of the lanthanides (Ce, La, Nd, and Pr). Of all 36 samples analyzed, a total of 18 samples exceed 2% TREE, six exceed 5% TREE with three exceeding 10% TREE. The sample with peak value is comprised of nearly 60% monazite representing a highly mineralized pod within the overall zone.

The maximum value of 29.9% TREE reported by Acme was reanalyzed by AGAT Laboratories Ltd. as 21.1% TREE, and 29.2% TREE by the Saskatchewan Research Council (SRC). All other check samples were within acceptable limits. (For full details please refer to NR Dec 1, 2009).

The positive 2009 exploration results from the Archie Lake Property will be followed-up aggressively during the 2010 field season. The 2010 field program will consist of three phases of exploration with a total budget of $1.1 million.

Phase I will involve a high resolution airborne magnetic and radiometric survey, focusing on tracing the mineralized horizon and outlining other potential areas of interest. The survey is scheduled for completion in early July, with results and interpretation to follow immediately thereafter, providing guidance for Phase II of exploration.

Phase II is scheduled to begin early August and will involve detailed mapping of the known REE mineralized horizon as well as comprehensive prospecting of the entire claim in order to delineate any additional mineralized occurrences. Mapping will focus on identifying the full extent of the mineralized horizon (historically mapped over approximately 600 metres in length) and will consist of detailed geologic and radiometric mapping of outcrop exposures.

The final phase, Phase III, will involve diamond drilling of NQ size (47.6 mm diametre) core beginning early September, 2010. Approximately 1000 metres (10-15 holes) of drilling will be completed with the depth of each hole expected to be no more than 100 metres. Drill hole locations will test mineralization at depth along strike of the mineralized horizon.

Samples collected throughout Phase II and Phase III of exploration will be sent to the SRC Geoanalytical Laboratories for whole rock, trace, and rare earth element analysis.

Darren L. Smith, P.Geol. is the qualified person responsible for the Archie Lake Project and has read and approved the technical disclosure contained in this news release.

"We are very pleased to start our 2010 exploration program at Archie Lake. Following the excellent results obtained in surface sampling last fall, we are extremely encouraged and looking forward to drilling this property for the first time," according to Company President and CEO, Peter Dickie.

On Behalf of the Board,

Peter Dickie, President

"Neither 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

  • Quantum Rare Earth Developments Corp.
    Peter Dickie
    President and CEO
    (604) 669-9330
    (604) 669-9335 (FAX)