HALIFAX, NOVA SCOTIA--(Marketwired - June 16, 2013) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or "the Company") is pleased to announce that the work program is under way to develop the Initial Plan of Operations ("Plan of Ops") for the Bokan-Dotson Ridge Rare Earth Project in Southeast Alaska (the "Project").
Third party engineering firms have been contracted to advance the preliminary designs of the engineered facilities as set out in the Company's recently-issued Preliminary Economic Assessment (PEA; January 15, 2013). The results of these engineering studies will be used to finalize the Plan of Ops, which will include a proposed footprint of the Project site. The successful completion of the Plan of Ops will trigger the permitting process, an important milestone in mine development.
Knight Piésold Ltd. of Vancouver, B.C.; Tetra-Tech Incorporated (formerly Wardrop Engineering Inc.) of Vancouver, B.C.; and PND Engineering of Juneau, Alaska, have been retained to complete the various components of the Plan of Ops. The engineering schematics of the Plan of Ops will include the positioning of the following mine facilities:
- Underground mine portal.
- Mill facility (including crushing, screening and sorting plant).
- Separation facility.
- Aggregate storage stockpile.
- Water management facility.
- Interim* tails facility.
* The use of ore sorting and cemented paste backfill will allow for all of the milled tailings to be placed back into the underground mine once the project is in full production. As a result, no permanent tails disposal facility will be required for the Project, a unique feature of the Bokan- Dotson Ridge site.
The Bokan-Dotson Ridge Rare Earth Project is located on federal land managed by the United States Forest Service (USFS). The advanced engineering designs set out in the Plan of Ops are required by the USFS to initiate the National Environmental Policy Act (NEPA) review for the extraction of locatable minerals. The NEPA review will culminate into the development of an Environmental Impact Statement (EIS); evaluating the potential environmental impacts of the proposed project and any mitigating alternatives to the development and operation of the mining and milling activities.
"The development of the Plan of Operations is a significant step forward for the Project and submitting the document to the USFS to initiate the NEPA review will be an important milestone for the Company. We're looking forward to the completion of the NEPA review process, and obtaining the Record of Decision, in order to initiate construction of the Project," said Jim McKenzie, President and CEO of Ucore.
To additionally support the development of the EIS, environmental studies commenced in 2012 continue to be enhanced during the 2013 field season. Local technicians have been retained to evaluate stream and groundwater quality, as well as fish habitat and the productivity of the streams within and adjacent to Project boundaries. A survey has also been commissioned to determine the extent and quality of any wetlands that are within the proposed footprint of the Project. A meteorological station is being installed during the 2013 field season, to provide baseline climatological conditions, and studies of the geochemistry of the ore and separated aggregate have also been commissioned.
Ucore Rare Metals Inc. is an early stage mine development company focused on rare earth elements, strategic and technology metals. With multiple projects across North America, Ucore's primary focus is the Bokan - Dotson Ridge REE property in Alaska. The Bokan - Dotson Ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in expediting mine production and limiting the capital costs associated with mine construction. The Bokan properties are located in an area reserved for sustainable resource development.
This press 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 exploration drilling, exploration 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.